Michael A. Jones – PREC* | Royal LePage Kelowna

May 2025 Central Okanagan Real Estate Market Stats

The May numbers are in for Central Okanagan real estate—and they show more strength. Sales climbed again, inventory expanded, and buyer activity remained steady. Homes are selling faster and prices continue to hold. A confident tone is returning to the market.

The Central Okanagan includes Peachland, West Kelowna, Kelowna, and Lake Country.

Overall Market Activity

  • Total Sales: 477 (up from 446 in April)
  • Sales Volume: $361.6M (est.)
  • Active Listings: 4,448 (up 5.3% from April)
  • New Listings: 1,369 (slightly down from 1,397)
  • List-to-Sell Ratio: 95.45%
  • Days to Sell (Avg): 64

The market remains active, with higher sales and growing inventory. Homes are still selling close to asking—although list-to-sell ratios dipped slightly. Listings continue to increase, providing buyers with more selection heading into summer.

Property Type Breakdown

Single Family Homes (Excludes Lakefront & Acreage)

  • Sales: 221 (up 17% YoY)
  • Average Price: $1,150,234 (up 8.7% YoY)
  • Median Price: $1,015,000 (up 3.0% YoY)
  • Days to Sell: 52 (up from 51 in April)
  • New Listings: 599 (up 0.9% YoY)

Compared to April, single-family sales rose 8.9% and the average price climbed back over $1.15M. Median price also jumped $70,000 in one month. Days on market ticked up slightly, but this segment remains strong and active.

Condo/Apartments

  • Sales: 98 (down 21% YoY)
  • Average Price: $515,795 (up 6.6% YoY)
  • Median Price: $461,000 (up 2.5% YoY)
  • Days to Sell: 68 (up from 52 in April)
  • New Listings: 304 (down 2.3% YoY)

Condo sales remained stable month-over-month (down just 1 sale), but days on market rose by 16 days. Pricing moved upward both in average and median terms. Inventory slightly decreased from April, helping hold values steady.

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Townhomes

  • Sales: 75 (down 7.4% YoY)
  • Average Price: $698,299 (down 0.2% YoY)
  • Median Price: $685,000 (up 1.5% YoY)
  • Days to Sell: 62 (up from 59 in April)
  • New Listings: 145 (down 19.9% YoY)

Month-over-month, townhome sales rose 11.9% while prices held firm. Median price ticked up slightly and days to sell increased by three. New listings dropped noticeably, suggesting tightening supply in this popular segment.

This report is for informational purposes only. Always consult with a licensed professional before making real estate decisions.

Market Takeaway

May 2025 delivered another month of gains for the Central Okanagan market. Sales volumes grew, prices remained solid, and listings kept pace. Buyers have more choice. Sellers who price smartly are still seeing strong interest.

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