Select Page

Kelowna’s landscape changing forever

Kelowna’s landscape changing forever

“The landscape of Kelowna will forever change in 2018 as homeowners flock to the new downtown towers,” says local realtor and homebuilder A. J. Hazzi, author of The Vantage Report.  “We’ll see a vitality on our streets and in the shops and restaurants as the densification of the downtown core increase.

"With so much renewal and re-imagining going on in our city, it is going to be exciting for residents to watch it all take shape and come alive.”

Vantage West Realty released today the Winter 2017 edition of Okanagan real estate market micro-study, a semi-annual report which delves deep into market trends for 15 distinct neighbourhoods in a year-over-year study of Central Okanagan home sales.

Overall, inventory of downtown condos increased year over year by 70 per cent, with 346 new units starts. 2017 saw construction of 1151 Sunset Drive tower and SOPA Square in Pandosy resume. Three other tower projects, Ella, Ellis Parc and the south tower of One Water Street, should all break ground in 2018. Each one experienced successful pre-sale campaigns in this past fall.

Prices are keeping steady in the downtown condo market with a slight 1.7 per cent increase. A variety of units from micro-suites to penthouses are on offer and prices range from the mid $200,000s to a high of $2M. The average price is $387,471.

“Townhomes and apartments that fit the price range and lifestyle of boomers and Millennials will be the hot item in the year ahead,” says Hazzi.

Overall, Kelowna and area are experiencing premium prices across all housing types. The average single-family house is $735,523. 

Market wide 2017 2016 Change
Single Family 735,523 675,838 8.8%
Townhouse 461,742 423,163 9.1%
Condo 329,522 289,713 13.7%

Average home prices top $1 Million in Lakeview Heights and Southeast Kelowna

Leading the market are double-digit home price increases in Glenmore/North Glenmore and Southeast Kelowna/Crawford in Kelowna, and in West Kelowna, Shannon Lake, Lakeview Heights (pictured) and Westbank communities saw similar rapid increases.

Single-family homes prices are up 20 per cent in the neighbourhood of Southeast Kelowna/Crawford and 16 per cent in Glenmore/ North Glenmore. In Southeast Kelowna/Crawford, the average price for a single-family home reached $1.1M, while Glenmore saw prices at $675,546. Premium prices for single-family homes are being seen in Lower Mission ($933,587) and Dilworth ($832,096) and Lake Country ($812,665).

In West Kelowna, Lakeview Heights saw price increases of 24 per cent with the average single-family home selling for $1.03M. Shannon Lake saw increases of 16 per cent with an average of $674,487 and townhomes increase 28 per cent to with an average of $488,260. Single-family homes in Westbank have experienced a 27 per cent rise in the average sales price while apartment-style condo prices rose by 23 per cent over the past 12 months.

“Kelowna is still very much a seller’s market,” says Hazzi. “We have some of the most desirable real estate in Canada, with a lifestyle that suits the two largest demographics in history: Boomers and Millennials. A well-located real estate holding in the Okanagan will be one of the safest, most lucrative investments over the next couple of decades.”

Vantage Report is available from local realtors or online at

Related Post

About The Author


Okanagan Life captures the essence of life in the Okanagan Valley with informative and entertaining features on issues that matter to people who live or vacation in this great region, plus stories on Okanagan destinations, personalities, wine, food, history, outdoor recreation and more. We're now in our 30th year of publishing. Subscribe

30,000 giveaway for small business okanagan

Current Issue

Current Issue

Aug/Sept 2018 Okanagan Life


Voting 2018 Best of the OkanaganOctober 25, 2018
5 days to go.

Upcoming Events

6:00 pm 10th Annual Global Gala @ Delta Grand Resort
10th Annual Global Gala @ Delta Grand Resort
Nov 23 @ 6:00 pm
10th Annual Global Gala @ Delta Grand Resort | Kelowna | British Columbia | Canada
The fourth-year nursing students from the University of British Columbia (UBCO), in partnership with Okanagan-Zambia Health Initiative (OkaZHI), proudly host the 10th Annual Global Gala. The Global Gala is the formal charity event that features[...]
5:00 pm Summerland Festival of Lights @ Dowtown Summerland
Summerland Festival of Lights @ Dowtown Summerland
Nov 30 @ 5:00 pm – 9:00 pm
Summerland Festival of Lights @ Dowtown Summerland | Victoria | Texas | United States
Summerland will switch-on of its downtown lights on Friday, November 30. Be treated to an evening of festive fun with a country twist. Presented by the Summerland Chamber of Commerce and the District of Summerland,[...]


Error: Please enter a valid email address

Error: Invalid email

Error: Please enter your first name

Error: Please enter your last name

Error: Please enter a username

Error: Please enter a password

Error: Please confirm your password

Error: Password and password confirmation do not match