Fair market value isn’t a guess — it’s the price a typical buyer is willing to pay under current market conditions. In Kelowna, that value can vary dramatically from street to street, even within the same neighbourhood.
The most reliable way to determine fair market value is through a Comparative Market Analysis (CMA). This method compares your property to similar homes that have actually sold, not just those currently listed. Factors such as square footage, age, layout, condition, lot size, and recent upgrades all play a role.
While tools like BC Assessment can provide a rough benchmark, they often lag behind real-time market shifts and don’t account for renovations or property-specific features. Professional appraisals offer formal valuations but are usually reserved for financing or legal purposes.
In 2025, the average Kelowna home price sits near $814,000, but neighbourhoods differ widely. For example, detached homes in Glenmore often exceed $1.07 million, while other areas offer more attainable entry points.
To avoid underpricing or overestimating value, Anthony Shephard from 2% Realty provides free, data-driven market evaluations tailored to individual properties. He combines decades of local experience with a 2% commission model. More details can be found at www.RealEstateShephard.com
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