Mark Coons

Dream big. Work Hard. Always Compete. Stay Hungry.

[Mark Coons @markcoons]

Unintended Consequences?!
A huge challenge we are experiencing in Kelowna is getting the prices down on development properties so they pencil out.

Sellers will only sell if it makes sense. The Capital Gains Tax increase will make housing less affordable
👇👇👇

[Mark Coons @markcoons]

Kelowna construction is tilted hard toward apartments.
295 single-family homes under construction
vs
4,156 apartment units
If we don’t build enough family housing, single-family and townhome prices may stay under pressure long term.

#KelownaRealEstate #HousingMarket

[Mark Coons @markcoons]

Summer: peak supply → strong buyer leverage. Pricing must be sharp.
Fall: ~480 sales/month, 2,500–2,700 listings.
The gap is widening → Kelowna is shifting further into a buyer’s market.

[Mark Coons @markcoons]

Kelowna’s summer market slows as families travel and showings get tougher.
10-yr average: ~580 sales/month
2025 summer: 350–400 sales/month
Plus the highest listing count of the year.
Peak supply + slower demand = softer summer market.

[Mark Coons @markcoons]

Kelowna condo market is taking the biggest hit: ~14 months of inventory and fewer sales in 2025 vs 2024.
Sellers: more competition.
Buyers: more leverage.
#KelownaCondos #KelownaRealEstate #HousingMarket

[Mark Coons @markcoons]

Kelowna luxury sales still moving,
• 9 sales over $1M
• Top sale: $2.9M (Mine Hill Dr)
• Two apartments sold: $1.8M and $2.152M
“This or That” — which one makes sense at those prices?
#KelownaRealEstate #HousingMarket

[Mark Coons @markcoons]

CREA (Jan 15): Canada MLS sales ⬇️ 2.7% MoM.
Central Okanagan: just over 4,000 sales (2024) → 4,311 (2025) = +299.
Kelowna can buck the national trend.
#KelownaRealEstate #CanadaHousing #HousingMarket

[Mark Coons @markcoons]

⚠️ Average prices can mislead.
2025:
• Average ⬆️ 6.95%
• Median ⬆️ 1.92%
Record sales skew the average.
Median better reflects a typical home.
#KelownaRealEstate #HousingMarket #CanadaHousing

[Mark Coons @markcoons]

Kelowna weekly hot sheet (last 7 days):
• 38 sales (still filling in)
• 178 new listings
• 60 price drops
Sales lag early in the week, but pricing pressure is starting to show.
#KelownaRealEstate #HousingMarket #MarketUpdate

[Mark Coons @markcoons]

Canada MLS® sales fell 2.7% in Dec 2025 (and ~1.9% fewer transactions vs 2024).
Okanagan sales: 4,311 in 2025 vs just over 4,000 in 2024 (+299).
Local > national headlines.
#KelownaRealEstate #CanadaHousing #HousingMarket

[Mark Coons @markcoons]

BC Assessments aren’t always right.
If yours doesn’t reflect July 1, 2025 market value, contact BC Assessment and dispute it before Feb 2, 2026.

Example: Glenmore ⬇️ ~3% on assessments, yet sales ⬆️ ~5%.
#KelownaRealEstate #BCAssessment #HousingMarket

[Mark Coons @markcoons]

Canadian real estate sales fell 2.7% in late 2025.
Kelowna didn’t crash.
It didn’t boom either.
Local data matters more than national headlines going into 2026.
#KelownaRealEstate #CanadaHousing #HousingMarket

[Mark Coons @markcoons]

Q: Kelowna’s top neighbourhood in 2025 so far?
A: Lower Mission — 113 sales, avg price $1.476M.
Flat terrain, beach access, Pandosy, schools, shopping.
Always one of the most in-demand areas in Kelowna.

[Mark Coons @markcoons]

Q: Why is Upper Mission #2 in Kelowna for 2025?
A: 96 sales, $1.4M average price, newer homes, and entry-level new builds around $1.5M. Strong value + high demand.

[Mark Coons @markcoons]

Glenmore stays in high demand:
Close to downtown, larger flat lots, mature trees, quiet streets, and a younger demographic moving in. One of Kelowna’s most appealing neighbourhoods.

[Mark Coons @markcoons]

Q: Why is Lakeview Heights always in high demand?
A: Sun exposure, sweeping lake views, wineries, schools, parks, and quick access into Kelowna. One of West Kelowna’s most desirable neighbourhoods.

[Mark Coons @markcoons]

Glenrosa ranks #5 with 73 sales so far in 2025 and an average price of $822K.
Mix of BC Box homes, suite potential, newer builds, and acreage options.
One of West Kelowna’s highest-turnover neighbourhoods.

[Mark Coons @markcoons]

Kelowna’s demand slows before sales do.
In 2023, wildfires caused early demand drop while supply lagged.
As families prep for school + winter, more sellers pull listings.
Market shifts are seasonal and event-driven.

[Mark Coons @markcoons]

Cash flow may return to Kelowna in 2026.
Today: STRs allowed only in your primary home (must live there 240 days).
No STRs in non-principal residences.
If rules shift, investor opportunities reopen.

[Mark Coons @markcoons]

Kelowna’s last 10 years show the same cycle: clear peaks + valleys.
Dec–Jan always drop in active listings.
2025: peaked near 3,500 → dropping toward ~2,200 heading into January.
The peaks + valleys tell the real story of the market.

[Mark Coons @markcoons]

Year-end can be a strong time to sell:
Less inventory + more motivated buyers.
Many want to be moved before Christmas.
Relocation + tax buyers often act fast before January.