Okangan Lakeshore Property Report

OKANAGAN LAKESHORE PROPERTY REPORT

MARKET TRENDS AND INSIGHTS

2024

MARKET TRENDS AND INSIGHTS The Central Okanagan boasts 14 distinct neighborhoods along its pristine lakefront. This coveted area represents some of the most sought-after real estate in the region. At Team Simpson, we are not only REALTORS® but also lakefront residents who know this market inside and out. In this report, we offer you exclusive insights into the trends and dynamics shaping the Okanagan’s lakeshore property market.

LAKE COUNTRY SOUTH WEST

MCKINLEY LANDING

NMO

GLE

CL

IFT ON

RO AD

WESTSIDE ROAD

R

RE D

WEST KELOWNA ESTATES

WILDEN

NG GLENMORE KELOWNA NORTH

CLEMENT AVE HWY 97

Y

LAKEVIEW HEIGHTS

PEACHLAND

97 MISSION CREEK

EAST BOUNDARY RD

WESTBANK CENTRE

HW

OKANAGAN LAKE

DOWNTOWN KELOWNA SOUTH

SE LOWER MISSION BARNABY RD

UPPER MISSION

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EXECUTIVE SUMMARY

DID YOU

KNOW? In 2024 the ave rage price of a single family lakef ron t home was $4 ,338,736

As you can see in the graph above, lakefront sales have really dropped off since the pandemic-fueled buying frenzy of 2020 and 2021. The two years that followed saw sales drop by 50%. 2024 is continuing on this trend and after the third quarter of 2024, there have only been 10 sales, putting us on pace to have even lower sales than 2023. We do not expect much to happen in this space in Q4. However, we are predicting activity will pick up in late Q1 and Q2 of 2025.

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LUXURY HOME SALES OVER $3 MILLION

TIME? N I K C GO BA E OF

E PRIC N AVERAG HOME I T N O R F LAKE 13,708 ,0 2 $ S A 2014 W

This section highlights the demand for high-end properties over $3 Million, a key indicator of the luxury market in the region. The data spans from 2010 to 2023 and reflects the growing interest in high-value properties and of course, the strong appreciation that home values on the lake experience. Today, it is difficult to find a lakeshore home for under $2 Million. We are purposely not including “average lakeshore home sale price,” as the data gets skewed easily due to the low number of homes sold. For example, a home sold for $16 Million this year.

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Property Client Flyer

OUR LAKEFRONT PICKS Property Client Flyer prices ranges.

Here are 4 lakefront homes across 4 different There are currently 47 single family lakefront homes for sale as of November 19th.

MLS® #: 10327871 Price: $2,595,000

MLS® #: 10327871

37 Traders Cove Road, Kelowna, British Columbia V1Z 3S3

Price: $2,595,000

Nestled in the neighborhood of Trader’s Cove,British this beautiful waterfront property 37 Traders Cove Road, Kelowna, Columbia V1Z 3S3 offers 90 ft. of pristine shoreline. Enjoy exceptional views of Okanagan Lake & the city lights from Kelowna. Designed for year-round enjoyment, the property features both a main house and a guest/summer cabin. The 2Nestled in the sits neighborhood Trader’s Cove, this beautiful waterfront property offersarea 90 ft. of level main home above the of waterfront & features an open-concept kitchen & living with pristine shoreline.

Enjoy exceptional of Okanagan Lakeboasts & the newer city lights from Kelowna. Designed vaulted ceilings, & a cozy electricviews fireplace.

The kitchen quartz countertops, stainless for year-round enjoyment, the property features both a main house and a guest/summer 2- a steel appliances, & a spacious center island, creating a perfect gathering space. With 2cabin. beds,The 3 bath, level main home sits above the waterfront & features an open-concept kitchen & living area with generous rec room (also a suite area) & ample storage, there’s room for everyone. Step outside to a vaulted ceilings, & abalcony cozy electric The boasts newer quartz countertops, stainless large lakeview on thefireplace. main level orkitchen relax on the covered deck below.

Automatic blinds a spacious center island, creating a perfect gathering 2 beds, 3 bath,dining a steel appliances, throughout.

The&guest/summer cabin, right at the water’s edge, offersspace.

1 bed,With 1 bath, a kitchen, generous rec room (also a suite area) & ample storage, there’s room for everyone.

Step outside to a room, and a covered patio leading directly to the dock. Updates include: windows replaced 8 months large lakeview balcony onmini the splits main level or relax thegarage covered deck on below.

Automatic ago, separate controlling in each room,on new doors double and the blinds exit garage throughout.

The guest/summer cabin, right 4 atyears the water’s edge, offers bed, roof 1 bath, a kitchen, dining 4 years ago, door, main roof and cabin roof replaced ago, main roof and1cabin replaced room, and a covered patio leading directly to the dock. Updates include: windows replaced 8 months new Hardie board exterior on cabin. Property is surrounded by mature, fully irrigated landscaping with ago, separate controlling mini splits in each room, new garage doors on double and the exit garage a variety of fruit trees. Two-car garage and a new licensed dock in 2018 equipped with a 4,000 lb lift door, main roof and cabin roof replaced 4 years ago, main roof and cabin roof replaced 4 years ago, and deep-water moorage. Enjoy seasonal or year-round living at this beautiful lakeside home. new Hardie board exterior on cabin. Property is surrounded by mature, fully irrigated landscaping with a variety of fruitResidential trees. Two-car garage and a new licensed dock in 2018 equipped Type: Taxes: $6,256with a 4,000 lb lift and deep-water moorage.

Enjoy seasonal or year-round living at this beautiful Year Built: 1991 Lot Acres: 0.36 lakeside home.

Parking Feat: Garage - Attached Type: Residential Covered: 2 Year Built: 1991 Beds: 2 Parking Feat: Garage - Attached Full Baths: Covered: 22 Half Baths: Beds: 21 Ttl Fin SqFt: Full Baths: 2 2,131 Half Baths: 1 Ttl Fin SqFt: 2,131

Taxes: $6,256 Basement: Lot Acres: 0.36 Cooling: Heat Pump, Other Heating: Baseboard, Electric, Other Basement: Water: Irrigation District Cooling: Heat Pump, Other Sewage: Septic Heating: Baseboard, Electric, Other Water: Sewage:

Irrigation District Septic

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Property Client Flyer

MLS® #: 10327009 Price: $4,695,000 4100 Lakeshore Road, Kelowna, British Columbia V1W 1V6 Located along the shores of Okanagan Lake, this gated waterfront home sits on .40 acres of mature, manicured grounds and spans over 4,400 square feet. This remarkable property blends timeless luxury with natural beauty, featuring 53 feet of pristine water frontage, a sandy beach and a private dock—every day feels like a vacation. The kitchen showcases a spacious layout with ample storage, quality Thermador appliances, and a generous island. French doors off the dining open to your private paradise, complete with a heated covered deck featuring rock columns and a built-in BBQ station with a full fridge. Adjacent to the kitchen is a cozy sunken family room, while down the hall, you'll find a steam shower, a bedroom with an ensuite, a 1500-bottle wine cellar, and double car garage with EV charger. On the second level, indulge in serene lake views from the primary wing, which boasts a private patio, walk-in closet, den and large ensuite. This floor also includes two additional bedrooms with ensuites, a cozy loft area and another two balconies. Just outside Kelowna's Resort District and minutes from wineries, golf courses, pickleball and vibrant dining experiences, this home offers not just luxury but a lifestyle rich in leisure and adventure.

Type: Year Built: Parking Feat: Covered: Beds: Full Baths: Half Baths: Ttl Fin SqFt:

Residential 2004 Additional Parking, Garage - Attached 2 4 5 0 4,560

Taxes: Lot Acres:

$24,292 0.40

Basement: Cooling: Heating: Water: Sewage:

Crawl Space Central Air Natural Gas, Forced Air Municipal Public Sewer

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MLS® #: 10325901 Price: $3,990,000 3681 Green Bay Landing, West Kelowna, British Columbia V4T 2B7 Stunning Lakefront Retreat in Green Bay Landing. Welcome to your dream waterfront oasis in the exclusive gated community of Green Bay Landing. This luxurious 4-bedroom, 5-bathroom home offers the ultimate in lakeside living, boasting high-end finishes and breathtaking views of Okanagan Lake. Step inside and be captivated by the open-concept layout, featuring a gourmet kitchen, a large island and a convenient wine bar. The spacious living & dining areas seamlessly flow out to a massive patio-perfect for entertaining or simply relaxing as you take in the serene waterfront views. The expansive primary suite is a true sanctuary, complete with its own private balcony overlooking the lake, a spa-like ensuite with a soaker tub, walk-in shower and dual vanities. Three additional bedrooms (one with own ensuite) are located on the upper level, offering ample space for family or guests. Bonus TV room also on the top floor. Outdoors, enjoy your own piece of paradise with a gorgeous sandy beach, a state-of-the-art outdoor kitchen, and a hot tub to unwind after a day on the water. With extensive patio space, both covered and open, this home is designed for year-round enjoyment. Private boat slip with lift is just steps away to enjoy an afternoon on the lake. Located in one of West Kelowna’s most desirable communities, this home provides both privacy and convenience, all while being just minutes away from world-class wineries, golf courses, and the vibrant amenities of the Okanagan Valley.

Type: Year Built: Parking Feat: Covered: Beds: Full Baths: Half Baths: Ttl Fin SqFt:

Residential Taxes: $17,044 2006 Lot Acres: 0.15 Additional Parking, Garage - Attached, Heated, Oversized 3 Basement: Crawl Space 4 Cooling: Central Air Forced Air, Floor Furnace (In-Floor), 4 Heating: Natural Gas 1 Water: Municipal 3,785 Sewage: Public Sewer

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MLS® #: 10301773 Price: $7,549,000 225 Swick Road, Kelowna, British Columbia V1W 4J5 Lakefront vineyard estate home on 2.31 private acres w/160’ of sandy beach. State of the art geothermal heating/cooling and green living eco septic system. European chateau inspired boasts a new dock, elevator, wine cellar, private vineyard, office, gym + theatre. 8000 sq ft, 5 bdrm, 8 bath.

Main floor primary suite w/ reading area + fireplace, luxury hotel like bath, great room w/soaring ceilings, stone fireplace and French doors that lead out to a lakefront patio w/ sunset views. The chateau kitchen w/ best in class Wolf/SubZero appliances, lakeview kitchen table along w/bar seating, formal dining room, main floor laundry and a wet bar round. The upper level w/2 large bdrms w/ensuites and huge family/guest suite w/ensuite, laundry, kitchenette. The lower level has a gym +spa bath, wine cellar, games rm, theatre, sauna, family rm and a large office w/ensuite. Elevator + accessible ramps. 4 car garage plus bonus storage. Explore your options to add a guest house. Outdoor kitchen/hot tub. Licenced dock w/power lift. Htd tile floors, Pella windows, state of the art water filtration/controls, htd driveway. Smart Lutron system w/power blinds, custom lighting, audio, alarm.

Timeless design w/ tile roof, copper gutters and Kettle Valley stone exterior. A relaxing waterfall entrance. Private vineyard w/90 Chardonnay vines with room to expand vineyard. Mins to the award winning Cedar Creek + Martins Lake wineries, Bertram Park and the amenities of Lower Mission. Room for pool.

Type: Year Built: Parking Feat: Covered: Beds:

Residential 2007 Garage - Attached 4 5

Taxes: Lot Acres:

$29,400 2.31

Basement: Cooling:

Full Baths:

6

Heating:

Half Baths: Ttl Fin SqFt:

2 7,766

Water: Sewage:

Full, Finished, Walk-Out Access Central Air, Geothermal Floor Furnace (In-Floor), Electric, Geothermal, Propane Lake Intake Septic

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SUMMARY Okanagan Lakeshore properties, renowned for their stunning lake views, private beach access, and premium lifestyle appeal, remain some of the most coveted real estate in British Columbia. Recent market adjustments have seen values soften slightly, reflecting broader economic factors impacting buyer activity and lending conditions. This temporary dip offers a unique opportunity for prospective buyers to enter the market at a more accessible price point, a rare occurrence for such high-demand properties. Despite the current fluctuations, Okanagan’s lakeshore real estate is expected to rebound robustly. The area’s strong appeal as a vacation destination, coupled with limited lakeshore inventory, ensures that demand will remain resilient. Over the coming years, as the market stabilizes and economic conditions improve, values are anticipated to appreciate steadily, restoring the upward trajectory historically seen in the region. For investors and homeowners, this period represents a strategic time to consider Okanagan Lakeshore assets.

simpsonrealtors.com | 778-484-8048 | info@simpsonrealtors.com