If you’re waiting for the “right time” to make a move in Kelowna real estate, this might be it.Prices are down. Inventory is way up. And whether you’re buying, selling, or just watching from the sidelines, what’s happening in the Kelowna market right now is something we haven’t seen in over ten years.Here’s what you need to know—and why strategy matters more than ever.
Townhomes? Down 11%.
Condos? Down 8%.But here’s the twist: while prices are lower than the peak, they’ve been holding relatively steady since bottoming out in late 2024. This isn’t a freefall—it’s a reset.
Make sure your listing is:
📉 Prices Are Down… But Not Crashing
Kelowna home prices have dropped 12% from the 2022 peak. That’s more than $100,000 off the top.Detached homes? Down 13%.Townhomes? Down 11%.
Condos? Down 8%.But here’s the twist: while prices are lower than the peak, they’ve been holding relatively steady since bottoming out in late 2024. This isn’t a freefall—it’s a reset.
🏘️ Inventory Is the Highest It’s Been in 10+ Years
We’re seeing more homes on the market than we’ve had in over a decade:- Detached Homes: 7 months of inventory (buyer’s market)
- Townhomes: 5.9 months (balanced)
- Condos: Almost 10 months (solid buyer’s market)
🔍 Buyers: Why This Market Works in Your Favor
If you’ve been frustrated by bidding wars or sky-high prices, 2025 is your moment. With more homes to choose from and less pressure to act fast, you can:- Take your time to find the right property
- Negotiate better terms and prices
- Avoid the panic and pressure of past hot markets
🚨 Sellers: Strategy Is Everything Now
This market won’t be kind if you get your pricing or presentation wrong. Only 1 in 8 homes is selling each month, and overpriced or under-marketed listings are getting passed over fast.If you’re selling, don’t rely on 2022 pricing or a DIY approach.Make sure your listing is:
- Priced for today’s buyer
- Professionally marketed (think pro photos, staging, strong online presence)
- Backed by a strategic plan—not just a “for sale” sign
📊 What This All Means for You
- Buyers: The conditions are in your favor. More choice. Less competition. A rare edge.
- Sellers: It's still possible to sell for a strong price—but only if your home stands out and is priced right.
- Watching from the sidelines: Keep an eye on the trend lines, especially inventory and months of supply.