This is the question I get more than almost any other from buyers new to the Kelowna market: should I be looking at a house or a condo? The honest answer depends on what you're trying to accomplish, but the current numbers make the trade-offs a lot clearer than they were even a year ago.
The numbers, side by sideAs of May 2026, the average single-family home in Kelowna sold for $1,114,454. The average townhome came in at $674,889. The average condo landed at $502,295. That's a wide spread, and it's not just about square footage.
Sales activity tells a more interesting story than price alone. Single-family home sales dipped 7% year over year. Townhome sales dropped 27%. Condos, meanwhile, jumped 26%, with days on market falling 21% to an average of 54 days. Buyers are moving toward condos faster than any other segment right now, and it isn't only about affordability.
Why condos are heating upPart of it is price, obviously. A $502,295 average condo purchase is a much easier entry point than a $1.1 million detached home, especially for first-time buyers or anyone relocating from a market where that condo price would barely cover a down payment elsewhere.
But there's a supply story here too. New condo listings fell 22% year over year, which means fewer options are hitting the market at the same time more buyers are competing for them. That combination, rising demand against shrinking inventory, is exactly what drives days-on-market down and puts upward pressure on prices over the coming year, even if this month's average price ticked down slightly.
Why houses still make sense for the right buyerSingle-family homes aren't losing appeal, they're just moving at a more measured pace. If you need space for a growing family, want a yard, or you're planning to hold the property long-term as your primary residence, a detached home in a neighbourhood like Lower Mission, Glenmore, or the Upper Mission still gives you land value and long-term appreciation that a condo simply can't match. The slower sales pace right now, 50 days on average, also means less bidding-war pressure than we saw a few years ago. That's an advantage for buyers who can be patient and negotiate.
What this means for your decisionIf your priority is getting into the Kelowna market as fast as possible with the smallest initial investment, condos are where the momentum is right now, and it's worth acting with some urgency given how quickly inventory is drying up. If you're buying for the long haul and space matters more than speed, the single-family market has cooled just enough to work in your favour as a buyer.
There's no universally right answer here, only the right answer for your budget, your timeline, and what you actually need out of the property. I'd rather walk through your specific situation with you than give you a generic recommendation that doesn't fit your life.
Tarynn Liv Parker
Sutton Centre Realty, Kelowna
250-215-4076 | tarynn@tarynnlivparkerhomes.com
This post is for general informational purposes only and reflects publicly available data as of July 2026 from the Canadian Real Estate Association (CREA), the Association of Interior REALTORS®, Statistics Canada migration data, and City of Kelowna and provincial short-term rental reporting. It does not constitute financial, mortgage, or investment advice. Benchmark prices and affordability figures vary by neighbourhood and property type — consult a licensed REALTOR®, mortgage professional, and financial advisor for guidance specific to your situation.
