Coffee With Andy: Weekly Kelowna Real Estate Market Update

The 2026 real estate will begin…..soon. 17 residential sales reported last week and another 10 condo apartments sold for the week ending January 17th. This is down from 29 the previous week for residential and 10 for condos.

It’s looking like it’s going to be a slow January as buyers are still out there looking at homes and visiting open houses but hesitating when it comes to making offers. This will change of course over the next few months but the number of transactions for both residential and strata are below the norm. Check back next week though with a promise that this will turn around.

There is a misconception with buyers that when the market is slow that sellers are likelier to accept offers considerably below asking prices when this isn’t the case. Sellers have access to the same housing data that buyers do and adjust their asking prices accordingly when the number of showings slow down or stop. This can happen multiple times and when an offer eventually comes in there often isn’t much of an appetite to drop again outside what we consider to be typical in a standard real estate negotiation. Sure, distressed sellers are the exception but they’re few and far between and successful buyers are the ones who swoop immediately after a listing comes to market or first after a meaningful price reduction.

Wrapping up, we have 1,137 residential homes for sale and 658 apartments on the market. Thanks for reading.





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Previous Coffee With Andy Updates:
December 5:    • Limping Into December  

November 28:    • Kelowna Real Estate Market Update  

November 21:    • Kelowna Real Estate Market Report