Looking at year-over-year trends provides useful perspective on Kelowna’s housing market. In 2025, prices across most property types show modest gains after earlier declines.
Single-family homes posted an increase of approximately 5%, with average values around $1.12 million. Condominiums rose by about 3%, landing near $470,000, while townhomes experienced more volatility, declining roughly 7% year over year to the low $640,000s.
When all property types are combined, the average sale price sits close to $868,000, reflecting an overall increase of just over 5%. Detached homes remain below their 2022 peak, down roughly 7%, while townhomes are still nearly 18% off their highs.
Quarterly data shows some divergence. In Q2 2025, median detached prices climbed to roughly $1.21 million, while condo medians increased close to 10%, suggesting renewed momentum in more affordable segments.
Higher borrowing costs slowed activity in recent years, but improving rate conditions are now supporting gradual recovery. Prices are no longer surging, but they are holding steady — a sign of market stabilization rather than decline.
For neighbourhood-specific insights, Anthony Shephard of 2% Realty offers detailed year-over-year analysis and charges only 2% commission when selling. More information is available at www.RealEstateShephard.com
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