Royal LePage Kelowna Real Estate Report for August 2025
As we move into August 2025, both the Central and North Okanagan markets are no longer skewed toward buyers or sellers. With the right strategy, both buyers and sellers can capitalize on these conditions.
In June 2025 , Central Okanagan reported 4.526 active listings, marking a 9.2% year over year increase, while 458 homes sold, up 6.8% from the previous June, with total sales volume rising nearly 11.7%. Properties sold for an average of 96.87% of list price over about 60 days on market, and the absorption rate hovered at approximately 10.1%, which aligns with balanced market definitions.
The North Okanagan saw an 11.6% rise in active listings to 1,672, with 197 units sold, up 7.7% year over year, and sales volume climbing 12.6%. Homes sold in about 67 days , attaining 96.2% of list price on average. With an absorption rate of roughly 11.8%, this too points toward balanced-market dynamics.
Inventory is increasing - but not overwhelmingly - providing buyers more options than in past years. At the same time, sales remain robust and prices are stable, signaling healthy demand without overbidding wars. This is a clear shift from previous periods where tight supply and rapid price appreciation dominated.
For buyers, more available homes and slower turnover mean increased negotiating power - especially outside the ultra-competitive under $1 million segment. Sellers can still sell properties near list price if priced competitively. Accuracy in listing price and strong marketing are key. Finally, investors can take advantage of the stable opportunities that balanced conditions offer in both rental and resale markets - particularly in segments with strong location or income potential.