March Kelowna Real Estate Market Statistics
- Mark Coons
- 12 minutes ago
- 2 min read
What’s Really Happening in Kelowna’s Real Estate Market?
While big markets like Toronto and Vancouver saw steep declines in home sales this February—down 28% and 14% respectively—Kelowna is showing unexpected resilience. Even with a 14% jump in inventory, local sales are on the rise, climbing 23% from February to March and up 11% compared to this time last year. Average home prices, particularly in the single-family and townhome segments, are holding firm or even ticking upward as buyer confidence improves alongside gradually easing interest rates.
But there’s more to the story. The introduction of new density rules under Bill 44 is reshaping Kelowna’s development landscape, unlocking the potential for over 26,000 new homes. This influx of potential supply has started to soften premiums on some development lots, adding a layer of uncertainty to that part of the market. At the same time, condos are experiencing more price volatility, driven by higher inventory levels and tightened short-term rental regulations.
ll in all, Kelowna continues to defy national trends. The latest data points to a more balanced—yet still active—market as we head into spring.
Total Sales
Sales: 351
New Listings: 1,266
Current Inventory: 3,540
Median Days to Sell: 41
Average Days to Sell: 65
Months of Inventory: 10
Median Sale Price: $728,000
Average Sale Price: $845,087
Total Volume: $293,625,370
Single Family Sales
Sales: 160
New Listings: 616
Current Inventory: 1,588
Median Days to Sell: 37
Average Days to Sell: 60
Months Inventory:10
Median Sale Price: $1,040,000
Average Sale Price: $1,215,528
Total Volume: $194,484,422
Townhome Sales
Sales: 61
New Listings: 160
Current Inventory: 431
Median Days to Sell:31
Average Days to Sell: 53
Months of Inventory: 7
Median Sale Price: $720,000
Average Sale Price: $750,493
Total Volume: $45,780,085
Apartment Sales
Sales:92
New Listings: 312
Current Inventory: 811
Median Days to Sell: 42
Average Days to Sell: 66
Months of Inventory: 9
Median Sale Price: $414,000
Average Sale Price: $443,684
Total Volume: $40,818,925
Reach out if you have any questions on how your properties compare or if you have any questions on the market.
Mark and Maddie Coons
778-744-0872
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