The market showed its first signs of improvement in three weeks — and the data is worth paying attention to.
234 new listings came to market this week — up from last week's low of 212. More importantly, the number of completed sales bounced back to 100, and the listing failure rate dropped from 67% to 57%. That's the first meaningful improvement in three consecutive weeks of deteriorating numbers. One week doesn't make a trend — but it does tell us the market isn't in freefall. And a $5.25M sale — the highest single transaction we've tracked in seven weeks of data — is a signal that the luxury end of this market still has genuine buyers. Scroll down for the full picture.
New listing figures based on 194 MLS records for the week of July 6–12. Sales, expired and cancelled figures sourced from Royal LePage Kelowna weekly board data covering Single Family Residential, Central Okanagan.
What changed this week"The first meaningful improvement in three weeks — and a $5.25M sale that tells us the top end is still moving."
Sales bounced back. Failures dropped. One week of better numbers in a difficult market.
Last week produced the worst numbers in our seven weeks of tracking — 89 sales against 184 failures, a 67% fail rate that reflected both seasonal slowdown and a market structurally out of alignment on price. This week both sides moved in the right direction. Sales climbed back to 100. Failures dropped to 135. The fail rate — while still elevated at 57% — is back in the range we were seeing in May and early June.
What's driving the improvement is hard to say with certainty from a single week of data. Seasonal factors play a role — mid-July often sees a brief uptick in activity as buyers who paused for holidays return to the market. What matters is whether this improvement holds through the rest of July or whether last week was the new normal and this week the exception. We'll be watching carefully.
Based on Royal LePage Kelowna board data for Single Family Residential, Central Okanagan, week of July 6–12 2026.
Thinking about timing your sale? The weekly data tells you more than any single market snapshot.
Luxury marketA $5.25M sale this week is the largest transaction we've tracked since we started this weekly analysis in May.
The luxury end of the Kelowna market sent a clear signal this week. The highest residential sale of $5,250,000 is the largest single transaction in seven consecutive weeks of our tracking — and it arrived in the same week that saw four new listings priced above $3M come to market, including a $6.35M property in Westbank Centre and a $4.15M listing in Peachland.
This doesn't mean the luxury market has turned. The broader data still shows elevated fail rates across all price brackets. But it does confirm something important — there are buyers in this market at price levels most agents assume are unreachable right now. The homes transacting at the top end are doing so because they offered something genuinely compelling: the right property, priced correctly, in a location with a real buyer pool. Price, position and promotion — at every level of the market.
Highest sale figure from Royal LePage Kelowna board data. New listing data from MLS records week of July 6–12.
Own a premium property in Kelowna? This week's data is worth a conversation.
What came to market this week234 new listings this week — and where sellers are pricing tells its own story about expectations.
Detached homes dominated new supply this week with 93 listings across all price brackets. The median asking price for a new detached listing this week sits at $1,085,000 — a figure that reflects continued seller optimism in a market where the median sold price has been running meaningfully below asking across recent weeks.
Condos added 55 new listings with the largest concentration in the under $400K bracket — 27 listings at a median ask of $345,000. That's the most accessible entry point in the market and also, based on recent weeks' data, one of the most competitive segments for sellers.
Kelowna South, Kelowna North and Lower Mission led the region on new listing volume. Peachland and Lake Country also showed meaningful activity — particularly at the premium end — which is worth watching as an emerging alternative for buyers priced out of core Kelowna.
Based on 194 new listing records from MLS data for the week of July 6–12 2026.
Wondering how your home's asking price compares to what's actually selling? That's the conversation to have.
Neighbourhood spotlight · Peachland & Lake CountryTwo areas beyond Kelowna proper are showing activity worth watching this week.
Peachland added 11 new listings this week at a median asking price of $898,000 — including a $4.15M luxury property that reflects the range of activity in this corridor. Lake Country East and Oyama added 9 new listings at a median ask just under $1M. Both areas offer lakefront adjacency and lifestyle appeal that Kelowna proper increasingly prices out of reach.
For buyers who have been frustrated by competition and pricing in core Kelowna neighbourhoods, these corridors represent genuine alternatives worth exploring. For sellers in these areas, the same rules apply as everywhere else in this market right now — pricing with precision from day one is what separates the listings that close from the ones that sit.
Based on new listing data for the week of July 6–12. Neighbourhood spotlight rotates weekly.
Curious what's happening in your specific neighbourhood? We track it every week.
Seven weeks of data · The patternSeven consecutive weeks of Central Okanagan market data — and what the full picture shows.
| Week | New Listings | Sales | Failures | Fail Rate |
|---|---|---|---|---|
| May 25–31 | 216 | 123 | 151 | 55% |
| June 8–14 | 259 | 116 | 116 | 50% |
| June 15–21 | 264 | 117 | 122 | 51% |
| June 22–28 | 246 | 106 | 118 | 53% |
| June 29–July 5 | 212 | 89 | 184 | 67% |
| July 6–12 | 234 | 100 | 135 | 57% |
May 25–Jun 21 figures from Single Family Residential board graphics. Jun 22 onwards from Royal LePage Kelowna weekly board data, Single Family Residential, Central Okanagan. Methodology consistent within each period.
This week's improvement is real and worth acknowledging. But seven weeks of consistent data also shows something that one good week doesn't erase: in every single week since late May, listing failures have outpaced or matched completed sales. The market has been operating in this state for nearly two months now.
What this week adds to the picture is a reminder that the market isn't uniformly bad. There are weeks when conditions improve. There are price points and neighbourhoods where deals get done. There are buyers at every level — including the luxury end — who are active and ready to transact when the right property arrives at the right price.
The framework hasn't changed: Price, Position, Promotion. What this week suggests is that when sellers get those three things right, the buyers are there. The question is always whether sellers are willing to have that honest conversation before they list.
Seven-week trend analysis tracking new listing and sales/failure data weekly since May 25 2026.
"The market isn't uniformly bad. When sellers get price, position and promotion right — the buyers are there."
Graham Team Take
The market this time of year carries its own rhythm. Showings slow down, agents take holidays, buyers pause. That's normal for July. What this week showed us is that when the right property arrives at the right price, buyers are still out there — including buyers with serious budgets.
What we're telling every seller we talk to right now is straightforward: your home needs to be compelling on at least one of three fronts — price, position, or promotion. Buyers in this market aren't settling. They're comparing. They have more choice than they've had in years and they know it. The homes closing right now are the ones that gave buyers a reason to act. The ones sitting are the ones that assumed the address would do the work.
This week's data gave us a reason for cautious optimism. Seven weeks of data gives us a clear-eyed view of the market we're actually in. Both things are true at the same time — and navigating that honestly is what we do every week.
Graham Real Estate Team · Royal LePage Kelowna
We publish this analysis every week because we believe Kelowna buyers and sellers deserve an honest read on the market — not a promotional one. New listing data sourced from the Association of Interior REALTORS® MLS system for the week of July 6–12 2026. Sales and failure figures sourced from Royal LePage Kelowna weekly board data, Single Family Residential, Central Okanagan. Published July 15, 2026.