AUGUST 2025 – STEADY SALES & RISING INVENTORY
Last month, the Kelowna housing market offered buyer-friendly conditions amid stable sales. Comparing the numbers from July 2025 with July 2024, we saw similar trends in sales and listing inventory across most property types. Below, we break down how pricing, sales, and inventory were affected in each major category throughout the month!
Last month residential property sales numbers came in 6% higher than July of last year, while our total listing inventory increased by 4% to 3,507 listings in total. Currently, the overall average price (all residential property categories combined) is sitting nearly 5% below the average during the same time last year, landing at $810,621.
The table below shows the breakdown on where the 440 total monthly sales came from, and shows the total inventory levels for each property category.
On average, it is taking around 59 days to sell a home, depending on the property type.
SINGLE FAMILY HOME MARKET UPDATE
In the Single Family Home bracket we saw a sales increase of 8% coupled with a decrease of 4% in inventory over July of last year.
The average price for the month again came in above the Million Dollar mark, and is currently sitting about 2% above last July’s average price.
TOWNHOUSE MARKET UPDATE
The townhouse market has seen an 3% decrease in sales compared to July of last year. With a 3% decrease in inventory to match, townhomes still are only making up 12% of all available listings. The average sale price finished at $705,256 – a decrease of 3% below the average during the same month last year.
CONDO MARKET UPDATE
The condo market has seen a decrease in sales compared to this time last year. We also have continued to see significant increases in inventory in the condo sector this year over last. Sales decreased by nearly 2% while the inventory increased by 24%!
SUPPLY & DEMAND
The months of inventory levels are our best way to determine the strength or weakness of the market…and to recap our benchmarks:
Less than 4 Months of Inventory is a Seller’s Market
4 to 6 Months of Inventory is a Balanced Market
More than 6 Months of Inventory is a Buyer’s Market
We’ve been tracking the Months of Inventory – the graph below outlines how the seventh month of 2025 went compared to the same time periods in the previous 3 years. In July of 2024 there were 8.1 months of inventory, this July we were sitting nearly on par with 8 months of inventory. This means we are continuing to work in a buyers market at this time.
What does all this mean? Is now the time to make a move? I would love to discuss what may be right for you – Please feel free to reach out any time!
