Property Valuation Guide 2025
Kelowna Home Values
Discover your home's true market value. Current 2025 pricing by neighbourhood, value factors, trends, and free professional home valuation.
Current Kelowna Home Values (2025)
Current market pricing across property types
Overall median across all property types in Kelowna
Detached homes remain the most valuable property type
Popular middle ground between condos and houses
Entry-level pricing for first-time buyers
Home Values by Neighbourhood
Kelowna neighbourhoods vary significantly in pricing based on location, amenities, and lifestyle
Lower Mission
Premium LakefrontKelowna's most prestigious neighbourhood with waterfront estates, wineries, and beaches. Premium pricing reflects unmatched lifestyle and lake access.
West Kelowna
Value & ViewsWine country living with stunning lake views at better value than Kelowna proper. Growing community with strong appreciation potential.
Glenmore
Family FriendlyEstablished family neighbourhood with excellent schools, parks, and Knox Mountain access. High demand from families seeking quality of life.
Rutland
Affordable EntryMost affordable entry point to the Kelowna market. Growing amenities and improving infrastructure attract first-time buyers and investors.
Lake Country
Growth MarketQuiet lakeside communities north of Kelowna with small-town charm. Strong growth trends and appreciation potential.
Peachland
Lifestyle & RetirementCharming lakeside town popular with retirees and lifestyle buyers. Beach community with historic downtown character.
Factors That Affect Home Value
Understanding what drives property values in Kelowna
Location & Neighbourhood
Proximity to lake, downtown, schools, and amenities significantly affects value. Premium neighbourhoods command 50-100% higher prices than entry-level areas.
Size & Lot Size
Square footage and lot size directly impact value. Larger lots and homes command premium pricing, especially in desirable areas with limited land availability.
Age & Condition
Newer homes and well-maintained properties command premium prices. Homes requiring significant repairs or updates sell at discounts of 10-30%.
Renovations & Updates
Kitchen and bathroom renovations provide strong ROI. Updated homes sell faster and for 5-15% more than comparable homes needing updates.
View (Lake, Mountain, City)
Lake views can add $100K-$500K+ to property value. Mountain and city views provide 5-20% premiums depending on quality and unobstructed sightlines.
Proximity to Amenities
Walking distance to beaches, parks, shopping, and restaurants increases desirability. Homes near top schools command premiums in family-focused markets.
How to Get Your Home Valued
Compare different valuation methods and their accuracy
Online Estimates (Zillow, REW)
Low to Moderate AccuracyAutomated algorithms provide quick estimates but often miss key details like condition, renovations, and micro-location factors. Accuracy typically within 10-20% of market value.
- +Instant results
- +No commitment
- -Limited accuracy
- -Misses unique features
- -Can be outdated
BC Assessment
Moderate AccuracyGovernment assessment for tax purposes based on July 1st data from previous year. Not designed for market value—actual sale prices can vary significantly higher or lower.
- +Publicly available
- +Standardized process
- -6+ months outdated
- -Not market value
- -Tax-focused
Comparative Market Analysis (CMA)
High AccuracyProfessional analysis by a realtor using recent comparable sales, active listings, and expired listings. Most accurate method for determining current market value.
- +Most accurate
- +Current data
- +Free from realtors
- +Considers unique features
- -Requires realtor contact
Professional Appraisal
Very High AccuracyLicensed appraiser provides detailed valuation required for mortgage purposes. Conservative approach ensures lender protection but may undervalue in hot markets.
- +Bank-approved
- +Highly detailed
- +Licensed professional
- -Costs $300-$600
- -Conservative approach
- -Takes time
Recommended Approach
For the most accurate home valuation, request a free Comparative Market Analysis (CMA) from a local Kelowna realtor. This professional analysis considers your home's unique features, recent comparable sales, and current market conditions to provide the most reliable estimate of your property's market value.
What's Your Kelowna Home Worth?
Get a free, professional Comparative Market Analysis (CMA) with current pricing data specific to your neighbourhood. No obligations, just accurate information.
Kelowna Home Price Trends
5-year price history and 2025 forecast
Strong Growth
Pandemic migration and low interest rates drove prices up 20-30%. Kelowna became a top destination for remote workers and lifestyle buyers.
Peak & Correction
Market peaked in early 2022 before interest rate hikes cooled demand. Prices declined 10-15% from peak as inventory increased.
Stabilization
Market found equilibrium with prices stabilizing. Buyers adjusted to higher rates while sellers accepted new price reality.
Buyer's Market
High inventory and stabilizing rates favor buyers. Prices down 2-3% YoY but long-term fundamentals remain strong.
Gradual Recovery
Expected modest appreciation as inventory normalizes. Lifestyle appeal and limited land support long-term value growth.
What's Driving Values in 2025?
Kelowna home values in 2025 are influenced by several key factors: stabilizing interest rates after the aggressive increases of 2022-2023, high inventory levels giving buyers more selection and negotiating power, and continued migration of lifestyle buyers and remote workers attracted to the Okanagan quality of life.
While short-term prices have softened 2-3% year-over-year, Kelowna's long-term fundamentals remain exceptionally strong. Limited land availability, particularly in premium lakefront and foothill locations, combined with steady population growth and the region's lifestyle appeal, supports long-term appreciation potential.
For sellers, current conditions mean strategic pricing and professional marketing are more important than ever. For buyers, the current market offers opportunities to purchase quality properties at fair prices with less competition than peak market conditions.
Kelowna Home Values FAQs
Common questions about property values in Kelowna
What is my house worth in Kelowna?
Your home's value depends on location, size, condition, age, and recent comparable sales in your neighbourhood. The median home price in Kelowna is around $950,000, but values range from $400,000 for condos to $5M+ for luxury estates. Request a free Comparative Market Analysis (CMA) for an accurate valuation of your specific property.
How accurate is BC Assessment for home values?
BC Assessment values are based on data from July 1st of the previous year and are used for property tax purposes—not market value. The actual market value of your home can be significantly higher or lower than BC Assessment. A real estate agent's CMA provides current market value based on recent sales.
What factors affect home values in Kelowna?
Key factors include: location and neighbourhood desirability, proximity to Okanagan Lake, views (lake, mountain, city), property size and lot size, age and condition of the home, recent renovations and updates, school catchment areas, and local market conditions.
Are Kelowna home values going up or down in 2025?
Kelowna home values are down 2-3% year-over-year in 2025 due to high inventory and stabilizing interest rates. This follows several years of strong appreciation. Long-term fundamentals remain strong due to lifestyle appeal, limited land, and population growth.
How do I get my home valued for free?
Contact a local Kelowna realtor for a free Comparative Market Analysis (CMA). This professional assessment analyzes recent sales of similar properties in your area and provides a realistic market value estimate. Online tools like Zillow offer estimates but are less accurate than a CMA.
What is the difference between appraised value and market value?
Appraised value is determined by a licensed appraiser for mortgage purposes and is conservative. Market value is what a willing buyer will pay a willing seller in current conditions. Market value can be higher or lower than appraised value depending on demand, competition, and buyer motivation.
Related Resources
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