Top Selling Kelowna Condo Buildings in April 2019

April was the busiest month since October of last year for condo sales in Kelowna and the Central Okanagan with 100 reported transactions. Even with more inventory than we’ve seen since July 2015, the market has returned from the wintery buyer’s market to a bustling, more balanced, spring market. This solid demand for Kelowna condos is driving a continuing increase in property values for the segment, with valuations up 13% since April 2018! The average selling price of a Kelowna condo in April was $409,629.

More and more people are choosing to call the Okanagan home and with the increase in home values in many markets across the country, including our own, condos make for an affordable choice. This is in addition to the intrinsic benefits of condo living where owners don’t typically have to take care of maintenance, landscaping, snow shovelling as they would with a home. Condos also often have other amenities like swimming pools, hot tubs, recreational facilities, fitness centres, common social areas, shared boardrooms, etc.

With many different condo buildings in Kelowna and area, here are the top selling buildings or complexes for April 2019 and the number of residences sold:

  1. Creekside Villas (4)

  2. Terravita (4)

  3. 1151 Sunset Drive (3)

  4. Discovery Bay (3)

  5. Neo (3)

  6. Playa del Sol (3)

  7. SOPA Square (3)

  8. Southwind at Sarsons (3)


Below I’ll share some some additional statistics about these recent sales.


Lowest Price Condo Sale in April 2019

Gordon Manor condo building in Kelowna, BC.

Gordon Manor condo building in Kelowna, BC.

  • A 1-bedroom residence in the Central City’s Gordon Manor sold for $169,900.

  • This was the 2nd highest priced sale for a 1-bedroom in the complex.

  • Building was built in 1985.

  • Current strata bylaws have 55+ age restriction.

  • Current strata bylaws restrict rentals (no rental) and pets (no pets).


Highest Price Condo Sale in April 2019

SOPA Square tower as seen from the corner of Groves Avenue and Pandosy Street in Kelowna, BC.

SOPA Square tower as seen from the corner of Groves Avenue and Pandosy Street in Kelowna, BC.

  • A 3-bedroom residence in Pandosy Village’s SOPA Square sold for $985,000.

  • This was the 3rd highest priced sale for a 3-bedroom in the complex.

  • SOPA Square is a new, 14-storey, high-rise condominium offering modern, luxury, finishings and world-class lakeviews.

  • Building construction was completed in 2018.

  • Current strata bylaws allow by have rental and pet restrictions.

TOP SELLER: Creekside Villas, Kelowna

  • A three building complex in Pandosy/KLO, just two blocks from the beach at Okanagan Lake, across the street from Okanagan College and Mission Park shopping centre.

  • 4 Sales: all were 2-bedroom residences with selling price ranging from $293-321,000.

  • Complex was built in the early 90s.

  • Current strata bylaws allow by have rental and pet restrictions.

TOP SELLER: Terravita, West Kelowna

  • A classic low-rise condo overlooking the Shannon Lake Golf Course.

  • 4 Sales: all were 2-bedroom residences with selling price ranging from $277-430,000 (higher priced residences are freehold properties having already bought out the original developer’s lease).

  • Building was built in 2007.

  • Current strata bylaws allow by have rental and pet restrictions.

Like many other real estate markets, the value of condo residences is impacted by the neighbourhood in which they are located. The closer in proximity to the lake or other recreational areas like Big White Ski Resort the higher in value. Of course there are other factors to consider as well, including the availability of specific levels of constructions in any given neighbourhoods. For example, Downtown Kelowna and the Pandosy/KLO neighbourhood have been attracting the development of higher end luxury condo projects over the past decade.


How Do Condo Values Vary by Neighbourhood?

Average Selling Price of Kelowna Condos (April 2019) by Neighbourhood

Downtown Kelowna: $503,678
Big White: $487,144
Pandosy/KLO: $477,575
Lower Mission: $425,822
University District: $377,760
Central City: $348,813
Downtown West Kelowna: $326,407
Glenmore: $304,968
Rutland: $254,233





In Which Neighbourhoods are Kelowna Condos Selling the Most?

Number of Residences Sold (April 2019) by Neighbourhood

Downtown Kelowna: 18
Lower Mission: 18
Downtown West Kelowna: 14
Pandosy/KLO: 12
Central City: 8
Rutland: 6
Glenmore: 5
University District: 5
Big White: 5

Lastly, here are a few other interesting tidbits on Central Okanagan condo sales:

  • 14 of 100 Sold have Age Restrictions

  • 96 of 100 Sold are Freehold properties

  • 44 of 100 Sold have a pool

  • 54 of 100 Sold have underground parking

  • Average living space: 1067 SF

Sales by Number of Bedrooms:

1-bedroom: 16 residences sold - average selling price: $286,900

2-bedroom: 72 residences sold - average selling price:$406,755

3-bedroom: 12 residences sold - average selling price: $590,510