city of kelowna CONDO - FEBRUARY 2 0 2 5
MONTHS OF INVENTORY 8.6 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 10% VS 2024
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2024
▲ 12% VS 2024
▼ 1.0% VS 2024
▼ 0.3% VS 2024
There were 479 condo listings in the City of Kelowna in February, 16% above January and 15% higher than February 2024. February condo sales increased by 6% month-over-month, to 56, and were 12% above February 2024. The months of inventory for condos in the City of Kelowna, at 8.6, reflected a buyers' market. The condo median price in February was $441,000, a 0.2% increase from January and 0.3% below February 2024. The average sold price was $466,575, 9% below last month; the average PSF sale price was $500, up 4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$500 $466,575 $441,000 8.6 56 479
$553 $471,118 $442,450 8.3 50 417
12% 15%
$479 $511,379 $440,000 7.8 53 414
4% -9% 0.2% 10% 6% 16%
-10% -1% -0.3% 3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
570
564
70
601
512
581
463
526
516
479
490
417
414
387
39
38
103
91
88
79
53
49
56
50
75
69
68
65
58
$475K
$458K
$455K
$457K
$450K
$442K
$440K
$440K
$441K
$434K
$432K
$430K
$421K
Feb-24
Jan-25
Feb-25
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
13.5
200
4+ bdrms
11.7
2
150
3
3 bdrms
7.3
6.6
53
100
5.0
40
2 bdrms
50
296
0
13
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 16 105 6.6 30 218 7.3 7 82 11.7 2 27 13.5 0 13 n/a 0 8 n/a 0 21 n/a 1 5 5.0
<2 bdrms
128
Copyright © 2025 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of March 10, 2025. All data from Association of Interior Realtors & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 10 ●
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