Central Okanagan Real Estate Market Update - April 2025
Posted by Dave Kotler on Friday, May 9th, 2025 at 8:15am.
Welcome to our exploration of the Central Okanagan real estate market! From Kelowna up to Lake Country and down through Peachland, this region is known for its wineries and beautiful outdoor activities. It's no wonder why so many people love to live here. Whether you want to join them or are simply curious, here's a breakdown of the market in April 2025.
We cover everything from median prices to inventory and sales for a range of property types. Primarily, these statistics cover residential properties and condos, but we also explore townhouses, lots, and mobile homes.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Central Okanagan Real Estate Statistics – April 2025
The Central Okanagan real estate market shows positive momentum in April 2025, with strong sales activity and continued price appreciation in most housing categories. Total sales for April reached 446 units, nearly identical to the 447 sales recorded in April 2024, while new listings increased to 1,397, up 7.7% from 1,297 listings in April 2024.
Market Highlights
- The residential market continues to show strength with a 5.72% price increase year-to-date
- Condos are experiencing a slight correction with prices down 3.60% year-to-date
- Inventory is up significantly across all property types (13.92% overall)
- Sales are steady compared to last year, with residential properties showing the strongest growth
- Mortgage rates have decreased compared to last year, improving affordability
- The market appears to be moving toward more balanced conditions
Residential Properties
- Average Price: $1,035,599
- Median Price: $945,000
- Total Sales: 203
- New Listings: 539
- Active Inventory: 1,438
- Average Days to Sell: 51
- Price Ratio: 97.21%
Condominiums
- Average Price: $492,517
- Median Price: $440,000
- Total Sales: 99
- New Listings: 322
- Active Inventory: 894
- Average Days to Sell: 52
- Price Ratio: 97.40%
Townhouses
- Average Price: $691,694
- Median Price: $675,000
- Total Sales: 67
- New Listings: 165
- Active Inventory: 440
- Average Days to Sell: 59
- Price Ratio: 97.73%
Monthly Sales Comparison
| Property Type | Apr 2024 | Apr 2025 | % Change |
|---|---|---|---|
| Residential | 189 | 203 | +7.41% |
| Condo | 110 | 99 | -10.00% |
| Townhouse | 71 | 67 | -5.63% |
| Mobile Home | 19 | 23 | +21.05% |
| Total Market | 447 | 446 | -0.22% |
Monthly Median Price Comparison
| Property Type | Apr 2024 | Apr 2025 | % Change |
|---|---|---|---|
| Residential | $950,000 | $945,000 | -0.53% |
| Condo | $475,000 | $440,000 | -7.37% |
| Townhouse | $677,000 | $675,000 | -0.30% |
| Mobile Home | $205,000 | $270,000 | +31.71% |
Inventory Levels Comparison
| Property Type | Apr 2024 | Apr 2025 | % Change |
|---|---|---|---|
| Residential | 1,376 | 1,438 | +4.51% |
| Condo | 715 | 894 | +25.03% |
| Townhouse | 385 | 440 | +14.28% |
| Mobile Home | 127 | 178 | +40.16% |
| Total Market | 3,706 | 4,222 | +13.92% |
Months of Inventory Comparison
| Property Type | Apr 2024 | Apr 2025 | % Change |
|---|---|---|---|
| Residential | 7.28 | 7.08 | -2.7% |
| Condo | 6.50 | 9.03 | +38.9% |
| Townhouse | 5.42 | 6.57 | +21.2% |
| Mobile Home | 6.68 | 7.74 | +15.9% |
| Total Market | 8.29 | 9.47 | +14.2% |
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Dave Kotler