Kelowna Real Estate Market Update – November 2025
Kelowna’s real estate market is moving into the normal winter slowdown. Days are shorter, the snow has arrived, and both buyers and sellers are taking a breath before the new year. Inventory dropped 9.6% from last month, and we expect December to keep trending the same way.
Even with slower activity, prices have held steady. Single-family homes saw a 0.5% increase in the median price month-over-month. Prices are slightly higher than 2022, and down just 2% from 2021 and 2023. Townhome prices stayed firm. Apartment prices dipped, but this is normal for winter and for a market with lots of inventory.
Across the Kelowna real estate market—single-family homes, townhomes, condos, luxury homes, and infill development sites—the same pattern is showing up:
➡️ More days on market
➡️ Fewer new listings
➡️ Steady prices in most segments
➡️ More motivated sellers
This creates real opportunities for buyers, and a planning window for sellers, developers, and builders heading into 2026.
Total Kelowna Market — All Property Types
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Sales: 289 ↓
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New Listings: 602 ↓
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Inventory: 3,172 ↓
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Median Days to Sell: 59 ↑
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Average Days to Sell: 75 ↑
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Months of Inventory: 11 ↑
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Median Price: $730,000 ↓
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Average Price: $847,005 ↓
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Total Volume: $244,784,381 ↓
This shows a classic buyer-leaning market, especially for condos and homes that need updates.
Single-Family Homes in Kelowna
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Sales: 141 ↓
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New Listings: 259 ↓
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Inventory: 1,349 ↓
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Median Days to Sell: 58 ↑
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Months of Inventory: 10 ↑
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Median Price: $935,000 ↑
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Average Price: $1,154,698 ↓
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Total Volume: $162,812,481 ↓
Why it matters:
Single-family homes continue to hold strong. Demand for detached homes in Kelowna, West Kelowna, and Lake Country stays high, especially for homes with suites or land that could support infill construction under Bill 44.
Opportunity:
Builders can find value in older homes on large lots—perfect for duplex, triplex, and fourplex potential.
Townhomes
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Sales: 37 ↓
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Inventory: 403 ↓
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Months of Inventory: 11 ↑
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Median Price: $655,000 ↑
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Average Price: $707,022 ↑
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Total Volume: $26,085,800 ↓
Townhomes remain solid thanks to downsizers and first-time buyers who want more space than a condo but better affordability than a detached home.
Apartments / Condos
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Sales: 75 ↓
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Inventory: 756 ↓
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Months of Inventory: 10 ➖
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Median Price: $420,000 ↓
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Average Price: $479,439 ↑
Condos are the most competitive segment. Many sellers must price sharply to attract buyers.
Great opportunities for first-time buyers and investors who want better monthly affordability.
Developers & Infill Builders – Key Insights
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Lower inventory heading into winter means more sellers are open to development-friendly terms.
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Land value remains strong, but fewer bids in winter give developers a chance to negotiate.
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Bill 44 is still shaping the market. Large lots, corner lots, and older homes carry extra value due to infill potential.
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Multifamily builders will see more openings in 2026 as interest rates settle and more homeowners consider selling.
If you’re a builder or developer planning a 2026 infill or small-scale multifamily project, winter is the best time to secure sites before competition spikes in spring.
What This Means for 2026
Simple, clear takeaways:
For Buyers:
Less competition + motivated sellers = better deals now.
Waiting until spring means more buyers and higher prices.
For Sellers:
Use December and January to prep.
Homes listed early in the new year often get stronger attention because spring competition hasn’t hit yet.
For Developers & Builders:
This is prime time to secure Kelowna development land, infill sites, and older single-family homes with rezoning potential.
Ready to Buy or Sell in 2026? Start Now.
The smartest move is to prepare early instead of reacting later.
A clear plan always beats guessing the market.
Message me today and I’ll help you build a strategy for a strong start to 2026.
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Mark and Maddie Coons
Selling Kelowna Real Estate Group
Tel: 778-744-0872
