Your 2025 Guide to Condos in Kelowna

If you've been keeping an eye on condos in Kelowna, you might have a gut feeling that things are a bit different this year. You're right. Let's get straight to it: sales have pumped the brakes, creating more openings for buyers than we've seen in a good long while. This shift puts more choice and negotiating power squarely in your corner.

An Honest Look at the Kelowna Condo Market

The Okanagan real estate market is always on the move, and the current story for Kelowna condos is one of major change. After a few years of frantic sales and ever-climbing prices, the market has finally settled into a new, calmer rhythm. For anyone looking to buy, this is fantastic news. The pressure is off, giving you the breathing room you need to make a smart decision without feeling rushed.

This slowdown isn't just a feeling; the data backs it up. We're seeing a classic buyer's market unfold, with high inventory and sales numbers dipping below the historical average. The balance has tipped, and it's favouring you.

Why the Shift to a Buyer's Market?

So, what's causing this new environment? A couple of key things are at play. Higher interest rates have made affordability a real hurdle for many, especially the first-time buyers and investors who typically keep the condo segment buzzing. At the same time, a steady flow of new condo developments has pumped up the number of available units.

Put those two things together, and you get a market with more sellers than buyers. That creates some distinct advantages if you're looking to purchase. Here’s what it means for you on the ground:

• More Options to Choose From: With so much inventory, you're not stuck picking between one or two places that sort of fit. You can actually explore different buildings, compare neighbourhoods, and find a layout you truly love.

• Real Negotiating Power: When a property has been sitting on the market for a bit, sellers are much more open to talking price and terms. This is your chance to strike a better deal.

• Time to Make the Right Choice: That feeling of "fear of missing out" has pretty much evaporated. You can take your time with viewings, properly dig into the strata documents, and put in an offer feeling confident, not cornered.

"The current condo market in Kelowna presents a strategic opening for buyers. The patience that was a luxury a few years ago is now a powerful tool. It's an ideal time to find great value without the frantic energy of a seller's market." - AJ Hazzi, Founder of Vantage West Realty

The latest stats really drive this point home. The numbers below from October 2025 paint a crystal-clear picture of where sales, inventory, and the pace of the market are right now.

The data doesn't lie. With only 84 sales happening against 437 active listings, and properties taking an average of 54 days to sell, buyers are firmly in the driver's seat.

The Kelowna condo market has hit a significant slowdown in 2025, making it one of the quietest years for condo sales in over a decade. In October 2025, just 84 condos changed hands, a 17.6% drop from the month before. When you compare that to the 10-year monthly sales average of around 110 units, and with inventory near record highs, it's clear that current conditions are well below the norm, creating a tough spot for sellers. You can get more insights on the Kelowna real estate market trends on sellingkelownarealestate.com.

What Do Condos in Kelowna Actually Cost?

Alright, let's talk numbers. If you're looking at condos in Kelowna, the first step is wrapping your head around the price. The cost isn't one simple figure; it’s a moving target shaped by location, the building's age, its amenities, and the overall pulse of Kelowna's real estate market.

Right now, we're seeing prices that reflect a shift toward a buyer's market. With more homes on the market, sellers are adjusting their expectations, and that creates real opportunities for you. But it's not a story of across-the-board price drops. Certain pockets, especially for updated units in great locations, are still holding their value incredibly well.

Reading the Price Trends

The trick is to look beyond just the sticker price on a listing. One metric we watch like a hawk is the 'days on market' (DOM). When a condo has been sitting for a while, it often signals that the seller might be more open to negotiation. This is where having a strategic partner makes a world of difference—we use hyperlocal data to pinpoint which properties are priced to sell and which ones have some wiggle room.

Condo pricing in Kelowna has been a bit of a rollercoaster in 2025, which really shows the push-and-pull between affordability pressures and strong investor interest. For example, the median condo price in October 2025 landed at $645,000, which was a noticeable 12.1% dip from the previous month.

Yet, rewind to Q2 of that same year, and the median sale price actually saw a 9.8% year-over-year increase. This tells us that buyers were still competing fiercely for premium properties even as the overall sales volume started to cool off.

What Your Budget Can Get You

To give you a clearer picture, let’s break down what different price points look like in today’s market.

• Entry-Level (Under $450,000): In this range, you're typically looking at one-bedroom or smaller two-bedroom condos, often in older but well-maintained buildings. Neighbourhoods like Rutland and parts of Glenmore offer fantastic value and are a great way to get your foot in the door of the Kelowna market.

• Mid-Range ($450,000 - $650,000): This is the sweet spot for a lot of buyers. Here you'll find modern two-bedroom, two-bathroom units in highly desirable areas like the Lower Mission or the booming Capri-Landmark district. These condos often come with updated features and solid building amenities.

• Premium & Luxury (Over $650,000): Once you cross this threshold, you’re looking at properties with prime locations, stunning lake views, and high-end finishes. Think spacious condos in the downtown Cultural District, waterfront properties in the Lower Mission, or penthouse suites with huge outdoor living spaces.

Understanding these brackets helps focus your search, but remember, the asking price is just one piece of the puzzle. What truly determines affordability is your monthly mortgage payment. Before you get too deep in your search, it's a smart move to nail down your budget. A great place to start is our guide on how to calculate mortgage payments. Taking this simple step gives you clarity and confidence when you start looking at homes.

At Vantage West Realty, our job is to provide that clarity. We help you interpret the market, see the real value behind a price tag, and make an investment you'll feel great about for years to come. Whether you're a first-time buyer or a seasoned investor, we guide you through the numbers so you can move forward with certainty.

Finding Your Fit in Kelowna Neighbourhoods

Choosing a condo in Kelowna is about more than the four walls and the view; it's about plugging into a lifestyle that feels right. Every pocket of this city has its own unique personality, and the secret to loving your new home is finding the neighbourhood that clicks with yours.

Are you chasing the buzz of city life, or do you crave a quiet retreat with epic lake views? Let's take a quick tour through Kelowna's go-to spots for condo living to help you picture where you belong.

Downtown And The Cultural District

If you feed on energy and live for convenience, Downtown Kelowna is calling your name. This is the city's vibrant, beating heart, lined with sleek high-rises that serve up incredible lake and mountain vistas. It's the natural habitat for young professionals and anyone who loves the idea of having the city's best restaurants, boutique shops, and brewpubs just an elevator ride away.

Living here means your morning jog is along the waterfront, a live show in the Cultural District is a casual stroll away, and you can meet friends for dinner without ever thinking about your car keys.

• Who it’s for: Young professionals, couples, and active downsizers who want to be in the thick of it all.

• Condo Style: Mostly newer, concrete high-rise buildings packed with modern amenities like gyms, pools, and social lounges.

We help our clients see beyond the beautiful finishes. In a downtown tower, we’re looking at the building's reputation, the health of the strata, and how well the soundproofing holds up—details that make a huge difference in your day-to-day life.

The Lower Mission

Think of the Lower Mission as resort-style living baked right into the city. This area is famous for its gorgeous beaches, mature tree-lined streets, and a vibe that’s both relaxed and family-friendly. It’s a huge draw for downsizers and families who want top-tier amenities without the 24/7 hustle of downtown.

Condo developments here tend to feel more generous, often featuring larger floor plans and impressive outdoor living spaces. You're never more than a few minutes from the H2O Adventure + Fitness Centre, the charming cafes of Pandosy Village, or some of the best sandy stretches in the Okanagan. It's the kind of place people move to and never want to leave.

Glenmore And Rutland

For buyers on the hunt for serious value without straying too far from the action, Glenmore and Rutland are brilliant choices. These communities are booming, offering a healthy mix of older, well-maintained buildings alongside brand-new developments. This makes them a sweet spot for first-time buyers and sharp investors looking for an affordable entry into the Kelowna market.

• Glenmore: Tucked just a short drive from both downtown and UBCO, Glenmore strikes a perfect balance between quiet residential streets and easy access to everything you need.

• Rutland: As a diverse and established community, Rutland is seeing a ton of new investment. This is bringing fresh energy and modern condo options to a super central location.

Both neighbourhoods have great transit connections and their own town centres with plenty of shopping, parks, and schools.

West Kelowna

Hop across the bridge and you'll find West Kelowna, which moves at a slightly different pace and boasts some of the most jaw-dropping views in the entire Okanagan. If your dream involves sipping coffee on your balcony while gazing out over Okanagan Lake and the iconic bridge, this is your spot.

West Kelowna offers a quieter, more nature-focused feel but has its own thriving community centres, world-class wineries, and golf courses. Condos here run the gamut from ultra-luxe waterfront properties to more affordable options nestled in the hills. It’s perfect for anyone who prioritizes stunning scenery and a tight-knit community feel.

If leaving the car at home is high on your list, be sure to check out our guide to Kelowna’s most walkable neighbourhoods for more ideas.

To help you compare these fantastic options at a glance, we've put together a quick snapshot.

Kelowna Neighbourhood Condo Snapshot

Neighbourhood          Best For          Average Price Range            Key Amenities

This table should give you a solid starting point, but the best way to find your perfect fit is to get out there and experience the unique vibe of each area for yourself.

Understanding Strata Living in British Columbia

When you buy a condo in Kelowna, you’re not just buying the space inside your four walls. You're buying into a shared community called a strata corporation. For a lot of people, the world of stratas, bylaws, and special levies can feel a little intimidating. We're here to cut through the noise and make it simple.

Think of a strata like being part of a team. Every owner is a player, and together, you're all responsible for maintaining the entire "stadium"—the building itself, the grounds, and all the shared amenities like a gym or pool. To keep everything running smoothly, everyone has to chip in.

What Are Strata Fees Actually For?

That monthly strata fee you see on a listing isn't just another bill. It's your contribution to the team's operating budget, and it's what protects the value of your investment by keeping the building safe, clean, and well-maintained. So, where does that money actually go?

Most of the time, your strata fees cover the essentials that make condo living so convenient:

• Building Maintenance: This covers the big-ticket items like the roof, windows, exterior walls, and shared plumbing systems.

• Common Area Upkeep: This keeps the lobby, hallways, gym, and pool looking sharp and functioning properly.

• Landscaping and Snow Removal: You can hang up your snow shovel and lawnmower for good. It’s all handled for you.

• Utilities for Common Areas: This pays for the electricity to light the hallways, heat the pool, and run the elevators.

• Building Insurance: This policy covers the entire structure and common property. You'll still need your own insurance for your unit's contents and personal liability.

• The Contingency Reserve Fund (CRF): A portion of your fees goes directly into this mandatory savings account. Think of it as the strata's rainy-day fund for major, unexpected repairs like a new boiler or roof. A healthy CRF is one of the best signs of a well-managed building.

Getting a handle on this breakdown is key to feeling confident in your purchase. For a more detailed look, our guide on what a strata fee is and what it covers is a fantastic resource.

How to Spot a Healthy Strata

Here’s the thing: not all strata corporations are managed equally. A poorly run one can lead to surprise costs and major headaches down the road. This is precisely why we guide our clients through a careful review of all the strata documents before they even think about making an offer. This isn't just paperwork; it’s the building’s report card.

At Vantage West, we treat the strata document review as one of the most critical steps in the buying process. We’re looking for the story behind the numbers—the financial health, the community dynamics, and any potential red flags—to protect your investment.

When we dive into these documents, we’re hunting for specific clues about the building’s health. We read through the strata council meeting minutes to get a feel for the community's culture and any ongoing issues or disputes. Then we analyze the financial statements to check for a healthy contingency fund and responsible budgeting.

Another crucial piece of the puzzle is the engineering report or depreciation report. This document outlines the expected lifespan of the building's major components (like the roof, elevators, and balconies) and maps out a long-term plan for funding their repair and replacement. A strata that actively follows this plan is one that's proactive, not reactive.

Bylaws, Rules, and Your Lifestyle

Beyond the financials, strata bylaws and rules dictate the day-to-day reality of living in your home. They’re designed to make sure everyone can enjoy their space peacefully, but it's essential to know what they are before you commit.

Common bylaws to look for include:

• Pet Policies: Are pets welcome? Are there restrictions on size, breed, or the number of pets you can have?

• Rental Restrictions: Can you rent out your unit? Some buildings have limitations or prohibit short-term rentals (like Airbnb) entirely. This is a critical detail for investors.

• Age Restrictions: Some buildings are designated as 55+ communities, which fosters a very specific lifestyle and environment.

• Noise and Nuisance Rules: These outline things like quiet hours and general rules of conduct to ensure everyone gets along.

Reading through these documents helps you truly picture your life there. Our job is to help you find a community where the rules align with your lifestyle, ensuring there are no unpleasant surprises after you get the keys. A well-managed strata makes for a wonderful, stress-free home.

Is a Kelowna Condo a Smart Investment?

Thinking about the long-term financial picture is just plain smart, and a condo in Kelowna can absolutely be a powerful part of that plan. Whether you're breaking into the real estate market, simplifying your life, or building a property portfolio, a condo can serve very different goals. The key is approaching it with a clear strategy that matches your personal and financial ambitions.

For many, a condo is the perfect first step onto the property ladder. It’s a chance to stop paying someone else's mortgage and start building your own equity in a market that can feel tough to enter. For others, it’s about making a deliberate lifestyle change.

The First-Time Buyer Advantage

For first-time home buyers, a condo is often the most accessible way to own property in the Okanagan. It gets you in the game, building equity and gaining a foothold in a competitive market without the massive price tag of a single-family home.

The current market, with its higher inventory levels, gives you a fantastic opportunity. You can actually find a great property without the intense pressure-cooker environment we saw just a few years ago.

The Downsizer's Dream

Downsizers often find that a condo offers a 'lock-and-leave' lifestyle that's incredibly freeing. Selling a larger family home can unlock significant equity, allowing for travel, hobbies, or simply a more relaxed financial future.

Let's be honest, the convenience is a huge draw. Having maintenance, landscaping, and snow removal handled by the strata means more time spent enjoying the Okanagan and less time on home upkeep.

The Investor's Playbook

For the dedicated real estate investor, a Kelowna condo can be a solid income-producing asset. But success here hinges on one thing: knowing your numbers and understanding the local rental market inside and out. You have to calculate your potential cash flow by subtracting all expenses (mortgage, strata fees, property taxes, insurance) from the rent you expect to collect.

A key factor for investors right now is the massive shift in market dynamics. Kelowna's condo inventory has reached historically high levels, with supply growing much faster than buyer demand throughout 2025. Listings peaked at an incredible 971 units in June 2025 and, even after a slight dip, remained 11.5% higher in October 2025 compared to the previous year.

With about nine months of inventory on the market, the negotiating power has shifted decisively to buyers. This has created some unique opportunities for savvy investors who know where to look. To get a better handle on these numbers, you can discover deep insights into the 2025 Okanagan market supply.

When we work with investors, our focus is on identifying buildings with strong fundamentals: a healthy strata, reasonable fees, and a location that consistently attracts quality, long-term tenants. A property that looks good on paper has to perform in the real world.

Identifying the right property involves more than just a good price. You should be looking for:

• Buildings with Strong Resale Potential: Think condos in desirable, walkable neighbourhoods like Downtown or the Lower Mission. These always hold their value.

• Properties that Attract Quality Tenants: Units near UBCO, Kelowna General Hospital, or major employment hubs are always in demand.

• Amenities that Add Value: Things like in-suite laundry, secure parking, and modern finishes can command higher rent and reduce vacancy time.

Whether you're buying your first home or your fifth, the goal is always the same: make a sound financial decision that supports your life goals. With our deep market knowledge, we can help you analyze the pros and cons, run the numbers, and find a condo that’s not just a great home, but a smart investment in your future.

Your Next Steps to Buying a Condo in Kelowna

Ready to make a move? It’s an exciting feeling when you shift from just browsing condos in Kelowna online to seriously thinking about buying. This is where having a clear plan transforms what can be an overwhelming process into a confident, straightforward journey.

The first, most critical step is getting your finances squared away. Before you even think about viewing properties, you need to get a mortgage pre-approval. This is non-negotiable.

A pre-approval letter tells you exactly what you can afford, signals to sellers that you're a serious contender, and gives you the power to make a strong, decisive offer the moment you find the right place.

Making the Most of Property Viewings

Once your budget is locked in, the real fun begins: touring condos. It’s easy to get swept up by fresh paint, shiny new appliances, or a stunning lake view. But long-term happiness—and a smart investment—comes from looking past the surface-level charm.

Here are a few insider tips on what to really focus on during a viewing:

• Check the Building's Condition: Take a good look at the common areas. Are the hallways, lobby, and parkade clean and well-maintained? The state of these shared spaces is often a direct reflection of how proactive and effective the strata corporation is.

• Assess Storage and Parking: Is there a dedicated storage locker? Where is the parking stall located, and is it a decent size? These seemingly small details have a huge impact on day-to-day life.

• Listen for Noise: Just stand still for a minute and listen. Can you hear your neighbours, people in the hallway, or traffic from the street? Good soundproofing is the hallmark of a quality build, and you’ll be thankful for it later.

This is where the Vantage West Realty partnership truly shines. We guide you through every detail, from spotting red flags during a viewing to crafting a competitive offer that protects your interests.

Our promise is simple: authenticity and accountability. We're here to ask the tough questions you might not think of, ensuring there are no surprises down the road. We’ll help you navigate the subject removal process and make sure you feel fully supported, from your very first search to the moment you get the keys.

Got Questions About Kelowna Condos? We Have Answers.

It's smart to ask questions when you're thinking about buying a condo in Kelowna. It’s a big decision, and getting the right information upfront is the key to feeling good about your purchase. We get asked a lot of the same questions, so we've put together some straight-talk answers to the most common ones.

Our goal is always to cut through the complexity and give you the clarity you need to move forward.

What Are Typical Strata Fees for Condos in Kelowna?

Strata fees in Kelowna are all over the map, really. It depends heavily on the building's age, its size, and what kind of perks it offers. For a pretty standard two-bedroom condo in a newer building, you're likely looking at somewhere between $350 and $550 a month.

Now, if you're eyeing a luxury high-rise with all the bells and whistles—like a pool, a massive gym, and a concierge—those fees can easily climb to $700, even $1000+. On the flip side, older buildings might seem like a bargain with lower fees, but you absolutely have to dig into their contingency reserve fund. A healthy fund means they’re prepared for big repairs, which is exactly what you want to see.

Are There Many New Condo Developments in Kelowna?

Absolutely. Kelowna is still a hotbed for new construction, with cranes dotting the skyline in Downtown, South Pandosy, and parts of Rutland. We're seeing everything from soaring high-rises to more intimate low-rise projects going up.

All this new inventory is great for buyer choice, but it's also a big reason why supply is up right now. If you're considering a pre-sale, there’s a whole different set of rules to play by—you've got GST, uncertain completion dates, and the developer's track record to think about. It’s critical to have a REALTOR® in your corner who knows new construction contracts inside and out.

How Does the Market Affect Getting Financing for a Condo?

With the market shifting and interest rates being what they are, locking in a solid mortgage pre-approval is non-negotiable. Lenders aren't just looking at your personal finances anymore; they're putting the building and the strata corporation under a microscope.

In a market with more condos for sale, you might find lenders are a bit more conservative with their property valuations.

Some buildings are just plain tough to get financing for, especially if they're tangled up in litigation or have a very low number of owner-occupiers. This is where a great mortgage broker who truly knows the Kelowna scene is worth their weight in gold.

They know which lenders are friendly to certain types of properties and can guide you through the hurdles. Getting this sorted out early means you're ready to pounce with a confident offer when the right place comes along.

If you’re thinking about buying or selling condos in Kelowna, Vantage West Realty can help you make your next move with confidence. Reach out today.