Kelowna February 2025 Real Estate Market Stats
February saw a noticeable uptick in activity, with 947 new listings hitting the market, bringing total active inventory to 3,136—up from 2,864 last month and 2,601 this time last year. Buyers now have more choices than they have had in a long time. However, sales also picked up, with 285 homes sold, increasing from 252 in January and 251 in February 2024, marking a 13% year-over-year increase. It seems that buyer interest is strengthening heading into 2025.
Kelowna Housing Market Trends – February 2025
Single-family home prices have surged, now averaging $1.19 million—a $150,000 increase from last year. It appears that the higher-priced homes are seeing more movement. With Kelowna’s population growing by 4.3% last year, demand for homes remains strong.
Despite changing mortgage rules and rising tariffs, the luxury market is gaining traction, with 25 homes over $1.8 million sold so far in 2025. Townhomes are averaging $752,000, with inventory dropping to 8 months. Single-family homes sit at 11 months of inventory, while apartments remain steady at 9 months. Although most segments are technically still a buyer’s market, homes priced correctly are selling quickly.
Overall, momentum is building, and we’re seeing more consumer confidence in Kelowna’s real estate market as we head into the spring season.
Kelowna Real Estate Market Data – February 2025
Total Market Stats
- Total Sales: 285
- New Listings: 947
- Current Inventory: 3,136
- Median Days to Sell: 49
- Average Days to Sell: 73
- Months of Inventory: 11
- Median Sale Price: $738,000
- Average Sale Price: $884,610
- Total Volume: $252,113,965
Single-Family Home Sales
- Sales: 125
- New Listings: 442
- Current Inventory: 1,355
- Median Days to Sell: 49
- Average Days to Sell: 74
- Months of Inventory: 11
- Median Sale Price: $1,050,000
- Average Sale Price: $1,190,893
- Total Volume: $148,861,652
Townhome Sales
- Sales: 47
- New Listings: 152
- Current Inventory: 397
- Median Days to Sell: 35
- Average Days to Sell: 51
- Months of Inventory: 8
- Median Sale Price: $702,000
- Average Sale Price: $752,338
- Total Volume: $35,359,885
Apartment Sales
- Sales: 78
- New Listings: 240
- Current Inventory: 715
- Median Days to Sell: 46
- Average Days to Sell: 71
- Months of Inventory: 9
- Median Sale Price: $440,000
- Average Sale Price: $506,243
- Total Volume: $39,486,928
Kelowna Real Estate Market Insights for Sellers & Buyers
For Sellers:
- More listings mean increased competition, making pricing strategy crucial.
- Homes in the right price range are selling quickly despite high inventory levels.
- Luxury properties are in demand, with a strong uptick in high-end home sales.
- Proper staging and marketing can make a difference in selling faster.
For Buyers:
- More inventory means more choices, but competition is heating up.
- The market is shifting, and well-priced properties are selling quickly.
- Mortgage rate changes could impact affordability, making early pre-approval key.
For Developers & Home Builders:
- Kelowna’s population growth (4.3%) continues to drive housing demand.
- Multifamily developments are a viable investment, with steady apartment and townhome sales.
- Market confidence is growing, suggesting strong opportunities in the coming months.
Reach out if you have any questions on how your properties compare or if you have any questions on the market..
Mark and Maddie Coons
Selling Kelowna Real Estate Group
Tel: 778-744-0872
