Kelowna's Housing Crisis: Typical Mortgage Payments Exceed 60% of Income

Big White Real Estate Prices Surge: What it Means for Buyers

Update Big White’s Real Estate Market Gains MomentumAfter facing uncertainties in past years, the real estate market at Big White Ski Resort is making a notable comeback. Fresh data shows that the median selling price of condominiums has surged by 15.3%, rising from $413,000 to $476,000 within the first nine months of the year. Looking ahead into 2026, predictions hint at another potential increase of 7%, pushing prices toward $509,320. Conversely, the median price of single-family homes—often referred to as chalets—has also experienced a 5.4% jump to $1,592,000, with expectations to further climb to $1.7 million as we enter the new year.These figures are particularly impressive when compared to nearby Kelowna, where benchmark prices stand at $489,500 for a condo and $1,042,900 for a single-family home. Amanda Cormier, a realtor specializing in Big White real estate, notes the varied market dynamics: "There are fewer single-family homes at Big White, and they tend to be luxurious and carry a hefty price tag. This fact makes condominiums significantly more appealing for buyers looking to enter the market." As buyers seek affordable alternatives, the increase in condo availability makes Big White an attractive option.Understanding the DemandFrom January to October of this year, Big White recorded 90 property sales, a slight increase from 81 sales in the same timeframe of 2024. While the sales volume remains modest, it signals a resurgence in real estate activity, particularly during the upcoming ski season. Cormier shared insights regarding the fluctuating market, "The pandemic and the low interest rates created a boom, but we’ve now corrected course. The lower interest rates in 2025 appear to have reignited buyer confidence and affordability, leading to increased transactions. Buyers are starting to re-enter, marking a promising trend for the season."Investment and Rental TrendsOne of the driving factors behind the resurgence in sales at Big White is that potential buyers, previously considering options in the U.S., are now turning their focus back to local listings. With the price of a chalet at $1.6 million and condominiums averaging $476,000, Big White finds itself in the upper tier among ski resort real estate markets. Comparisons reveal that Whistler remains the most expensive, with typical chalets priced around $1.8 million, whereas Big White offers properties that feel luxurious without compromising on value.Investors are also increasingly attracted to Big White due to the lack of short-term rental restrictions, unlike Kelowna, which enhances the rental opportunities for properties year-round—boosting appeal for owners looking to offset costs. The demand for short-term rentals, much like platforms such as Airbnb, consolidates the notion that Big White can be a lucrative avenue for real estate investment.Market Comparisons and Future PredictionsThe statistics provide a stark picture of how Big White stacks up against other ski resorts across Canada. For example, Sun Peaks has single-family homes averaging $1,662,500 and condos at $422,500, while Canmore showcases prices at around $1.9 million for chalets and $754,700 for condos. When it comes to the cheapest options in snow-laden areas, Mont Grand Fonds represents affordability at a median price of $285,000 for single-family homes.With the ongoing changes in interest rates and the broader economic climate, anticipations for Big White's market remain cautiously optimistic. As the ski season approaches, the number of fresh listings will undoubtedly play a key role in supplying and maintaining price stability. The residential market has observed broader trends, indicating that, as values stabilize, there is significant hope for appreciation moving forward. With record skier numbers and property rental appeal, now may be a pivotal time for potential buyers.What This Means for BuyersFor buyers contemplating an investment at Big White, understanding the landscape is crucial. The continuing appeal thanks to its stunning location and recreational opportunities given its transformation into a year-round destination makes the area even more tantalizing for various investees. The potential for strong returns shines through the interplay between purchase price, rental income, and overall demand in the marketplace. Additionally, new developments such as boutique subdivisions and townhouses signal growth and opportunity.Gathering insights from real estate trends, buyers should take proactive steps to examine properties within their budget while recognizing the attributes that would make them appealing for future reselling or rental. Proper consideration allows prospective homeowners or investors to leverage favorable economic conditions and potentially strike a deal that benefits them the most.Time to ActThe current momentum of the Big White real estate market could compel interested buyers to act quickly. For those ready to secure a property, reaching out to local realtors for personalized advice based on their specific needs may yield significant advantages in a competitive landscape. As we move forward into a new ski season, the renewed energy combined with favorable purchasing options sets the stage for positive forecasts regarding property transfers, making it the perfect opportunity to explore investment possibilities at Big White Ski Resort.