Your 2025 Guide to the Real Estate Market Kelowna

Navigating the real estate market Kelowna presents can feel overwhelming, but a clearer picture is starting to form for 2025. What we're seeing is a market that's finding its footing again. There are more homes for sale, which hands buyers more choice and some much-needed negotiating leverage. At the same time, pricing in key areas has held strong, giving sellers a dose of confidence.

Simply put, it’s a market that rewards smart, well-informed decisions over emotional ones.

Understanding the Kelowna Real Estate Market in 2025

If you’re trying to make sense of the constant headlines about home prices, inventory levels, and where the real opportunities are across the Okanagan, you're not alone. We get it—it can be confusing. Our goal is to cut through the noise and give you a straightforward look at what’s really happening on the ground.

Think of this guide as your starting point for making moves with confidence. Whether you’re a first-time buyer feeling a bit lost, a seller determined to get the best possible outcome, or an investor scouting for the next smart play, we’ll break it all down.

This chart gives you a quick snapshot of the key metrics—price, sales, and inventory—that are currently steering our local market.

The numbers point to a market in transition. The rise in available homes is creating more balanced conditions, which is a significant shift from the frenzy of the last few years.

Kelowna Real Estate Market at a Glance

To give you a clearer picture, here’s a quick summary of how different property types are performing across the Kelowna area.

Property Type      Average Sale Price      Sales Volume    Inventory Level

This table highlights the nuances at play. While single-family homes hold steady, the condo market is seeing more inventory, creating different opportunities and challenges for buyers and sellers in that space.

Key Trends to Watch

This year is all about digging into the specifics. We're exploring everything from the resilience of single-family homes to the unique dynamics unfolding in the condo and townhome sectors. Understanding these subtleties is what separates a good decision from a great one.

For instance, just because the overall number of homes for sale has gone up, it doesn't mean it's the same story everywhere. Certain neighbourhoods in West Kelowna might see homes selling faster, while downtown Kelowna condos are facing a completely different set of pressures. For a closer look at the most recent data, check out our deep dive on what the latest numbers say about our market and what it means for you.

"Making a great real estate decision is about understanding the current conditions and making them work for you. Right now, that means being strategic, prepared, and well-advised." - AJ Hazzi, Founder of Vantage West Realty

What This Means for You

So, what does all this data actually mean for your personal real estate goals? Let's break it down.

• For Buyers: More homes on the market means more options and less pressure. This is your chance to find a property that truly fits your needs without getting swept up in the frantic bidding wars of the past.

• For Sellers: Smart pricing and exceptional marketing are essential. With more competition out there, how your home is presented from day one makes all the difference in attracting the right buyers and securing a top-dollar sale.

• For Investors: A balanced market is where new opportunities are found. The key to building your portfolio in the Okanagan right now is identifying undervalued properties or neighbourhoods with strong long-term growth potential.

The Resilient Single-Family Home Market

When you look at the different parts of the Kelowna real estate market, single-family homes are telling a powerful story of resilience. In a year defined by shifts and adjustments, detached homes are showing surprising strength, holding their ground in a way that’s caught the attention of buyers and sellers alike.

This steadiness makes them a focal point for families looking to upsize, people relocating to the Okanagan for its lifestyle, and homeowners ready to sell their property.

Unlike other segments where inventory is piling up, the single-family home market has a different feel. It’s more balanced. This creates a unique environment where both buyers and sellers can find opportunities—if they know where to look and how to approach the negotiation table.

What the Latest Data Reveals

To really understand what’s happening, let’s unpack some key metrics. Recent sales data shows that prices for single-family homes have remained remarkably stable, even with more homes available for sale than we saw a couple of years ago.

This tells us that the demand for the classic Kelowna lifestyle—a house with a yard, room for the family, and a connection to the beautiful Okanagan outdoors—remains as strong as ever.

Here’s a breakdown of what we’re seeing:

• Steady Pricing: The average sale price for detached homes has seen modest but firm growth, avoiding the volatility seen elsewhere. For sellers, this means your asset has held its value well.

• Increased Buyer Choice: With more listings on the market, buyers have the breathing room to be more selective. The days of frantic, over-asking offers have been replaced by thoughtful decision-making.

• Longer Days on Market: Homes are taking a bit longer to sell, with days on market averaging around 89 days. This is a sign of a normalizing market. It gives buyers time to do their due diligence and sellers the opportunity to attract a truly committed buyer.

This shift toward balance is a healthy sign for the long-term stability of the Okanagan real estate market. It moves us away from extremes and toward a more sustainable pace.

Interpreting the Numbers for Your Move

So, what does this all mean for you? If you’re a buyer, this environment is your friend. You can tour homes without the pressure of having to make a snap decision. You have the power to negotiate on terms and price, especially on properties that have been on the market for a little while. The key is to be prepared with a mortgage pre-approval so you can act confidently when you find the right place.

For sellers, success comes down to strategy. Proper pricing from day one is absolutely critical.

In a market with more inventory, your home needs to stand out. It’s about positioning your property to attract serious offers from qualified buyers who recognize its true value.

Data from late 2024 provides a clear picture of this resilience. November saw 141 single-family homes sold, an 8% increase from the previous year, while active listings actually dropped by 6%. This dynamic—sales up, listings down—has helped keep prices firm, with the average sale price climbing 8% to $1,154,698, outperforming other property types.

Even with about 10 months of inventory signaling a buyer's market, this positive momentum for detached properties is undeniable and highlights strategic opportunities for those working with a data-driven team.

Finding Your Opportunity

Whether you're buying or selling a single-family home in Kelowna, West Kelowna, or Vernon, the current market is full of potential. The key is understanding the specific dynamics at play.

Buyers can leverage the increased choice and negotiation room to secure a family home that fits their long-term goals. Sellers, on the other hand, can capitalize on the stable pricing by working with an expert team that knows how to market a property effectively to stand out from the competition. At Vantage West Realty, we help clients navigate these nuances every single day, turning market data into successful outcomes.

Decoding the Condo and Townhome Market

If the single-family home market is telling a story of resilience, the condo and townhome segment is singing a completely different tune. This part of the Kelowna market has its own unique rhythm right now, and understanding that beat is the key to your success—whether you're a first-time buyer, a downsizer, or an investor.

This corner of the real estate market Kelowna is currently defined by one thing: high inventory. For anyone navigating this space, that single fact changes everything, from pricing right down to your negotiating power. It’s a world of opportunity, but you absolutely need a clear strategy to make the most of it.

We're seeing some of the slowest sales activity for condos in over a decade. This isn't a reason to panic; it’s a signal that the market has shifted firmly into the hands of buyers. For sellers, it means standing out is more critical than ever. For buyers, it means you finally have the power of choice.

Understanding the High-Inventory Environment

So, what does a "high-inventory environment" actually feel like on the ground? Think of it like a grocery store with shelves that are fully stocked with your favourite cereal. You’re not in a rush to grab the first box you see. You can take your time, compare prices, and maybe even wait for it to go on sale.

That’s exactly what’s happening in the Kelowna condo and townhome market. There are simply more properties for sale than active buyers, which leads to a few key outcomes:

• More Negotiation Power for Buyers: With less competition breathing down your neck, you can make offers with more confidence and have a much better shot at negotiating on price and conditions.

• Pressure on Pricing: When supply outweighs demand, prices tend to soften or hold flat. Sellers need to be sharp and price their properties competitively right from day one to attract any real attention.

• Longer Days on Market: Condos and townhomes are taking longer to sell. Seeing a property that’s been listed for a few weeks isn’t a red flag anymore; it’s just the new normal for this segment.

This environment is especially important for downsizers moving from a single-family home and for first-time buyers trying to get a foothold in the Kelowna real estate scene. It's a market that rewards patience and solid preparation.

"In a market flooded with options, the properties that sell are the ones that are priced right and marketed brilliantly. For buyers, this is your moment to find incredible value if you’re guided by an expert who knows the inventory inside and out." - AJ Hazzi, Founder of Vantage West Realty

What the Numbers Are Saying

The data paints a very clear picture of this shift. Kelowna's condo market in 2024 has seen decade-lows in sales activity, with recent months struggling to even break 100 units sold. To put that in perspective, November 2024 recorded just 75 condo sales, a significant 23% drop from the previous year, while active listings climbed to nearly 750.

This imbalance pushed the months of inventory to about 10, meaning it would take that long to sell all available condos at the current sales pace. This buyer-favoured climate is also reflected in the average price, which dipped 5% to $479,439 as sellers adjusted to the new reality.

This slowdown, heavily influenced by inflation and higher interest rates, creates a strategic opening for savvy buyers and investors looking to add to their portfolios. The market's seasonal rhythm is still there, but the underlying conditions have fundamentally changed.

Strategies for Success

So, how do you make this market work for you? Your approach depends entirely on what you’re trying to achieve.

For Buyers:
This is your time. With more inventory to choose from, you can afford to be selective. Focus on well-maintained properties in desirable locations like the Lower Mission or downtown. And don’t be afraid to make a fair offer below the asking price, especially if a property has been sitting on the market for over a month. To learn more about the specifics of high-rise living, check out our guide to buying Kelowna high-rise condos.

For Sellers:
Your strategy needs to be flawless, and that comes down to two things: pricing and presentation. Your property must be priced accurately based on recent comparable sales—not on what you hope to get. Secondly, it needs to look its absolute best. Professional staging, high-quality photos, and a powerful marketing plan are no longer optional extras; they are essentials if you want to capture buyer interest in such a crowded field.

Winning Strategies for Kelowna Home Buyers

Navigating the Kelowna real estate market can feel like a high-stakes game, but it doesn't have to be. For the first time in years, buyers are finding themselves with more homes to choose from and, more importantly, a bit more say at the negotiation table. Let's treat this section as your playbook for turning the current market conditions into your winning advantage.

We get it—the whole process can look intimidating from the outside. That's why we're breaking it all down into simple, actionable steps. We'll show you how to put together an offer that gets noticed, when to push on price, and how to write in conditions that protect you. It's all about moving forward with confidence.

Get Your Finances in Order First

Before you even dream about open houses or scroll through listings of Kelowna homes for sale, there's one step that is absolutely non-negotiable: getting a mortgage pre-approval. In a market where interest rates can be a moving target, this is essential. A pre-approval gives you a rock-solid understanding of what you can afford, so you’re only looking at homes that fit your budget.

But it does more than that. It signals to sellers that you're a serious, qualified buyer ready to make a move. Imagine a seller looking at two similar offers. One is from a buyer who is fully pre-approved, the other isn't. Nine times out of ten, they'll go with the sure thing. It takes the guesswork out of the equation and makes your offer far more powerful.

Mastering the Art of the Offer

Once you've found a home you can see yourself in—whether it's in Kelowna, West Kelowna, or Penticton—it's time to write an offer. In today's more balanced market, you actually have the breathing room to include conditions that work for you.

Here are a few key strategies we always recommend:

• Look at Recent Sales: Your offer needs to be rooted in reality. We'll pull the data on what comparable homes in the neighbourhood have actually sold for recently. This is the single best tool for crafting an offer that's both competitive and fair.

• Include Smart Conditions: Never feel pressured to skip crucial protections like a home inspection or financing approval. These clauses are your safety net. In a less frantic market, sellers are far more willing to accept offers with these reasonable conditions attached.

• Be Flexible on Closing Dates: Sometimes, what a seller needs most isn't the highest price—it's the right timeline. If you can accommodate their moving schedule with a flexible closing date, it can make your offer incredibly appealing, even if another offer is slightly higher.

"A winning offer is the strongest one. That means being fully pre-approved, presenting a clean offer with reasonable conditions, and understanding what truly matters to the seller."

Knowing When and How to Negotiate

Think of negotiation as a conversation, and right now, buyers have a much stronger voice. Homes are taking a bit longer to sell—the average days on market for a single-family home is currently around 55 days. That creates opportunities to talk.

This is especially true for properties that have been on the market for more than a few weeks. A home that's been sitting gives you a bit of leverage. We can help you spot these situations and go into the negotiation with a smart strategy—one that gets you the best possible value while still respecting the seller.

For anyone new to this, the journey can feel especially big. That's exactly why we created a detailed resource to walk you through it, from start to finish. You can get all the details in our complete first-time home buyer guide for Kelowna in 2025.

At the end of the day, buying a home is one of the most significant decisions you'll ever make. Our job is to arm you with the data, expert advice, and unwavering support you need to feel great about your next move. We’re here to be your partner and make sure you land the right home, without all the stress.

How to Win as a Seller in a Balanced Market

Selling your home in Kelowna today isn't like it was a couple of years ago. Gone are the days of sticking a sign on the lawn and watching multiple offers flood in. In a more balanced market, success hinges on a smart, strategic game plan.

This is where we roll up our sleeves and help you maximize your property's value. We're going to walk through the three pillars of a successful sale: nailing the price, creating an irresistible presentation, and launching a powerful marketing campaign. With more homes for sale, buyers have choices. Our job is to make sure your property is the one they just can't forget.

The Critical Role of Strategic Pricing

Let’s get right to it: the most important decision you'll make is setting the price. The biggest mistake a seller can make in the current real estate market Kelowna offers is overpricing their home. It scares away serious buyers from the get-go and almost always leads to price drops later on, which makes your property look stale.

The goal is to hit that sweet spot right from day one. This means taking a deep, honest look at what has actually sold in your specific neighbourhood recently, not just what other homes are listed for. A price backed by hard data grabs immediate attention and brings qualified buyers through your door.

This kind of precision is everything. A home priced correctly builds momentum, often resulting in stronger offers and a much quicker sale. It’s the bedrock of a winning strategy.

Impeccable Presentation Makes All the Difference

Once the price is locked in, the next step is making your home look its absolute best. Put yourself in a buyer’s shoes—they’re trying to imagine their future in your space. Every single detail, from the curb appeal right down to a clutter-free closet, helps them build that crucial emotional connection.

A little bit of effort here goes a very long way. Think about these key actions:

• Declutter and Depersonalize: You want buyers to see the space, not your stuff. Tucking away extra furniture and family photos makes rooms feel bigger and more inviting.

• A Deep Clean: A home that sparkles sends a clear message: "this property has been well-cared-for." Give extra love to kitchens, bathrooms, and windows.

• Tackle Minor Repairs: That leaky faucet or scuffed-up baseboard? Fix it. Small, nagging issues can distract buyers and make them wonder what other problems might be hiding.

A buyer's first impression is everything. In a market with options, a home that is clean, bright, and move-in ready will always have an advantage. It communicates value and care.

Powerful Marketing to Reach the Right Buyers

With your pricing and presentation on point, the final piece of the puzzle is a marketing plan that puts your home in front of the largest possible audience of qualified buyers. Today’s buyers are online, and your home needs a digital presence that stops them in their tracks.

At Vantage West Realty, our marketing campaigns are built to make your property stand out. We bring in professional photographers, create engaging video tours, and use targeted social media ads to tell your home’s story. We create a sense of excitement that draws in serious interest.

For sellers who want even more certainty, we've created unique programs designed to provide total peace of mind. Our Guaranteed Sale and Instant Cash Offers options take the usual "what ifs" out of selling. These programs act as a safety net, giving you the confidence to plan your next move without the stress of wondering when or if your home will sell. It’s all about putting you in control and delivering an outstanding result, even when the market isn't red-hot.

Your Advantage with Vantage West Realty

Let's be honest, navigating the real estate market in Kelowna can feel like you're trying to read a map in a foreign language. It’s easy to get buried in data and lose sight of what really matters. That's where we come in. Our job is to bring clarity and confidence to one of the biggest decisions of your life. We know the worries that keep you up at night when buying or selling, and our entire approach is designed to put you back in control.

I’m AJ Hazzi, and I lead the team here at Vantage West Realty. We’ve built our reputation on straight talk, taking full responsibility for our results, and a genuine commitment to doing things right. You don’t have to take my word for it—over 1,000 clients have shared their five-star experiences with us. For us, this business is about building lasting relationships, not just chasing the next deal.

More Than Just a Transaction

We see the big picture. Whether you’re buying your first downtown condo or selling a sprawling lakefront home in the Mission, our focus is squarely on your goals. We live and breathe this market, from Kelowna and West Kelowna to every corner of the Okanagan, and we know the unique character of each neighbourhood inside and out.

This deep local knowledge gives you a real edge. It translates into:

• Expert Negotiation: We build a strategy. Backed by real-time data, we fight to get you the best possible price and terms, every time.

• Powerful Marketing: In a crowded market, you need to stand out. Our property campaigns are designed to capture attention and attract the right buyers, fast.

• Unwavering Support: From our first chat to the day you get the keys, you'll have a guide, an advocate, and a trusted advisor in your corner. No question is too small, no concern overlooked.

A Partnership You Can Count On

Every real estate decision is a major life event, and you deserve a team that treats it with the weight it deserves. We’re here to cut through the noise and give you clear, honest advice you can build your future on.

"Authenticity is at the core of everything we do. Our clients trust us because we provide honest advice backed by experience, and we are fully accountable for the results we deliver. That's the Vantage West promise." - AJ Hazzi, Founder of Vantage West Realty

This commitment is what truly sets us apart. We’re here to give you a genuine advantage, making sure your next move is your best one yet.

Answering Your Kelowna Market Questions

We talk to clients every day who are trying to get a clear picture of the real estate market Kelowna is offering right now. It makes perfect sense—you're looking at a huge life decision, and you absolutely deserve straightforward answers. Let's dig into some of the most common questions we hear.

Our job is to cut through the noise and give you the confidence to move forward, whether you’re buying, selling, or just testing the waters.

Is It a Good Time to Buy a Home in Kelowna?

This is the big one, and the honest answer is always personal: it really depends on your specific situation.

What we can tell you is that for the first time in years, buyers have more choice and some much-needed breathing room. Inventory levels are up, which means that frantic, must-buy-now pressure has finally eased off.

You actually have time to find a home that genuinely fits your life, not just the only one available. Yes, interest rates are a factor, but having more room to negotiate can help balance the equation. It's a fantastic time to be a buyer who comes to the table prepared.

How Long Is It Taking to Sell a Home in Kelowna?

Homes are sitting on the market a little longer than they did during the peak frenzy, which is actually a sign of a healthier, more balanced market returning. The key metric we watch is "days on market," and it really varies depending on the property type.

For instance, a single-family home is currently taking around 55 days to sell on average. Condos, where there's more inventory to choose from, are seeing a longer average of about 67 days.

It’s critical to remember these are just averages. A home that is priced strategically, staged beautifully, and marketed with a powerful campaign will always beat the average. It all comes down to getting the strategy right from day one.

What’s the Real Difference Between the Kelowna and West Kelowna Markets?

While they're neighbours, Kelowna and West Kelowna have completely different vibes and market dynamics. Think of Kelowna proper, especially areas like downtown and the Lower Mission, as the hub for higher-density living. It’s packed with condos and townhomes, drawing in people who crave that walkable, urban lifestyle. As a result, its market can move faster and face different pricing pressures.

West Kelowna, on the other hand, is all about those incredible lake views, sprawling vineyards, and more spacious single-family homes. It’s a huge draw for families and anyone looking for a slightly quieter community feel. While prices are still strong, you can often get more property for your dollar compared to some of Kelowna's core neighbourhoods. Understanding these hyper-local differences is absolutely essential to finding the right fit for your budget and goals.

If you’re thinking about your next move in the Kelowna area, Vantage West Realty has the expertise and programs to give you a serious advantage. Reach out to us today and let's talk strategy.