Kelowna Real Estate Market June 2025 News Prices and Trends

Kelowna Real Estate Market June 2025

Welcome to my Kelowna Real Estate Market June 2025 Report.

In this post, we’ll look through last month’s numbers & factors currently affecting Kelowna Buyers and Sellers.

Kelowna Real Estate June 2025 Stats Report

*NOTE: These numbers were reviewed on June 2, 2025, using Association of Interior Stats and may be subject to minor changes, should further sales be reported for May 2025.

Kelowna Real Estate May 2025 Single Family Home Stats

Kelowna Real Estate May 2025 Condo Stats

Kelowna Real Estate May 2025 Town Home Stats

Single-Family Homes May 2025

Home Sales

May 2025: 226 homes sold.
Month-over-Month: Up 9.2% from 207 in April 2025.
Year-over-Year: Up 17.7% from 192 in May 2024.

Median Price

May 2025: $1,012,000.
Month-over-Month: Up 5.7% from $957,500 in April 2025.
Year-over-Year: Up 2.0% from $992,500 in May 2024.

Inventory

May 2025: 1,637 listings.
Month-over-Month: Up 4.9% from 1,560 in April 2025.
Year-over-Year: Up 1.7% from 1,609 in May 2024.

Median Days on Market

May 2025: 36 days.
Month-over-Month: Up 5.9% from 34 days in April 2025.
Year-over-Year: Down 2.7%% from 37 days in May 2024.

Single-Family Home Takeaways:

Steady Increase in Sales Activity
While activity has picked up, it’s more of a gradual improvement than a dramatic shift, which is normal for this time of year.
Modest Price Growth
This is likely due to some higher-priced homes selling rather than upward price pressure.
Inventory Trending Upward
Inventory numbers remain at a 10-year high.
Days on Market Remains Balanced
Properties are still moving.

Note: The numbers in this post relate to single-family homes only.

Condos May 2025

Condo Sales:

May 2025: 98 Condos Sold
Month-over-Month: Down 0.01% from 99 in April 2025.
Year-over-Year: Down 21% from 124 in May 2024.

Median Price:

May 2025: $461,000.
Month-over-Month: Up 4.8% from $440,000 in April 2025.
Year-over-Year: Up 2.6% from $449,500 in May 2024.

Inventory:

May 2025: 952 Listings
Month-over-Month: Up 5.2% from 905 in April 2025.
Year-over-Year: Up 23% from 774 in May 2024.

Median Days on Market:

May 2025: 51 Days
Month-over-Month: Up 27.5% from 40 days in April 2025.
Year-over-Year: Up 18.6% 43 days in May 2024.

Condo Takeaways:

Sales Holding Steady, but Well Below Last Year
Indicates that while current activity has stabilised, we’re still seeing more cautious buyers compared to last spring.
Prices Edge Up Despite Softer Sales
Interesting to see prices up slightly despite higher inventory.
Inventory Continues to Build
Condo supply remains high, giving buyers more options and possibly more negotiating power. This is especially so for ‘investor-oriented’ buildings.
Longer Time to Sell
This is a key signal that while buyers are active, they’re taking more time—and in some cases, possibly waiting for price adjustments or more attractive financing conditions.

Townhomes May 2025

Townhome Sales:

May 2025: 75 Townhomes Sold.
Month-over-Month: Up 11.9% from 67 in April 2025.
Year-over-Year: Down 7.4% from 81 in May 2024.

Median Price:

May 2025: $685,000.
Month-over-Month: Up 1.5% from $675,000 in April 2025.
Year-over-Year: Up 1.5% from $675,000 in May 2024.

Inventory:

May 2025: 445 Listings.
Month-over-Month: Down 0.1% from 450 in April 2025.
Year-over-Year: Up 5.7% from 421 in May 2024.

Median Days on Market:

May 2025: 50 Days
Month-over-Month: Up 8.7% from 46 days in April 2025.
Year-over-Year: Up 47.1% from 34 days in May 2024.

Townhome Takeaways:

Sales activity picked up over April, but remains below last year’s levels, suggesting the market is gaining some monthly momentum, though still quieter than in previous spring seasons.
Prices have stayed relatively stable, with only modest year-over-year and month-over-month increases. This hints at a balanced segment where buyer and seller expectations are closely aligned.
Inventory levels are mostly flat month-over-month, offering a sense of stability. However, the slight year-over-year increase suggests more selection than buyers had this time last year.
Homes are taking longer to sell, with days on market climbing sharply from a year ago. This points to more cautious buyer behaviour and the importance of standing out through competitive pricing and presentation.

Kelowna Real Estate Market June 2025: Policy and Taxation Updates Impacting Buyers

GST Rebate for First-Time Buyers

Effective May 27, 2025, the federal government introduced a 100% GST rebate on newly built homes priced up to $1 million for first-time buyers. Homes priced between $1 million and $1.5 million are eligible for a partial rebate. This initiative is particularly beneficial for those considering new constructions in areas like Westbank Centre, The Ponds, or North Glenmore.

Property Transfer Tax (PTT) – Administrative Updates

While PTT rates remain unchanged, new administrative requirements have been implemented:

Enhanced Documentation: Buyers with temporary Social Insurance Numbers (SINs) must provide additional documentation.
Ownership Structures: Transactions involving trusts, co-ownerships, or purchases on reserve lands now require more detailed reporting.

In areas like UBCO and Quail Ridge, where families often co-purchase condos for students, these updates mean additional paperwork, especially if a temporary SIN, trust structure, or non-resident ownership is involved.

Bank of Canada Interest Rate Outlook – June 2025

The Bank of Canada’s upcoming interest rate decision, on June 4, 2025, is under scrutiny, and rates could swing either way. Currently, the benchmark rate stands at 2.75%.

The following analyses suggest that the Bank of Canada may opt to hold its interest rate steady in June to address persistent inflation while monitoring economic conditions.

Economic Indicators

- Persistent Inflation: Core inflation in Canada rose to 3.15% in April, exceeding the Bank’s 2% target, indicating ongoing inflationary pressures.
- Economic Growth Concerns: RBC Capital Markets economists highlight that Canada’s economy faces challenges, including weak productivity and rising labour costs, which could influence the Bank’s decision-making. MarketWatch+3MarketWatch+3rbccm.com+3
- Market Expectations: Analysts at Scotiabank note that elevated core inflation has reduced expectations for a rate cut at the Bank of Canada’s June meeting, with the benchmark interest rate likely to remain at 2.75%. Reuters

Kelowna Real Estate Market June 2025 Implications for Buyers and Sellers

For Buyers

More choice, more leverage: Inventory remains higher, giving buyers more room to negotiate and compare properties.
Still have a home to sell? You’re not alone: Many buyers are in the same position, causing some hesitation in the market. Subject-to-sale offers are back. In a more balanced market, these are becoming more common and may be acceptable to sellers.
Why securing your purchase price makes sense: By making an offer now, subject to sale, this locks in your buying price. If your current home doesn’t sell quickly, you’ll have the option to reduce your list price to attract buyers with less stress.
Watch for shifting mortgage rates: Any future rate cuts could improve affordability later this year, but buyers who act early may benefit from current price stability.

For Sellers

Rising inventory means more competition: Careful pricing and strong marketing are essential to stand out. This includes Professional Photos and Virtual tours. Remember, Buyers are looking online, long before they view the property!
Flexibility can be an advantage: Being open to subject-to-sale offers can expand your buyer pool in this climate.
First impressions matter:
- In a competitive market, presentation is everything.
- I’ve seen buyers instantly turned off by poor or outdated paintwork, unfinished repairs, cluttered interiors, or an unkept garden.
- A little effort upfront—cleaning, staging, and minor fixes—can significantly improve your home’s appeal and perceived value.
Highlight your home’s unique features: Make sure buyers understand what makes your property special, whether it’s the view, location, layout, or lifestyle.

📞 Let’s Chat

Ready to take the next step?
Call or text Trish at 250-864-1707
Contact Trish Cenci PREC* by email: here.

Let’s make your next move the best move!

This month’s Photo: Downtown Kelowna Views Spring 2025.

Kelowna Real Estate Market June 2025 News Prices and Trends