Kelowna House Prices – Illustrative Prices
The information herein is meant to provide a snapshot of typical Kelowna house prices, including property type, square footage and number of bedrooms and bathrooms. Information is based on data as of October 7, 2019 and is provided for illustrative purposes only. As data is derived from listing prices it may not be indicative of sales prices.
Illustrative Kelowna Townhouse Prices
A typical townhouse in Kelowna at the $500,000 price point is comprised of three bedrooms and 2.5 bathrooms covering approximately 1,475 square feet. Age, location and amenities will vary but you can expect to purchase a new build or recently renovated townhouse in West Kelowna or close to downtown.
Illustrative Kelowna House Prices
Typical Kelowna house prices include:
- $750,000 buys a four bedroom, 3.5 bathroom house covering approximately 2,965 square feet.
- $1,000,000 affords a four bedroom, four bathroom house covering approximately 3,953 square feet.
Age, location and amenities will vary.
Illustrative Kelowna Waterfront Prices
In order to break into the waterfront house market, you will need a cool $2,000,000, which will buy you a four bedroom, three bathroom house covering approximately 2,717 square feet.
Kelowna House Prices – Year Over Year Price Changes
Kelowna waterfront prices saw a drop from 2017 to 2018. In particular, the median price decreased from $980,000 in 2017 to $735,000 in 2018 or -20% (source: Re/max 2018 Recreational Property Report).
Kelowna real estate prices saw modest increases in the waterfront category and were flat in the non-waterfront category from 2018 to 2019. In particular, the median price of waterfront properties increased from $735,000 in 2018 to $782,000 in 2019 or 6.4%. Finally, overall prices increased 11% across all categories (source: Re/max 2019 Recreational Property Report).
Often called “Canada’s Napa Valley”, the beautiful Okanagan Valley is home to dozens of wineries, rolling vineyards, golf courses and more all overlooking picturesque Okanagan Lake.
In the center lies the bustling city of Kelowna, BC. As the largest city in the Okanagan Valley, Kelowna has more to offer than just beaches, wineries and sun. Look no further than Kelowna’s downtown core where you’ll find restaurants, shopping, a casino and a lakeside boardwalk. To the south of Kelowna is Penticton, BC which is also a popular tourist destination although the pace is a bit slower compared to its larger neighbour to the north. A five minute drive from Penticton will take you to the beautiful Naramata bench which is a must visit for all of the wine lovers out there. It’s no wonder that the Okanagan Valley is a popular destination for real estate investors. Relevant data includes:
- Closest major city: Vancouver (389 km)
- Other nearby destinations: Vernon (51 km), Penticton (63 km)
- Population: 131,654*
- Median age: 43.5*
- Median household income: $74,405*
- 2018 Single Family Median Price: $659,950^
- 2019 Single Family Median Price: $640,000^
- 2019/2018 Price (%): -3.0%^
- 2020 Median Price Forecast: $659,200 ^
- 2020 Median Price Forecast (%): 3.0%^
*Statistics Canada. 2016 Census .^ Royal LePage. Recreational Property Report 2019.
If you would like more information on Kelowna house prices, or prices in Canada’s other top vacation and recreational destinations, be sure to launch our interactive map to see what $500,000 to $1 million+ buys.