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.
EXECUTIVE SUMMARY
DID YOU KNOW? In 2024 the average price of a single family lakefront 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.
LUXURY HOME SALES OVER $3 MILLION
GO BACK IN TIME? AVERAGE PRICE OF LAKEFRONT HOME IN 2014 WAS $2,013,708
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.
OUR LAKEFRONT PICKS
Property Client Flyer
Here are 4 lakefront homes across 4 different prices ranges. There are currently 47 single family lakefront homes for sale as of November 19th.
MLS® #: 10327871
Price: $2,595,000
37 Traders Cove Road, Kelowna, British Columbia V1Z 3S3
Price: $2,595,000
37 Traders Cove Road, Kelowna, British Columbia V1Z 3S3
Nestled in the neighborhood of Trader’s Cove, this beautiful waterfront property 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 2level main home sits above the waterfront & features an open-concept kitchen & living area with vaulted ceilings, & a cozy electric fireplace. The kitchen boasts newer quartz countertops, stainless steel appliances, & a spacious center island, creating a perfect gathering space. With 2 beds, 3 bath, a generous rec room (also a suite area) & ample storage, there’s room for everyone. Step outside to a large lakeview balcony on the main level or relax on the covered deck below. Automatic blinds throughout. The guest/summer cabin, right at the water’s edge, offers 1 bed, 1 bath, a kitchen, dining room, and a covered patio leading directly to the dock. Updates include: windows replaced 8 months ago, separate controlling mini splits in each room, new garage doors on double and the exit garage door, main roof and cabin roof replaced 4 years ago, main roof and cabin roof replaced 4 years ago, new Hardie board exterior on cabin. Property is surrounded by mature, fully irrigated landscaping with a variety of fruit trees. Two-car garage and a new licensed dock in 2018 equipped with a 4,000 lb lift and deep-water moorage. Enjoy seasonal or year-round living at this beautiful lakeside home.
Nestled in the neighborhood of Trader’s Cove, this beautiful waterfront property 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 2level main home sits above the waterfront & features an open-concept kitchen & living area with vaulted ceilings, & a cozy electric fireplace. The kitchen boasts newer quartz countertops, stainless steel appliances, & a spacious center island, creating a perfect gathering space. With 2 beds, 3 bath, a generous rec room (also a suite area) & ample storage, there’s room for everyone. Step outside to a large lakeview balcony on the main level or relax on the covered deck below. Automatic blinds throughout. The guest/summer cabin, right at the water’s edge, offers 1 bed, 1 bath, a kitchen, dining room, and a covered patio leading directly to the dock. Updates include: windows replaced 8 months ago, separate controlling mini splits in each room, new garage doors on double and the exit garage door, main roof and cabin roof replaced 4 years ago, main roof and cabin roof replaced 4 years ago, new Hardie board exterior on cabin. Property is surrounded by mature, fully irrigated landscaping with a variety of fruit trees. Two-car garage and a new licensed dock in 2018 equipped with a 4,000 lb lift and deep-water moorage. Enjoy seasonal or year-round living at this beautiful lakeside home.
Type: Residential Taxes: $6,256
Year Built: 1991
Parking Feat: Garage - Attached
Lot Acres: 0.36
Type: Residential Taxes: $6,256
Covered: 2
Year Built: 1991
Beds: 2
Parking Feat: Garage - Attached
Full Baths: 2
Covered: 2
Half Baths: 1
Beds: 2
Full Baths: 2
Ttl Fin SqFt: 2,131
Half Baths: 1
Ttl Fin SqFt: 2,131
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: Irrigation District
Sewage: Septic
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: Residential Taxes: $24,292
Year Built: 2004
Parking Feat: Additional Parking, Garage - Attached
Covered: 2
Beds: 4
Full Baths: 5
Half Baths: 0
Ttl Fin SqFt: 4,560
Lot Acres: 0.40
Basement: Crawl Space
Cooling: Central Air
Heating: Natural Gas, Forced Air
Water: Municipal
Sewage: Public Sewer
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: Residential Taxes: $17,044
Year Built: 2006
Lot Acres: 0.15
Parking Feat: Additional Parking, Garage - Attached, Heated, Oversized
Covered: 3
Beds: 4
Full Baths: 4
Half Baths: 1
Ttl Fin SqFt: 3,785
Basement: Crawl Space
Cooling: Central Air
Heating: Forced Air, Floor Furnace (In-Floor), Natural Gas
Water: Municipal
Sewage: Public Sewer
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: Residential
Year Built: 2007
Parking Feat: Garage - Attached
Covered: 4
Beds: 5
Full Baths: 6
Half Baths: 2
Ttl Fin SqFt: 7,766
Taxes: $29,400
Lot Acres: 2.31
Basement: Full, Finished, Walk-Out Access
Cooling: Central Air, Geothermal
Heating: Floor Furnace (In-Floor), Electric, Geothermal, Propane
Water: Lake Intake
Sewage: Septic
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.
