Has the Kelowna Real Estate Market Turned the Corner?
If you’ve been wondering whether Kelowna’s housing market is finally picking up again — the short answer is yes, but slowly.
Buyers are back out looking, sellers are adjusting prices, and the wild swings of the pandemic years have calmed down. The market feels more balanced — and more normal.
Let’s break it down.
📊 Are Home Sales in Kelowna Rising in 2025?
Yes.
So far in 2025, there have been about 1,715 total home sales across all property types in Kelowna.
That’s 8% higher than 2024 and 16% above 2023 — solid growth after two slow years.
But context matters. Compared to the 2021 boom, sales are still down nearly 40%.
We’re recovering from the quietest stretch in nearly a decade, not reliving the frenzy of 2021.
10-Year Snapshot of Kelowna Home Sales (YTD)
| Year | Total Sales | % Change vs 2025 |
|---|---|---|
| 2015 | 2,650 | -35% |
| 2016 | 3,250 | -47% |
| 2017 | 3,100 | -45% |
| 2018 | 2,700 | -36% |
| 2019 | 2,450 | -30% |
| 2020 | 2,900 | -41% |
| 2021 | 4,200 | -59% |
| 2022 | 2,050 | -16% |
| 2023 | 1,480 | +16% |
| 2024 | 1,590 | +8% |
| 2025 | 1,715 | — |
So yes — activity is up. But this is a measured recovery, not a new boom.
💰 What’s Happening to Home Prices in Kelowna?
Prices have stabilized, not crashed.
That’s the biggest story of 2025.
Here’s what’s happening by housing type:
| Property Type | Median Price 2025 | Change vs 2024 | Change vs 2021 Peak |
|---|---|---|---|
| Single-Family Homes | $930,000 | +3% | -10% |
| Townhomes | $685,000 | -1% | -8% |
| Condos / Apartments | $440,000 | -2% | -12% |
Single-family homes are holding steady — especially those with suites or great locations.
Townhomes are balancing out as new builds hit the market.
Condos are still soft because of affordability and extra supply.
👉 Bottom line: prices are steady, and that’s a sign of a healthy, sustainable market.
⏳ Do Buyers and Sellers Have More Time Now?
Absolutely.
The average home now takes about 73 days to sell, with a median of 55 days — a big change from the days of weekend bidding wars.
Buyers can take their time, do inspections, and make confident offers.
For sellers, this means strategy matters more than ever:
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Price it right from day one
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Make it show-ready (clean, bright, well-staged)
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Work with an agent who markets both locally and to out-of-town buyers
Selling today is about planning, not just posting.
🌤️ Why Kelowna Is Still in a Strong Position
Even with interest rates high and Canada’s economy slowing, Kelowna stands out because:
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It’s driven by lifestyle, education, and relocation, not heavy industry.
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People are still moving here for the weather, scenery, and community feel.
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The market continues to attract quality, long-term buyers.
It’s not all sunshine — global trade issues and rate cuts still weigh on confidence —
but Kelowna’s fundamentals remain strong.
That’s why many believe the corner has been turned.
📬 Final Takeaway
The 2025 Kelowna housing market feels calmer, smarter, and more stable.
Sales are up, prices are steady, and confidence is rebuilding — but perspective is key.
This isn’t about chasing peaks or worrying about dips.
It’s about understanding where we are in the cycle — and positioning yourself accordingly.
If you’re planning to buy or sell in Kelowna, now is the time to get a clear plan and strategy in place.
The market’s moving again — and those who prepare will move with it.
📞 Questions about your home’s value or next move?
Reach out to Mark & Maddie | Selling Kelowna Real Estate Group, eXp Realty Kelowna
📧 [email protected] | 📱 778-744-0872
