First-Time Buyer

Tips for Summer 2025 in Kelowna

Thinking about buying your first home in Kelowna this summer? Here's what first-time buyers need to know—based on the latest numbers from May 2025.

1. Inventory Is Working in Your Favour

Inventory continues to climb across all property types, giving buyers more choice and more time. As of May, there were over 3,400 active listings in the Central Okanagan—a steady rise since earlier this spring.

Why it matters: More listings mean more leverage. Buyers have breathing room to shop, compare, and negotiate.

2. Detached Homes Are Selling, But Without the Rush

Detached home sales rose 3.2% year-over-year in May, with 450 homes sold. The average price increased 8.75% YoY to $1,150,234. Days on market dropped to 52, meaning homes are still moving but not at a breakneck pace.

What it means: The market is active and balanced. Sellers are getting offers, but buyers aren’t being pushed into bidding wars or panic purchases.

3. Condos: More Time, More Opportunity

Condo sales dipped 21% compared to May 2024, with 98 units sold. However, the average price rose 6% to $515,795, and units are taking longer to sell—68 days on market, a 34% increase year-over-year.

Why this benefits you: Slower condo sales and longer timelines create ideal conditions for first-time buyers—less competition, more negotiating power.

4. Townhomes Still Offer Strong Value

Townhome sales were down 7% YoY, with 75 units sold at an average price of $698,299. Days on market dropped 16% to 62 days, showing that well-priced homes in this segment are still moving.

What to know: Townhomes may offer the best balance of space and affordability, especially for buyers who need more than a one-bedroom condo but aren't ready to stretch for a detached home.

5. Negotiation Is Back

With longer timelines and higher inventory, sellers are more open to offers with conditions, price adjustments, or perks like appliances and flexible closing dates.

Pro tip: Now’s the time to get strategic—ask for seller-paid closing costs, pre-listing inspections, or even a furniture inclusion. There’s room to make a deal.

What To Do Next

1.  Get mortgage pre‑approval to strengthen offers
2.  Don’t rush—average DOM is giving buyers breathing room
3.  Negotiate smartly—ask for credits, appliances, or flexible dates

Why Summer 2025 Is a Smart Time to Buy a Home in Kelowna

•  Inventory is up across all home types—detached homes, condos, and townhomes

• Detached sales are rising without buyer pressure

• Condo and townhome markets are less competitive

• You have time to inspect, negotiate, and think it through

➕ Bonus Tip

Looking at new construction? You might qualify for the GST New-Home Rebate—potentially saving up to $50,000 on homes under $1.5M.

Whether you're just starting to explore your options or you’re ready to make a move, I’m here to help you navigate the Kelowna market with confidence. If you have questions about your next steps, feel free to reach out—let’s talk about what makes the most sense for you and your goals as a first-time buyer.

Warm regards,

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