The Kelowna real estate market has shown notable shifts in January 2025, with inventory rising year over year by 21.2%, signaling a more dynamic market for both buyers and sellers. While active listings are increasing, buyer demand is also picking up, which is a sign of returning confidence in the market. If you're looking to buy or sell real estate in Kelowna, this is an important period to navigate carefully, as the local market experiences significant changes.
Kelowna Real Estate Inventory and Market Trends in January 2025
The rise in Kelowna's housing inventory offers more options for prospective buyers, but it's essential to note that the median list price of $834,000 is higher than the median sale price of $731,000, indicating that some properties may be overpriced. Sellers in Kelowna should be mindful of pricing their homes accurately to avoid extended listings. Homes priced correctly are still selling, with January sales totaling 252, aligning with the 10-year median, signaling renewed buyer confidence.
For buyers in Kelowna, the increased inventory provides more choices, and with declining interest rates, the cost of homeownership is becoming more affordable. However, with inventory peaking in May, the next few months present a critical opportunity for buyers to capitalize on favorable conditions.
Total Sales
Sales: 252
New Listings: 976
Current Inventory: 2,858
Median Days to Sell: 74
Average Days to Sell: 84
Months of Inventory: 11
Median Sale Price: $731,250
Average Sale Price: $832,312
Total Volume: $208,077,953
Single Family Sales
Sales: 120
New Listings: 423
Current Inventory: 1,218
Median Days to Sell: 77
Average Days to Sell: 81
Months Inventory:10
Median Sale Price: $964,900
Average Sale Price: $1,067,583
Total Volume: $127,042,423
CLICK HERE FOR SINGLE FAMILY SALES
Townhome Sales
Sales: 38
New Listings: 153
Current Inventory: 345
Median Days to Sell:76
Average Days to Sell: 85
Months of Inventory: 9
Median Sale Price: $692,500
Average Sale Price: $763,208
Total Volume: $29,001,900
Apartment Sales
Sales:63
New Listings: 236
Current Inventory: 636
Median Days to Sell: 59
Average Days to Sell: 77
Months of Inventory: 10
Median Sale Price: $441,250
Average Sale Price: $4568,633
Total Volume: $29,523,850
CLICK HERE FOR APARTMENT SALES
Kelowna Real Estate Forecast for 2025: What Buyers, Sellers, and Developers Can Expect
Kelowna’s housing market forecast predicts a 4-5% price growth in 2025, according to BMO, CREA, and BCREA. This price increase is expected to be steady, particularly in single-family homes, where the average sale price currently stands at $1,067,000. However, looming trade tensions and potential tariffs could have an impact, with delays extending until March 2025. Economic stability in the coming months is crucial for the forecast to hold true, especially for sellers and developers in Kelowna.
For developers and home builders, including those involved in infill multifamily builds, the expected inventory peak in May presents a strong opportunity to adjust pricing, target new buyers, and align with market demand. The rising inventory combined with increasing buyer confidence could make it an excellent time to plan and execute new real estate projects in Kelowna.
Why Now Is a Key Time for Buyers and Sellers in Kelowna
If you are considering buying or selling in the Kelowna real estate market in 2025, now is the time to seek personalized advice. With a potential 4-5% price growth forecasted and increased inventory, there are opportunities for both buyers and sellers to make strategic moves. However, the looming trade issues and the upcoming peak in inventory add complexity to the market, making expert guidance essential to navigate these uncertain times.
Conclusion: Strategic Considerations for Buyers, Sellers, and Developers
- Buyers: Rising inventory and declining interest rates provide more affordable options. The key is finding properties that are priced correctly for a competitive edge in the market.
- Sellers: Proper pricing is essential to secure a sale in a market where many listings are overpriced. With an increase in demand and an expected inventory peak, it’s vital to make your listing stand out.
- Developers & Home Builders: If you are involved in infill multifamily builds or other projects in Kelowna, the anticipated price growth and increased buyer activity mean it's a prime time to adjust your plans and consider future opportunities, especially before May’s inventory surge.
Kelowna’s real estate market trends in 2025 provide ample opportunities for savvy buyers, sellers, and developers. It’s a critical time to stay informed, price properties right, and act strategically for long-term success.
Mark and Maddie Coons
Selling Kelowna Real Estate Group
Tel: 778-744-0872
