Kelowna Real Estate Market Update: Q1 2025
What Sellers, Buyers & Builders Need to Know Now
With the 2025 Canadian federal election now behind us, the dust is settling—and with it, we’re seeing early signs of confidence returning to the Kelowna real estate market.
🏡 Sales in Q1 are up 18% year-over-year, which is encouraging. But let’s keep things in perspective—last year was sluggish, so we’re still tracking below the 10-year average for spring activity. (See: Q1 Okanagan Market Overview).
The big question now: What does this all mean if you're planning to buy, sell, or build in Kelowna this year?
📈 What’s Happening in the Market?
We’re seeing a tug-of-war dynamic between more listings and more buyer interest:
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Inventory is up 8.2% compared to Q1 2024
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Sales are also up 18.1%—meaning competition is heating up
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The sales-to-new-listings ratio shows we’re still in a balanced market (not buyer or seller dominated)
But here’s the catch...
💡 Buyers aren’t overpaying anymore. After the aggressive markets of 2021–2022, they’ve drawn a line. If a home is priced too high, it sits—and expires.
A record number of listings didn’t sell in Q1. The overpriced ones? They’re simply not moving.
🔑 What This Means for Sellers in Kelowna
If you’re a homeowner thinking about selling in Kelowna, West Kelowna, Lake Country, or Peachland, here’s the takeaway:
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Pricing matters more than ever
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Buyers are active, but they won’t chase unrealistic prices
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You only get one chance to make a first impression—price it right from day one
Want help pricing it right? Let’s connect.
🧱 For Developers and Infill Builders in Kelowna
If you’re building or planning infill multifamily housing in the Okanagan, here’s what this Q1 data tells us:
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Products under $900K are seeing the most movement
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Buyers are focused on walkability, efficiency, and long-term value
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Overpriced units, even new builds, are being ignored by well-informed buyers
📊 Need help analyzing which product types are seeing the best ROI in your target neighborhood? We do that.
🤔 Buyers: Here’s the Smart Move in 2025
In this kind of balanced market, the best homes still go fast. If you’re waiting for prices to fall, you might miss out.
Ask yourself:
❓ Does this home check 90% of your boxes?
❓ Is it priced within fair market value?
❓ Are you planning to stay for 5+ years?
If the answer is yes, it’s worth moving forward. Timing the market perfectly is nearly impossible—but time in the market is where real value builds.
💬 Final Thought: Be Ready. Be Strategic. Be Informed.
Whether you’re thinking about selling your home, buying a new one, or launching a development, this isn’t the time to guess. It’s the time to be smart.
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Or DM me on Instagram at @sellingkelownabc and let’s chat about your real estate goals in 2025.
Mark and Maddie Coons
Selling Kelowna Real Estate Group
Tel: 778-744-0872
