Kelowna Real Estate Market Update – May 2025
Central Okanagan Housing Trends and Statistics
Looking for the latest updates on the Kelowna housing market? This May 2025 market report highlights key real estate trends in the Central Okanagan, including changes in home sales, average prices, inventory levels, and days on market for single-family homes, townhomes, and condos.
Kelowna Single-Family Home Market – May 2025
- Sales: Sales of single-family homes jumped 19% year-over-year, with 221 homes sold in May 2025—up from 186 in May 2024.
- New Listings: Listings rose slightly by 0.17%, reaching 599 new homes listed in May 2025.
- Average Price: The average price for a detached home increased 9% to $1,150,234, compared to $1,057,549 in May 2024.
- Days on Market: Homes took longer to sell, averaging 52 days on the market—an 11% increase from 47 days last year.
Kelowna Townhome Market – May 2025
- Sales: Townhome sales declined 7%, with 75 units sold in May 2025 versus 81 in May 2024.
- New Listings: Inventory dropped significantly, down 23% year-over-year to 145 new listings.
- Average Price: Prices dipped slightly by 0.2%, with the average townhome selling for $698,299 (down from $700,205).
- Days on Market: Townhomes took 35% longer to sell, averaging 62 days on market compared to 46 days a year ago.
Kelowna Condo Market – May 2025
- Sales: Condo sales fell 21% year-over-year, with 98 units sold—down from 124 in May 2024.
- New Listings: The number of new condo listings decreased by 3%, totaling 304 for the month.
- Average Price: The average condo price climbed 6% to $515,795, up from $484,660 last May.
- Days on Market: Condos spent more time on the market—averaging 68 days, a 33% increase from 51 days in May 2024.
Thinking of Buying or Selling in Kelowna?
Whether you're planning to buy your first home or sell your current property, get expert advice tailored to the Kelowna real estate market. Contact Jeff Creamer at Royal LePage Kelowna for professional support backed by local market expertise.
- Call: 250-575-7112
- Email: jeff@shopkelownahomes.com
View April 2025 Central Okanagan / Kelowna Real Estate Market Statistics
Source: Association of Interior Realtors