Who’s Buying, What They’re Buying & Why It Matters in Kelowna Real Estate (2025)
Buyers, Sellers, and Builders: Know the Numbers to Win in Today’s Market
If you're asking, “Who’s actually buying homes in Kelowna in 2025?”—you’re not alone. Whether you’re selling a townhome, buying your first condo, or planning an infill multifamily build, understanding buyer behavior is the key to making smart, confident moves.
Let’s break down the who, what, where, and how of the Kelowna real estate market in 2025, with insights for:
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🏡 Home Sellers
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🛒 First-time Buyers & Move-Up Buyers
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🏗️ Developers & Infill Builders
WHO is Buying?
Top Buyer Segments in 2025:
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27% First-time buyers
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19% Move-up buyers
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19% Lateral movers
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13% Downsizers
✅ Takeaway for Sellers:
Properties under $800K, especially townhomes and apartments, are the hottest tickets. Price sharp and stage well—these buyers are motivated.
WHERE Are They Coming From?
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71% Local Okanagan buyers (up from 49% during the 2021–2022 boom)
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12% Lower Mainland
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5% Alberta
✅ Takeaway for Developers & Sellers:
Local demand is driving sales. Market your listings and projects with Kelowna-specific messaging—don’t rely solely on out-of-town interest.
WHAT Are They Buying?
| Property Type | # Sold | % of Market | Median Price |
|---|---|---|---|
| Single Family (Detached) | 680 | 44.6% | $981,500 |
| Apartment | 370 | 24.2% | $433,500 |
| Townhouse | 240 | 15.7% | $696,500 |
| Manufactured Home in Park | 73 | 4.8% | $238,000 |
| Half Duplex | 38 | 2.5% | $775,500 |
| Detached w/ Acreage | 20 | 1.3% | $1,350,000 |
✅ Takeaway for Buyers & Builders:
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Detached homes under $1M remain strong.
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Townhomes between $600K–$700K offer the best mix of value and space.
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Developers: target the missing middle—townhomes and duplexes where demand is rising.
HOW Are They Paying?
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61% Conventional mortgage
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16% High-ratio mortgage
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23% Cash buyers
✅ Takeaway for Sellers:
Most buyers are well-qualified, and nearly 1 in 4 are cash—clean deals and fast closings are very possible when priced right.
Neighbourhoods With the Most Sales (2025 YTD)
| Neighbourhood | # of Sales | % of Total Sales |
|---|---|---|
| Lower Mission | 152 | 10.27% |
| Kelowna North | 136 | 9.19% |
| Westbank Centre | 109 | 7.36% |
| Rutland North | 90 | 6.08% |
| Springfield/Spall | 83 | 5.61% |
| … |
✅ Tip for Infill Builders:
Neighbourhoods like Lower Mission, Rutland, Glenmore, and Westbank Centre are seeing strong volume—ideal for new multifamily or townhouse builds.
One Trend Worth Watching
🏠 More sellers are cashing out and leaving the Okanagan—without rebuying. This shift is freeing up inventory but also changing the dynamics for long-term housing supply and demand.
🎯 Final Takeaway
If you're selling under $900K, your buyer is likely:
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Local
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Well-financed
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Ready to move quickly
📞 Ready to Sell Smart or Buy Strategically?
Whether you’re pricing your home, building a multifamily project, or buying your first home in Kelowna—let’s talk.
👉 Get a no-pressure home value review or development consultation
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👉 Follow us on Instagram: @sellingkelownabc
Mark and Maddie Coons
Selling Kelowna Real Estate Group
Tel: 778-744-0872
