Central Okanagan Housing Update (Fall 2025)

Trends in the Central Okanagan Housing Market

The average house price is expected to remain fairly stable throughout the fall. However, if interest rates are reduced, the region could see a modest increase in average sales prices. Number of sales are expected to continue increasing over the next four months, with projected growth of roughly one to 1.5 per cent per month. This trend could shift if there are further changes to interest rates. 

The Central Okanagan housing market in Q4 2024 experienced a buyer’s market due to an abundance of housing supply which is expected to remain consistent for the rest of the year, that said, the region is trending to a balanced market due to increased demand. 

Families are the primary drivers of sales in the Central Okanagan housing market, seeking homes that offer space, good schools, and family-friendly neighbourhoods. At the same time, retirees are increasingly drawn to the area for their post-retirement plans, attracted by the region’s natural beauty, access to amenities, and lifestyle options that support active, comfortable living. This mix of family and retiree demand is helping to sustain overall market activity across a range of property types. 

With economic uncertainty being cited as the biggest challenge in the region, there is a greater need for buyers and sellers to adjust their expectations. Some sellers are coming to grips with current values faster than others – those are the ones who will sell. 

First-time buyers activity has not changed much year over year, consistently ranging around their mid-twenties. That said, family support is their primary method of entering the market. There has been an increase in conditional sales as more contracts are subject to the sale of their home. Regarding up and coming neighbourhoods, these have remained relatively unchanged. Lower Mission, South Pandosy and Kelowna North are examples of neighbourhoods that have greater appeal in the area due to their overall affordability and access to amenities. 

Central Okanagan’s average house price has remained steady in recent years, but the value behind that number has shifted. Today’s buyers can often secure larger or higher-quality homes for the same price compared to three years ago, a shift that’s encouraging some sellers to be more flexible in their negotiations.