Kelowna Real Estate December 2025 Market Report

Kelowna Real Estate December 2025 – Market Overview.

Welcome to my Kelowna Real Estate December 2025 Market update!

November felt noticeably cooler across Kelowna’s real estate market. Buyers are still looking (mainly locals), but decisions remain very slow and deliberate. What I’m seeing doesn’t seem to be an affordability problem as much as a perception problem around price. Buyers aren’t asking “Can we buy?” anymore; they’re asking “Are we paying too much?”

Add ongoing cross-border tariff tensions, shifting economic headlines, and the rising cost of everyday living, and it’s clear why many buyers are holding back. Historically, increased uncertainty softens buyer confidence — slowing decisions and putting pressure on the sales numbers.

With no immediate end in sight, I expect similar cautious buyer sentiment in the coming months. The result is a market that feels uneven from listing to listing, influenced more by perception and psychology than by underlying fundamentals.

In today’s market, confidence and clear value are key— so Sellers must price wisely, and make sure their property shines, or risk being left behind

Kelowna Real Estate December 2025 latest Market Numbers

Note: The Stats in this post are taken from the Association of Interior Realtors as of December 5th, 2025, and may be subject to a minor change.

Single-Family Homes

Sales

A total of 136 single-family homes were sold in November 2025.
This represents:

A 21.8% decrease from October 2025 (174 sales)
A 10.6% increase compared to November 2024 (123 sales)

Sales volume dipped month-over-month, yet remains stronger than last year, signalling modest demand — just with more caution by buyers.

Median Price

The median price rose to $931,000 in November 2025.

Up 2.1% from October ($912,250)
Down 1% from November 2024, when the median price was $940,000

Prices are holding slightly firmer despite fewer sales, suggesting that quality / well-priced listings are still commanding offers. The small year-over-year dip points to more balance rather than softening.

Inventory

There were 1,213 active listings in November 2025.

Down 14.2% from October
Down 7% from November 2024 (1,304 listings)

Inventory contraction continues, which is to be expected at this time of year, meaning less choice for Buyers.

Days on Market

The average Days on Market increased to 59 days.

Up 34.1% from October
Down 4.8% from November 2024

Homes are taking longer to sell compared to last month, reflecting more cautious buyer behaviour. However, compared to last year, the market is still moving slightly faster overall.

What This Means for Single-Family Buyers and Sellers

Market Direction and Pricing

Sales slowed month-over-month, demonstrating how fragile Buyer confidence is.
Pricing remains under pressure, but I’m not sure how much lower Sellers will be prepared to go.

Inventory Matters

Buyers are facing fewer good choices. We’re still seeing some multiple offers on certain properties.
The hope for Sellers is that they will benefit from less competition, but they must price sharply.

Timing is Slower

Buyers are taking longer to commit. So Sellers need to be very patient!
Sellers should focus on presentation and realistic pricing.

Strategy Snapshot

Buyers: Timing the bottom of the market is almost impossible. Instead, focus on finding a property that meets your needs and represents solid value — waiting for a “perfect” deal often means missing out.
Sellers: Pricing and patience are everything right now!
Investors: Rental returns are subdued at the moment, so it’s crucial to ensure the numbers still make sense. Short-term rental opportunities in Kelowna are expected to return in 2026, providing some upside — but the Federal clampdown on foreign students continues to affect demand near UBCO and Okanagan College.

Condos

Sales

A total of 75 condos sold in November 2025.
This represents:

A 10.7% decrease from October 2025 (84 sales)
A 23.5% decrease compared to November 2024 (98 sales)

Sales activity slowed month-over-month and year-over-year, influenced by Buyer uncertainties.

Median Price

The median condo price was $420,000 in November 2025.

Down 2.2% from October 2025 ($429,500)
Down 8.2% from November 2024 ($457,450)

Prices have continued to soften, reflecting higher inventory, the impact of no short-term rentals over the last 2 years & buyers’ more cautious approach in the current market.

Inventory

There were 756 active condo listings in November 2025.

Down 6.2% from October 2025 (806 units)
Up 9.9% from November 2024 (688 units)

Inventory is slightly lower than last month, as some Buyers took their properties off the market for Winter, but higher than this time last year.

Days on Market

Condos spent an average of 58 days on the market in November 2025.

Up 7.4% from October 2025 (54 days)
Up 48.7% from November 2024 (39 days)

Condos are taking longer to sell, suggesting buyers are being more deliberate and selective in their decisions.

What This Means for Condo Buyers and Sellers

Market Direction & Pricing

The condo market continues to be influenced by higher inventory, giving buyers more choice and applying continued downward pressure on prices.
There’s some hope on the horizon for some Condos that previously allowed short-term rentals, as short-term rentals are expected to return on a limited scale, in Kelowna, next year, which should support some increase in demand.
Continued reductions in foreign students are still affecting rental rates near UBCO and Okanagan College. There are some motivated Sellers in those areas, so there are definitely some deals to be had.
The Condo market is likely to remain subdued, with continuing downward pricing pressure, if higher inventory levels persist.

Timing

Market activity is likely to remain slower through the winter months, with general buyer uncertainty and plenty of options leading to longer decision-making timelines. It’s a good time to shop for a deal!

Strategy Snapshot

Buyers: Don’t be afraid to make an offer — you never know if it will be accepted unless you try!
Sellers: Pricing and presentation remain key; a well-positioned condo will attract the right buyer.
Investors: Keep an eye on rental returns and inventory; short-term rental opportunities may improve in 2026, but restrictions on foreign students continue to affect demand near UBCO and Okanagan College.

Town Homes

Sales

A total of 37 townhomes sold in November 2025.

Down 32.7% from October 2025 (55 sales)
Down 7.5% from November 2024 (40 sales)

Sales have taken a sharper hit than expected for this segment, which has historically been the go-to for first-time and value-conscious local buyers.

Median Price

The median townhome price was $655,000 in November 2025.

Up 1.6% from October 2025 ($645,000)
Up 2.4% from November 2024 ($639,950)

Prices remain relatively stable, showing that while sales are slower, values are holding — reflecting demand for well-priced townhomes.

Inventory

There were 399 active townhome listings in November 2025.

Down 8.1% from October 2025 (434 units)
Up 2% from November 2024 (391 units)

Inventory is modestly higher than last year, but fewer listings than in October signal that sellers may be holding back during this quieter winter period.

Days on Market

Townhomes spent an average of 63 days on the market in November 2025.

Up 53.7% from October 2025 (41 days)
Up 18.9% from November 2024 (53 days)

Longer market times indicate buyers are carefully weighing options, even in the traditionally “affordable” townhome segment.

What This Means for Townhome Buyers and Sellers

Market Direction & Pricing

Townhome sales have slowed more than expected, despite affordability compared to single-family homes and condos.
Prices are holding steady, suggesting that well-priced townhomes continue to attract interest even in a slower market.
Inventory remains modest, so supply pressure is less severe than in condos but still influences buyer decisions.

Timing

With slower winter activity, buyers are having more time to consider their options.
Longer days on market indicate cautious buyer behaviour, as many are weighing price, condition, and future value carefully.

Strategy Snapshot

Buyers: Don’t wait too long — townhomes are still a strong entry point for local buyers. If you see value, make an offer!
Sellers: Patience and pricing remain critical. Townhomes that are well-priced and presented will attract attention even in a slower market, but for rentals that have Tenants in place, demand remains soft.
Investors: Townhomes remain attractive for long-term tenants, but lower rents suggest careful evaluation is needed before purchasing.

Kelowna Real Estate December 2025: This month’s photo:

A beautiful Fall walk in Waterfront Park – November 2025.