What Buyers and Sellers Need to Know Right Now

November always shifts the tempo in the Okanagan. As the weather cools and the valley settles into winter routines, our real estate market also finds a more measured pace. For many buyers and sellers, this seasonal slowdown raises the question: what is actually happening in the market, and how should it guide your next move?

After reviewing the latest November statistics for Kelowna and the Central Okanagan, here is what stands out and how it affects your plans.

A Steady Market With More Breathing Room for Buyers

Across the region, November reinforced that we remain in a buyers’ market with steady pricing. Inventory levels are high. For example, single family homes sit at 9 months of inventory, condos at 10 months, townhomes at 11 months, and lots at 32 months. This gives buyers both time and negotiating power, something we rarely saw during the more accelerated years.

Single family home sales reached 133, which is a 9 percent increase compared to the same month last year. The average sale price landed at $1,078,116, slightly higher than 2024. Days on market held steady at 70 days. This shows that while buyers are taking their time, well priced homes still move at a predictable pace.

Condos and townhomes saw softer sales volumes. Condo sales dropped 23 percent while prices adjusted by 5 percent, settling at $479,439 on average. Townhomes experienced a 26 percent decline in sales, though their average price increased to $705,022, a 6 percent rise year over year.

This slower but stable pattern reflects a market where buyers are thoughtful and selective rather than rushed.

Why Sellers Still Have Strong Opportunities

Even in a buyers’ market, sellers have reasons to feel encouraged. Prices have stayed consistent in most segments. Year-to-date average prices remain solid for single family, condo, and townhome properties. This stability reassures homeowners who may have hesitated to list due to uncertainty.

Well prepared homes continue to stand out. With fewer new listings coming to market in November, supply is not growing as quickly as it did earlier in the year. Thoughtfully presented properties show well to serious buyers who remain active even during the winter months.

Small seasonal adjustments can also make a noticeable difference, such as:

• Improving indoor lighting to brighten spaces in early evenings

• Keeping décor simple and tidy to make rooms feel spacious

• Clearing and lighting walkways for safe, inviting showings

In a high-inventory environment, buyers appreciate homes that feel well cared for and move-in ready.

Local Trends to Watch as We Head Into Winter

Looking at the year-to-date numbers, 2025 has outperformed 2024 in overall sales, with 4272 completed transactions compared to 3968 the previous year. This suggests that demand in the Okanagan remains healthy despite interest rate fluctuations earlier in the year.

The strongest activity continues to be concentrated in the mid-range price brackets. In the single-family category, homes between $700,000 and $999,000 saw the highest volume, with 241 to 308 sales in those segments year-to-date. These numbers reflect the continued appeal of established neighbourhoods in Kelowna, West Kelowna, and Lake Country for both relocating families and long-time locals.

While luxury sales over $1.5M were softer last year, they saw a notable rise in 2025 with 220 sales, compared to only 149 the year before. This aligns with continued interest from out-of-province buyers who value lifestyle-focused properties and the Okanagan’s recreational appeal.

As we move into December and January, inventory typically refreshes, and motivated buyers tend to re-enter the market after the holidays. Historically, this period sets the tone for spring.

What This Means for Buyers and Sellers Today

If you're buying, you have more selection and time to evaluate your options. You can negotiate with confidence, knowing prices are steady and inventory remains high.

If you're selling, the key is preparation and pricing. Buyers are sharper and more selective right now, but they are also serious. Homes that show well and are positioned properly in their segment continue to attract attention.

This balanced but slower market rewards informed decisions. Whether you’re considering upsizing, downsizing, investing, or purchasing your first home in the Okanagan, understanding the numbers helps you approach the process with clarity.

Ready to Talk About Your Next Move?

If you are considering buying or selling in Kelowna or anywhere in the Okanagan, I would be happy to walk you through what is happening in your specific neighbourhood and help you take the next step with clarity.