Kelowna Real Estate Market 2025: Why Strategy Matters More Than Ever
There’s no doubt the BC real estate market has shifted—and Kelowna is feeling it too. According to BCREA’s Chief Economist, we’re now seeing one of the biggest gaps between buyers and sellers in the past 25 years.
There are over 42,000 homes for sale across British Columbia, yet fewer than 19,000 active buyers. That’s a 24,000-home gap, and it’s shaping what many of us now call a skills market—where strategy and experience matter more than ever.
📉 Applying the Model to Kelowna & the Central Okanagan
Using a model adapted from the US Federal Reserve, I’ve analyzed the Kelowna real estate market and Okanagan region. Here’s what stands out so far:
1. Homes Are Selling Slower
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2025 Sale Rate: ~13%
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2019 Sale Rate: ~17%
2. Buyer Activity Is Down
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Buyers in May 2025: ~2,525
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Buyers in May 2019: ~2,937
➡️ That’s a 14% drop compared to just six years ago.
3. Market Tightness Has Loosened
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2019: ~1 buyer per listing
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2025: ~0.73 buyers per listing
➡️ Listings now outnumber active buyers by a wide margin.
And while this trend is province-wide, Kelowna's higher price points and increased inventory mean we’re feeling the effects a bit more. At the same time, we’re still seeing demand from retirees, families, and out-of-province investors drawn to our lifestyle, lakefront living, and natural beauty.
What Does This Mean for Sellers?
If you're thinking of selling in Kelowna, accurate pricing is critical. Overpriced homes are sitting, while the well-priced, properly staged, and locally marketed listings are selling. You’ll need more than just a sign in the yard—it’s about knowing your micro-market and presenting your home to stand out.
💡 Tip for Builders & Developers: Infill projects and new builds need to be priced competitively and clearly marketed to your ideal buyer—whether it’s a downsizer, investor, or young family.
What About Buyers?
You now have more options and stronger negotiation power. That said, the best homes still move fast. If you see a property that checks 90% of your boxes, it’s worth a serious look. Waiting for “perfect” may cost you the right fit.
🛠 Tip for Infill Buyers: Duplexes, townhomes, and small multifamily builds offer lifestyle flexibility and long-term upside. Now’s a great time to explore these options.
Final Thought: This Is a Skills Market
Whether you’re upsizing, downsizing, investing, or building, success in Kelowna’s 2025 market comes from understanding the bigger picture. Often, sellers are also buyers, and clarity around your goals—paired with sharp pricing—can make all the difference.
Let’s Talk Strategy
No pressure. No sales pitch. Just a clear conversation on where you stand and how to move forward in this market.
📅 Book a strategy session with me today.
📲 Or reply to this email and let’s set up a time that works for you.
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Mark & Maddie
Selling Kelowna Real Estate Group
📱778-744-0872 | 📧 [email protected]
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