Westbank Centre, West Kelowna - August 2026 Real Estate Report

Westbank Centre, West Kelowna: Your Home Is Worth More Than the City Thinks

If you have been glancing at your property assessment and wondering if that number is actually what your place is worth - it is not. Not even close. Here is what is really going on in Westbank Centre right now.

The Vibe: Houses vs. Condos

We are seeing two pretty different stories play out on our streets depending on what you own.

Houses - The house market here is holding steady. One sale closed recently at an average of $843,900, and buyers are paying 97.22% of list price. That means sellers are getting close to what they are asking, and homes are moving in about 23 days on average. That is fast - our days-on-market ranks 2nd out of 13 comparable neighbourhoods in West Kelowna. If your house is priced right, it is not sitting. The predicted market value for houses sits at $775,210, up from a 3-month moving average of $761,296, and growth ranks 3rd out of 14 neighbourhoods. That puts us solidly above average in West Kelowna. Rental yield is running at 5.20%, which is a strong return if you are thinking about the income angle.

Condos - The condo picture is a bit more nuanced. Eight condos sold this month with an average sale price of $412,162 - up 9.5% from last month, which is a real jump. But units are sitting on the market for around 110 days, which is longer than nearby Goats Peak-Gellatly at 68 days. Buyers have options and they know it. Growth ranks 8th out of 13 comparable neighbourhoods, which puts us below average for now. The rental yield on condos is 3.86% - moderate, but still a reason to hold if you are an investor. The condo market is taking a breather, but the sale price trend is moving in the right direction.

• House average sale price: $843,900
• House average days on market: 23
• House sale-to-list ratio: 97.22%
• House rental yield: 5.20%
• Condo average sale price: $412,162 (up 9.5% month over month)
• Condo average days on market: 110
• Condo sale-to-list ratio: 96.65%
• Condo rental yield: 3.86%

The Secret Sauce: Your HonestDoor Price vs. That Government Assessment

Here is the number that should get your attention. The city assessed the average house in Westbank Centre at $663,643. The average HonestDoor Price is $769,532. That is a gap of nearly $106,000 - or 15.96% higher than what the assessment says. For condos, the gap is even wider. The average assessed value is $420,843, but the HonestDoor Price comes in at $528,100 - that is 25.49% higher.

Government assessments are a snapshot from the past. They do not update in real time, and they do not account for what buyers are actually paying on the street right now. The HonestDoor Price pulls from current market activity to give us a real-world check on what a property is actually worth today. If you are making any decision - selling, refinancing, or just figuring out your net worth - the assessed value alone is leaving money on the table in terms of your understanding of what you actually own.

• House assessed value: $663,643 - HonestDoor Price: $769,532 (gap of $105,889)
• Condo assessed value: $420,843 - HonestDoor Price: $528,100 (gap of $107,257)
• 293 house properties assessed this year
• 784 condo properties assessed this year

The Neighbourhood Leaderboard

How does Westbank Centre stack up against the neighbours? Here is a quick look at where we sit.

• Westbank: HonestDoor Price $851,485 for houses, rental estimate $3,726 - slightly pricier than us
• Goats Peak-Gellatly: HonestDoor Price $1,254,525 for houses, rental estimate $4,692 - a different price bracket entirely
• Smith Creek: HonestDoor Price $977,557 for houses, rental estimate $4,125 - also running ahead of us

For condos, we are actually the most affordable option in the comparison set, with Smith Creek coming in at $451,078 and Goats Peak-Gellatly at $578,961. If you own a condo here and have been watching buyers get priced out of other areas, that affordability angle is working in your favour when it comes to attracting interest.

On the condo transaction side, Westbank Centre ranks 1st in West Kelowna for total transactions. We are the most active condo market in the area. That is a real signal of demand.

The So What - Thinking About Selling This Summer?

If you own a house and are thinking about listing this summer, the timing is not bad. Homes are moving in 23 days, buyers are paying close to asking, and the predicted value is trending up. You are not in a panic-sell situation, but you are also not in a runaway seller's market. Price it sharp and it will move.

If you own a condo, be realistic about the timeline. At 110 days on market, you need to plan ahead. The good news is that sale prices jumped 9.5% last month and the HonestDoor Price is sitting well above what the city assessed your unit at. Get your HonestDoor Price before you set your list price - do not anchor to that assessment number and leave money behind.

Either way, the gap between assessed value and real market value in Westbank Centre is too big to ignore. Check your HonestDoor Price now, not when you are already in the middle of a deal.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.