Despite lingering concerns, Kelowna’s housing market is not showing signs of a crash in 2025. Instead, the data points toward a slow and steady recovery following the post-2022 correction.
Sales volumes have improved compared to 2024, though activity remains below long-term averages. Prices have largely stabilized. Detached homes are selling near $1.1 million, while condominiums average around $470,000. With more listings available, buyers now enjoy greater negotiating power and less competition.
Falling interest rates are playing a key role in restoring confidence. As borrowing costs ease, affordability improves — especially for buyers who were previously sidelined. Analysts expect transaction volumes to rise modestly, potentially by around 4%, with prices climbing closer to 3%.
Kelowna’s lifestyle appeal continues to underpin demand. The combination of natural surroundings, employment opportunities, and quality of life keeps the region resilient. That said, higher-priced properties remain slower to sell, and economic uncertainty causes some buyers to hesitate.
The current market rewards realism. Buyers have leverage, and sellers must price accurately to succeed. Anyone unsure how timing affects their decision would benefit from local insight.
Anthony Shephard from 2% Realty, a lifelong Okanagan resident, helps buyers and sellers interpret real market conditions — without charging full traditional commission. Visit www.RealEstateShephard.com for current data and guidance.
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