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August Market Snapshot

August Market Update: Wildfires Pause Activity Across the North Okanagan

August real estate activity slowed significantly as forest fires and local evacuations temporarily shifted community priorities away from the market.

North Okanagan Breakdown:

  • Sales: Tumbled 34% year-over-year and finished 37% below the 10-year average, with notable pullbacks across all property types.

  • Listings & Inventory: New listings dropped 21% year-over-year (and 21% below the 10-year average). Single-family inventory felt the largest squeeze, falling 20% year-over-year.

  • Prices: Prices remained steady despite lower volume. The median sales price rose 1.3% year-over-year (though dipped slightly from July). The overall Benchmark Price edged up 0.4% year-over-year, while the single-family Benchmark Price ticked up 0.7% year-over-year—both up slightly from July.

Regional Snapshot:

  • Central Okanagan: Sales fell 9% year-over-year and 25% below the 10-year average.

  • South Okanagan: Sales dropped 35% year-over-year, heavily impacted by fires and evacuations near Summerland.

  • Provincial Benchmark: Across British Columbia, residential sales fell 4.7% year-over-year (25.4% below the 10-year average).

Interest Rates

  • The Bank of Canada held its overnight policy rate at 2.25%. The next rate announcement is October 28.


Looking Ahead: The temporary slowdown has left the market teetering on the fence between a Buyer’s and a Balanced market. As the fire situation cools, expect a modest autumn bounce-back in both sales and listings as sidelined buyers and sellers re-enter the fall market.


Sales

North Okanagan Unit Sales were down 34% Year-over-Year (111 vs 167) and come in 37% below the 10 Year Average (176).  





 

 




Median Sales Price

  • Median Selling Price was $645,000, which was up 1.3% Year-over-Year ($637,000), but down from July ($650,000). 

 







Benchmark Price

  • Single Family Home Benchmark price is $794,300, which is up 0.7% Year-Over-Year and up from July ($782,100)
  • Townhome Benchmark price is $545,900, which down 7.2% Year-over-Year and down from July ($561,000).
  • Condo Benchmark price is $302,400, which is down 3.4% Year-over-Year and down from July ($316,200). 
  • The Overall Composite Benchmark Price for the North Okanagan was down 0.4% Year-over-Year ($680,400 vs $683,000) but up from July ($677,200).
     






New Listings hitting the market were down 21% Year-over-Year (209 vs 264) which is about 21% below the 10-Year average (263).  New Listings were the lowest totals we have seen over the past 10 years for the month of August.  



Active Listings are down 10%Year-over-Year (994 vs 1103), which puts the North Okanagan about 7% above the 10 year average (931).

 






The overall North Okanagan straddles the line between a Buyer's Market and a Balanced Market after being close to a Sellers Market in July.

The Sales to Active Listings ratio is 11% (down from 16% in July).
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 53% (down from 72% in July).
Between 40-60% is considered a Balanced Market. 


 

Central Okanagan


Unit Sales in the Central Okanagan were down 9% Year-over-Year (327 vs 361), which is 25% below the 10 Year Average of 435.  
 

Benchmark Price 

  • Single Family homes price $1,056,700 which is up 0.2% Year-over-Year but down from July ($1,072,400)
  • Townhome price $698,600 which is down 3.3% Year-over-Year and down from July ($709,500)
  • Condo price is $465,700 which is down 5.5% Year-over-Year and down from July ($490,700)
  • The Overall Composite Benchmark Price for the Central Okanagan was down 0.5% Year-over-Year ($788,000 vs $791,900) and down from July ($804,500)

The chart below shows Benchmark Prices for the Central Okanagan over the past 24 months.



 July saw 712 New Listings hit the market, which is down 17% Year-over-Year (858) and 13% below the 10-Year Average of 823.

And the 2968 current Active Listings is down 11% Year-over-Year (3342).

With a Sales to Active Listings ratio of 11% and Sales to New Listings ratio of 46% the Central Okanagan straddles the line between a Buyers Market and a Balanced Market.  


 
 

Okanagan Shuswap Report

 
 

British Columbia Report

Housing Market Activity Uneven Across Regions
 

Vancouver, BC – September 14, 2026. The British Columbia Real Estate Association (BCREA) reports that 5,653 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in August 2026, down 4.7 per cent from August 2025. The average MLS® residential price in BC in August 2026 was down 1 per cent at $924,826 compared to $925,917 in August 2025.

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Total MLS® residential sales dollar volume was $5.2 billion, down 4.8 per cent from the same time the previous year. BC MLS® unit sales were 25.4 per cent lower than the ten-year average for the month of August.

“Provincial home sales remain well below long-term averages but have been steadily improving throughout the year,” said BCREA Chief Economist Brendon Ogmundson. “We expect a gradual recovery in sales to continue, though new tariffs and a recent spike in long-term interest rates add a layer of risk to that scenario.”

Year-to-date, BC residential sales dollar volume is down 6.5 per cent to $43.26 billion, compared with the same period in 2025. Residential unit sales are down 5.5 per cent year-over-year at 46,069 units, while the average MLS® residential price is down 1 per cent to $939,028.

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July Market Snapshot

Sales and Inventory Drop

Items of Note for July

  • Sales down 5% Year-over-Year and 14% below the 10 Year Average.
  • New Listings down 27% YoY.  
  • Central Okanagan sales Unchanged YoY and only 9% below the 10 Year Avg. 
  • British Columbia residential home sales down 6.7% Year-over-Year, and 18.8% below the 10 Year Avg.
  • Bank of Canada overnight rate at 2.25%.  Next announcement Sept 2


July cooled off somewhat after June's rebound. Unit sales were down 5% year-over-year — 162 versus 171 — and came in 14% below the 10-year average of 189. Median sale price was up 2.4%, to $650,000 from $635,000 last year, so pricing continues to bounce around but not really make any meaningful movement.

The inventory story remains the top story. New listings were down 27% year-over-year — 226 versus 310 — and active listings fell 14%, from 1,149 down to 988. That's a meaningful tightening on top of what was already a scarce market.

If you recall, June saw a real spike in the $1M+ segment — record sales, record share of the market. July didn't repeat it. Sales were down year-over-year over $1M (27 vs. 29). June's surge at the top end looks more like a standout month than the start of a new pattern — which fits what I said at the time: one month doesn't make a trend.

By property type, sales were down almost across the board. Townhomes/triplexes/fourplexes saw the steepest drop — 18 sales versus 30 last year - well below the 10-year average of 31. Single-family home sales were the one bright spot, up year-over-year — 97 versus 90.

Overall, the North Okanagan remains in a balanced market.

Elsewhere in the valley:

Central Okanagan sales were flat year-over-year and came in just 9% below the 10-year average — but the story there was the high end. Sales above $1M jumped to 127 from 100 last year, with similar spikes above $2M, $3M, $4M, and $5M. If June's high-end surge was the North Okanagan’s moment, July was the Central's.

South Okanagan sales declined year-over-year (174 vs. 193), landing 13% below the 10-year average.


Sales

North Okanagan Unit Sales were down 5% Year-over-Year (162 vs 171) and come in 14% below the 10 Year Average (189).  





 

 




Median Sales Price

  • Median Selling Price was $650,000, which was up 2.4% Year-over-Year ($635,000), but down from June ($660,900). 

 







Benchmark Price

  • Single Family Home Benchmark price is $782,100, which is up 1.9% Year-Over-Year but down from June ($784,500)
  • Townhome Benchmark price is $561,000, which up 3.2% Year-over-Year but down from June ($591,600).
  • Condo Benchmark price is $316,200, which is down 0.4% Year-over-Year and down from June ($318,100). 
  • The Overall Composite Benchmark Price for the North Okanagan was up 3% Year-over-Year ($677,200 vs $657,300) and up from June ($684,900).
     






New Listings hitting the market were down 27% Year-over-Year (226 vs 310) which is about 22% below the 10-Year average (286).  New Listings were the lowest totals we have seen over the past 10 years fr the month of July.  

Active Listings are down 14%Year-over-Year (988 vs 1149), which puts the North Okanagan about 5% above the 10 year average (937) for the month of July.

 






The overall North Okanagan remains in to a Balanced Market but is pushing closer to a Sellers Market.

The Sales to Active Listings ratio is 16% (down from 18% in June).
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 72% (up from 66% in June).
Between 40-60% is considered a Balanced Market. 


 

Central Okanagan


Unit Sales in the Central Okanagan were unchanged Year-over-Year (438 vs 439), which is 9% below the 10 Year Average of 480.  
 

Benchmark Price 

  • Single Family homes price $1,072,400 which is unchanged Year-over-Year and up from June ($1,053,700)
  • Townhome price $709,500 which is down 2.4% Year-over-Year but up from June ($707,500)
  • Condo price is $490,700 which is down 2% Year-over-Year and down from June ($495,100)
  • The Overall Composite Benchmark Price for the Central Okanagan was up 1.6% Year-over-Year ($804,500 vs $791,600) and up from June ($795,600)

The chart below shows Benchmark Prices for the Central Okanagan over the past 24 months.



 July saw 873 New Listings hit the market, which is down 17% Year-over-Year (1047) and 6% below the 10-Year Average of 931.

And the 3066 current Active Listings is down 14% Year-over-Year (3555).

With a Sales to Active Listings ratio of 14% and Sales to New Listings ratio of 50% the Central Okanagan continues to be in a Balanced Market.  


 
 

Okanagan Shuswap Report

 
 

British Columbia Report

Housing Market Activity Uneven Across Regions
 

Vancouver, BC – August 13, 2026. The British Columbia Real Estate Association (BCREA) reports that 6,561 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in July 2026, down 6.7 per cent from July 2025. The average MLS® residential price in BC in July 2026 was down 1.3 per cent at $929,619 compared to $942,247 in July 2025.

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Total MLS® residential sales dollar volume was $6.1 billion, down 7.9 per cent from the same time the previous year. BC MLS® unit sales were 18.8 per cent lower than the ten-year average for the month of July.

“Seasonally adjusted sales activity rose from the previous month across most of BC, while weaknesses remained concentrated in the Lower Mainland,” said BCREA Chief Economist Brendon Ogmundson. “Looking ahead, resilience in the economy and a recovering labour market should translate to regional markets converging to long-term averages over the next year.”

Year-to-date, BC residential sales dollar volume is down 6.7 per cent to $38.04 billion, compared with the same period in 2025. Residential unit sales are down 5.6 per cent year-over-year at 40,432 units, while the average MLS® residential price is also down 1.2 per cent to $940,948.

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2026 First Half Recap

North Okanagan Market Recap: First Half of 2026

If you've been watching the headlines, you've probably seen the First Half sales numbers were down Year over Year. What you may not have seen is the story underneath them — and it's a little more complex than a simple "market is slowing" narrative.

The Listings Squeeze

Sales through the first half of 2026 were down 4.8% year over year. On its own, that's not a huge surprise in today's environment – wars, tariffs, Trump.  But the more significant shift was on the supply side: new listings have dropped 15.3% over the same period. That's a much steeper decline than sales, and it's already starting to show up in overall inventory, which is now trending down as well.

If that continues, it could change the conversation for both buyers and sellers in the second half of the year.

The $1M+ Market is Quietly Having a Moment

While overall sales slowed, the story at the top of the market moved the other way. Sales of homes priced over $1 million were actually up year over year — 137 sales compared to 118 last year. Meanwhile, sales under $1 million declined, from 677 to 620.

The result: homes over $1 million made up 18.1% of all North Okanagan sales in the first half of 2026 — the highest share on record for any first-half period.

Could Prices Start To Climb

If we look at the Benchmark Selling Price for the overall market in June, prices increased 2% Year over Year.  But the trend over the past 6 months has been increasing after decreasing through the second half of 2025.   And when we look at the Average selling price for all the homes sold during the first half of 2026 vs the first half of 2025 prices increased 6.5%, even with slower sales volume.   So could this be signaling the start of rising prices as we see buyer competition concentrated on a smaller pool of available listings?

What June Might Be Telling Us

So far in 2026, June was the only month with what I'd call decent sales activity so this may be a little premature.  Nonetheless, my thoughts on how this could affect the market moving forward — and I want to be clear this is speculation, not a forecast — is that if the increased sales momentum that showed up in June carries into the second half of the year, and if inventory keeps shrinking the way it has been, we could start to see upward pressure on prices.  That’s a lot of ifs, and there's nothing indicating that it will play out that way, but it's a dynamic worth watching closely.

The Bottom Line

The first half of 2026 wrapped up with a market that's more nuanced than the top-line sales number suggests. Fewer listings, tightening inventory, a resurgent $1M+ segment, and early signs of potential price pressure all point to a market that's shifting shape rather than simply slowing down. That's a shift worth noting, because for the past couple of years this market has been finicky and buyers have been patient. Could this be the first crack in that pattern?

If you're weighing a move in the second half of the year — whether buying, selling, or just trying to figure out what any of this means for your own situation — I'm happy to talk through the specifics.

Reach out.  I’m always happy to talk real estate.

























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June Market Snapshot

Buyers finally show up but Sellers Continue to Pull Back

Items of Note for June

  • Sales up 5% Year-over-Year and only 7% below the 10 Year Average.
  • Sales above $1,000,000 up 39% YoY
  • New Listings down 22% YoY.  
  • Central Okanagan sales up 10% YoY and only 6.5% below the 10 Year Avg. 
  • British Columbia residential home sales up 0.9% Year-over-Year, but 18.4% below the 10 Year Avg.
  • Bank of Canada keeps overnight rate at 2.25%. 


June told two very different stories depending on price point. New listings continued their year-long slide, down 22% year-over-year and the lowest for any June in the past decade. Active listings followed suit, down 11% YoY. But sales rebounded — up 5% year-over-year and only 7% below the 10-year average, a real shift after seeing sales range between 21-26% below the 10 year average between Feb and May..

Sales under $1M actually dipped slightly (147 vs. 150), with every property type seeing fewer sales year-over-year. For the single family home segment Inventory tightened even further — pushing the sales to active listings ratio to 24% and the sales-to-new-listings ratio to 79%, the highest we've seen since the first half of 2023.  This is edging close to seller's market territory. Yet prices under $1M still aren't moving. Buyers are staying disciplined: homes priced accurately are moving fast, while overpriced listings are sitting untouched.

Above $1M, June was a different world entirely. Sales hit 39 — tying the all-time monthly record — and made up 21% of all sales in the North Okanagan, the highest share on record. Every tier from $1M+ to $3M+ either matched or set a new high. My take: sellers at this price point have adjusted prices to meet the market, and buyers are recognizing the value, especially when compared to similar properties in Kelowna.

Looking around the rest of the Okanagan, the Central Okanagan saw sales up 10% year-over-year and only 6.5% below the 10 year average, while in the South Okanagan sales were flat,(but this follows a very strong month of May that saw sales almost 6% above the 10 year average).. Both markets saw flat benchmark pricing YoY and are seeing the same inventory squeeze that the north Okanagan is..


Sales

North Okanagan Unit Sales were up 5% Year-over-Year (186 vs 177) and come in just 7% below the 10 Year Average (200).  
Sales of properties above $1M have record breaking month:

  • 39 sales above $1M ties highest total ever
  • 14 sales above $1.5M highest ever
  • 7 sales above $2M tied for 2nde highest ever
  • 4 sales above $3M highest ever





 

 




Median Sales Price

  • Median Selling Price was $660,900, which was up 6% Year-over-Year ($623,250), and up from May ($646,000). 

 







Benchmark Price

  • Single Family Home Benchmark price is $784,500, which is up 0.4% Year-Over-Year and up from May($756,900)
  • Townhome Benchmark price is $591,600, which up 5.1% Year-over-Year and up May ($567,100).
  • Condo Benchmark price is $318,100, which is down 2.2% Year-over-Year and down from May ($322,100). 
  • The Overall Composite Benchmark Price for the North Okanagan was up 2% Year-over-Year ($684,900 vs $671,200) and up from May ($661,500).
     






New Listings hitting the market were down 22% Year-over-Year (281 vs 361) which is about 22% below the 10-Year average (336).  New Listings were the lowest totals we have seen over the past 10 years fr the month of June.  

Active Listings are down 11%Year-over-Year (1027 vs 1149), which puts the North Okanagan about 10% above the 10 year average (934) for the month of June.

 






The overall North Okanagan remains in to a Balanced Market but is pushing closer to a Sellers Market.

The Sales to Active Listings ratio is 18% (up from 15% in May).
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 66% (up from 49% in May).
Between 40-60% is considered a Balanced Market. 


 

Central Okanagan


Unit Sales in the Central Okanagan were up 10% Year-over-Year (458 vs 417), which is 6.5% below the 10 Year Average of 490.  
 

Benchmark Price 

  • Single Family homes price $1,053,700 which is down 1.6% Year-over-Year and down from May ($1,062,800)
  • Townhome price $707,500 which is down 0.9% Year-over-Year and down from May ($732,400)
  • Condo price is $495,100 which is down 3.4% Year-over-Year and down from May ($498,200)
  • The Overall Composite Benchmark Price for the Central Okanagan was down 0.6% Year-over-Year ($795,600 vs $800,300) and unchanged from May ($796,600)

The chart below shows Benchmark Prices for the Central Okanagan over the past 24 months.



 June saw 986 New Listings hit the market, which is down 13% Year-over-Year (1130) and 16% below the 10-Year Average of 1074.

And the 3195 current Active Listings is down 11% Year-over-Year (3473).

With a Sales to Active Listings ratio of 14% and Sales to New Listings ratio of 46% the Central Okanagan continues to be in a Balanced Market.  


 
 

Okanagan Shuswap Report

 
 

British Columbia Report

Market Activity Shows Encouraging Signs of Improvement
 

Vancouver, BC – July 13, 2026. The British Columbia Real Estate Association (BCREA) reports that 7,225 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in June 2026, up 0.9 per cent from June 2025. The average MLS® residential price in BC in June 2026 was down 0.8 per cent at $946,878 compared to $954,712 in June 2025.

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Total MLS® residential sales dollar volume was $6.84 billion, up 0.1 per cent from the same time the previous year. BC MLS® unit sales were 18.4 per cent lower than the ten-year average for the month of June.

“Sales rose year-over-year in June for the first time since September 2025, driven by stronger activity in the Greater Vancouver area,” said BCREA Chief Economist Brendon Ogmundson. “We hope this marks the beginning of a stronger second half of the year across BC housing markets as sales converge to more normal levels following several years of unexpected global shocks.”

Year-to-date, BC residential sales dollar volume is down 6.4 per cent to $31.96 billion, compared with the same period in 2025. Residential unit sales are down 5.4 per cent year-over-year at 33,886 units, while the average MLS® residential price is also down 1.1 per cent to $943,249.

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May Market Snapshot

Slow Sales Continue and now Sellers Pulling Back

Items of Note for May

  • New Listings down 21% YoY and lower then April.  North, Central and South Okanagan all see New Listings decline from April to May - only the 2nd time that has happened in the last decade.
  • Central Okanagan & South Okanagan New Listings declined 2 months in a row. 
  • British Columbia residential home sales down 2% Year-over-Year.
  • Bank of Canada keeps overnight rate at 2.25%.


Two things stand out from May's numbers: sales and new listings.

On the sales side, it's a mixed picture. The North Okanagan was down 4.3% year over year — the second lowest May in a decade. The Central Okanagan was down 3.8%, also the second lowest May for sales in ten years. Not great, but not a big surprise given the spring we've had.

The bright spot? The South Okanagan bucked the trend completely — up 26.6% year over year and the third highest May on record in the past decade, sitting 5.7% above the 10-year average. For context, the last time the North and Central Okanagan were above their 10-year averages was April 2022.

Now here's the number that really caught my attention: New Listings. Across all three regions, listings were down year over year by between 18% and 23% — but that's the lesser story. What's more surprising is that all three regions actually saw fewer New Listings in May than in April, which almost never happens. The North Okanagan was down 8.4% from April, with the Central and South Okanagan following the same pattern, down 4.2% and 9.6% respectively.

Even more telling — both the Central and South Okanagan saw more new listings in March than in either April or May. That means two consecutive months of declining listings starting in March, which is when inventory typically begins climbing toward a June peak. In ten years of data, a spring pullback like this hasn't happened before.

So what does it mean heading into summer? Sales are soft, supply may have already peaked for the season, and less inventory combined with cautious buyers sets up a very interesting few months ahead. I’ve always said, one month does not a trend make so we will see how this plays out. 

The big question now is whether June snaps back to normal — or whether this is just the way 2026 is going to play out.


Sales

North Okanagan Unit Sales were down 4.3% Year-over-Year (154 vs 161) and come in 20.6% below the 10 Year Average (194).  
YTD sales are down 7.6% from 2025 (571 vs 618) and 22.6% below the 10 Year Average (738).
In the last 10 years only May 2020 saw fewer sales (131).



 




Median Sales Price

  • Median Selling Price was $646,000, which was down 1.4% Year-over-Year ($655,000), and down from April ($672,450). 
 







Benchmark Price

  • Single Family Home Benchmark price is $756,900, which is down 1.5% Year-Over-Year but unchanged from April ($758,000)
  • Townhome Benchmark price is $567,100, which up 3.8% Year-over-Year but down from April ($600,700).
  • Condo Benchmark price is $322,100, which is unchanged Year-over-Year but up from April ($320,000). 
  • The Overall Composite Benchmark Price for the North Okanagan was up 0.5% Year-over-Year ($661,400 vs $658,100) but down from April ($670,100).
     






New Listings hitting the market were down 20.5% Year-over-Year (315 vs 396) which is about 12% below the 10-Year average (356).  New Listings in May were below April numbers and almost equal to March numbers  

Active Listings are down 7.5%Year-over-Year (1016 vs 1098), which puts the North Okanagan about 14% above the 10 year average (890) for the month of May.

 






The overall North Okanagan market moves in to a Balanced Market.

The Sales to Active Listings ratio is 15% (up from 13% in April).
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 49% (up from 38% in April).
Between 40-60% is considered a Balanced Market. 


 

Central Okanagan


Unit Sales in the Central Okanagan were down 3.8% Year-over-Year (431 vs 448), which is 17% below the 10 Year Average of 521.  April Year-To-Date sales are 2.4% below 2025 (1238 vs 1269) and 20.1% below the 10 Year Average (1550).
 

Benchmark Price 

  • Single Family homes price $1,062,8 which is up 0.6% Year-over-Year and up from April ($1,049,900)
  • Townhome price $732,400 which is down 1.9% Year-over-Year but up from April ($724,000)
  • Condo price is $498,200 which is down 1,8% Year-over-Year and unchanged from April ($497,500)
  • The Overall Composite Benchmark Price for the Central Okanagan was up 0.8% Year-over-Year ($807,500 vs $801,300) and up from April ($798,900)

The chart below shows Benchmark Prices for the Central Okanagan over the past 24 months.



 May saw 995 New Listings hit the market, which is down 18% Year-over-Year (1212) and 8% below the 10-Year Average of 1052.

And the 3112 current Active Listings is down 10% Year-over-Year (3473) but is still 27% above the 10-year average of 2446.

With a Sales to Active Listings ratio of 14% and Sales to New Listings ratio of 43% the Central Okanagan enters into a Balanced Market.  


 
 

Okanagan Shuswap Report

 
 

British Columbia Report

Sales Struggle Against a Weak Economy and Rising Mortgage Rates
 

Vancouver, BC – June 11, 2026. The British Columbia Real Estate Association (BCREA) reports that 6,790 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in May 2026, down 2 per cent from May 2025. The average MLS® residential price in BC in May 2026 was down 1.4 per cent at $945,878 compared to $959,216 in May 2025.

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Total MLS® residential sales dollar volume was $6.42 billion, down 3.4 per cent from the same time the previous year. BC MLS® unit sales were 26.39 per cent lower than the ten-year average for the month of May.

“Rising mortgage rates and a weak labour market continue to constrain activity around the province but especially in the Lower Mainland,” said BCREA Chief Economist Brendon Ogmundson. “The recent rise in mortgage rates presents an unexpected headwind for the market this year and may further delay a recovery in activity.”

Year-to-date, BC residential sales dollar volume is down 8 per cent to $25.1 billion, compared with the same period in 2025. Residential unit sales are down 6.9 per cent year-over-year at 26,681 units, while the average MLS® residential price is also down 1.2 per cent to $941,883.

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April Market Snapshot
 

Slower Sales Continue in the North Okanagan

Items of Note for April

  • North Okanagan sales down 10% Year-over-Year 
  • Sales 25% below the 10 Year Average
  • Year to date sales down 8.8% vs 2025 and 23% below 10 Year Avg
  • North Okanagan on the fence between a Buyer's and Balanced Market 
  • Central Okanagan sales down 4% Year-over-Year and 16% below the 10 Year Average
  • British Columbia residential home sales down 1.9% Year-over-Year and 25% below the 10 Year Average
  • Next Bank of Canada rate announcement June 10


The North Okanagan market continued its slower pace through April, with sales down 10% year-over-year and sitting roughly 25% below the 10-year average. Notably, April 2026 is the second slowest year for sales in the past decade, with only April 2020 at the onset of COVID seeing lower activity. Year-to-date, sales are down 8.8% compared to 2025, reinforcing the more cautious tone we’ve been seeing throughout the spring market.

Despite softer sales activity, pricing has held relatively steady. The median sale price rose 4% year-over-year to $672,450, while benchmark prices showed mixed results depending on property type. Single-family homes remained relatively flat, while townhomes saw stronger growth, up 4.3%. 

Inventory levels continue to give buyers decent choice. Active listings are up about 21% above the 10-year average, even though they are down slightly compared to last year. Meanwhile, new listings declined by 13% year-over-year, suggesting sellers are also taking a more measured approach. The result is a market that isn’t oversupplied, but also not experiencing strong demand.

The North Okanagan remains right on the line between a balanced and buyer’s market, with homes taking about 61 days to sell on average. Well-priced properties are still moving, while others are seeing price reductions before attracting offers.

Across the region, similar trends continue. Central Okanagan sales were down 4% year-over-year and remain 16% below long-term averages, while BC home sales dipped 1.9% and sit 25% below the 10-year norm.

Overall, the market is steady but cautious. Buyers have more leverage, sellers need to be strategic, and many are watching the next Bank of Canada rate decision on June 10 for direction heading into summer.


Sales

North Okanagan Unit Sales were down 9.7% Year-over-Year (129 vs 143) and come in 25.4% below the 10 Year Average (173).  
YTD sales are down 8.8% from 2025 (417 vs 457) and 23.3% below the 10 Year Average (544).
In the last 10 years only April 2020 saw fewer sales (69).
April 2021 saw 324 sales which is the most monthly sales in the North Okanagan for any month since at least 2008.
April 2022 was the last time actual sales were above the 10 Year Average



 




Median Sales Price

  • Median Selling Price was $672,450, which was up 4% Year-over-Year ($646,000), and up from March ($634,500). 
 







Benchmark Price

  • Single Family Home Benchmark price is $758,000, which is down 0.6% Year-Over-Year and down from March ($761,700)
  • Townhome Benchmark price is $600,700, which up 4.3% Year-over-Year and up from March ($548,900).
  • Condo Benchmark price is $320,000, which is down 0.9% Year-over-Year but up from March ($303,900). 
  • The Overall Composite Benchmark Price for the North Okanagan was up 1.1% Year-over-Year ($670,100 vs $662,600) and down from March ($656,400).
     






New Listings hitting the market were down 13% Year-over-Year (343 vs 394) which is about 3% below the 10-Year average (332).  

Active Listings are down 3%Year-over-Year (980 vs 1015), which puts the North Okanagan about 21% above the 10 year average (811) for the month of April

 






The overall North Okanagan market continues to straddle the fence between a Balanced Market and a Buyer's Market.

The Sales to Active Listings ratio is 13% (down from 14% in March).
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 38% (down from 39% in March).
Between 40-60% is considered a Balanced Market. 

Days to Sell Average is 61 days.  This is unchanged Year-over-Year (61),


 

Central Okanagan


Unit Sales in the Central Okanagan were down 3.6% Year-over-Year (399 vs 414), which is 16% below the 10 Year Average of 476.  April Year-To-Date sales are 2.4% below 2025 (1238 vs 1269) and 20.1% below the 10 Year Average (1550).
 

Benchmark Price 

  • Single Family homes price $1,049,900 which is down 1% Year-over-Year and unchanged from March ($1,047,900)
  • Townhome price $724,000 which is down 1.5% Year-over-Year and unchanged from March ($725,500)
  • Condo price is $497,500 which is down 2.3% Year-over-Year but up from March ($471,800)
  • The Overall Composite Benchmark Price for the Central Okanagan was unchanged Year-over-Year ($798,900 vs $797,600) and up from March ($777,500)

The chart below shows Benchmark Prices for the Central Okanagan over the past 24 months.



April saw 1039 New Listings hit the market, which is down 14% Year-over-Year (1207) and 4.7% above the 10-Year Average of 992.

And the 3057 current Active Listings is down 8.5% Year-over-Year (3342) and is 34.5% above the 10-year average of 2272.

With a Sales to Active Listings ratio of 13% and Sales to New Listings ratio of 38% the Central Okanagan straddles the line between a Buyer's Market and a balanced market.  


 
 

Okanagan Shuswap Report
Local Residential Real Estate Market Activity Showing Stability and Resilience

KELOWNA, B.C. – May 5, 2026  Residential real estate activity in April showed great resilience in the Interior in comparison to other BC markets, reports the Association of Interior REALTORS® (the Association).

A total of 1,319 residential unit sales were recorded across the Association region in April, up from March’s 1,154 units, and up 0.2% compared to units sold in April 2025.

New residential listings saw an 8.9% decrease compared to April 2025 with 3,134 new listings recorded last month, yet up from the previous month’s 3,059 new listings. The total number of active listings saw a 5.0% decrease in inventory compared to April 2025 with 8,926 recorded across the Association region. The only percentage increase in active listings across the Association region was recorded in the Kamloops and District region with a total increase of 2.3% compared to April last year.

“With sales closely tracking last year’s activity, the Interior real estate market remains comparatively resilient amid other provincial markets that are experiencing increased volatility,” says Association of Interior REALTORS® President Ryan Mayne, adding that “with healthy inventory levels, balanced market conditions and prices staying fairly steady, it remains important for sellers to price appropriately at the onset so listings don’t go stale.”

In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw decreases last month in all sub-areas in year-over-year comparisons with the exception of the Shuswap/Revelstoke region that saw a percentage increase of 2.3%, coming in at $725,800. The townhome housing category saw percentage increases in all sub-areas with the exception of the Central Okanagan region that saw a slight decrease of 1.5% compared to the same month the previous year, coming in at $724,000. The benchmark price in the condominium housing category saw decreases in all sub-regions compared to April 2025 with the highest percentage decrease of 2.3% recorded in the Central Okanagan, coming in at $497,500.



Given the high stakes on such a significant financial transaction, home sellers and buyers can benefit from the knowledge and skills of a practiced REALTOR®. Contact your local REALTOR® Mark Nichiporuk to find out more about the real estate market and how I can help you achieve your real estate goals.

 
 

British Columbia Report

Market Activity Endures Through Foreign and Domestic Headwinds
 

Vancouver, BC – May 11, 2026. The British Columbia Real Estate Association (BCREA) reports that 6,311 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in April 2026, down 1.9 per cent from April 2025. The average MLS® residential price in BC in April 2026 was up 0.8 per cent at $952,768 compared to $944,796 in April 2025.

chart

Total MLS® residential sales dollar volume was $6.01 billion, down 1.1 per cent from the same time the previous year. BC MLS® unit sales were 25.38 per cent lower than the ten-year average for the month of April.

“Challenges in the local economy and labour market, combined with upward pressure on rates due to the ongoing oil supply shock, are continuing to suppress pent-up demand and weaken overall market activity,” said BCREA Chief Economist Brendon Ogmundson. “However, modest monthly gains (seasonally adjusted) in some regions hopefully depict the beginning of a broader stabilization in housing activity, underpinned by improved affordability conditions that should encourage prospective buyers to enter the market.”

Year-to-date, BC residential sales dollar volume is down 9.5 per cent to $18.7 billion, compared with the same period in 2025. Residential unit sales are down 7.6 per cent year-over-year at 20,059 units, while the average MLS® residential price is also down 2 per cent to $932,492.

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March Market Snapshot
 
 

A Cautious Start to Spring

Items of Note for March

  • North Okanagan Year-over-Year sales unchanged Year-over-Year 
  • Sales 26% below the 10 Year Average for the second month in a row 
  • North Okanagan on the fence between a Buyer's and Balanced Market 
  • Central Okanagan sales up 6% Year-over-Year but still 22% below the 10 Year Average
  • British Columbia residential home sales down 9.7% Year-over-Year
  • Next Bank of Canada rate announcement April 29



North Okanagan sales held steady year-over-year but remain 26% below the 10-year average — a reflection of the cautious tone that has defined the market heading into spring. Prices followed a similar pattern: the median selling price edged up 2.3% year-over-year, while benchmark prices dipped slightly across all property types.

On the supply side, new listings were down 12% year-over-year but are tracking close to the 10-year average. Total active inventory is essentially unchanged from last year and sits roughly 20% above the long-term average — meaning buyers have options, but sellers aren't flooding the market either.

The mood right now is measured on both sides. Homes priced correctly are still moving quickly at any price point. Those sitting longer are generally seeing price reductions before attracting offers. With ongoing uncertainty — both domestically and globally — there's no strong sense of urgency from buyers or sellers, and the data reflects that.



Sales

North Okanagan Unit Sales were unchanged Year-over-Year (122 vs 121) and come in 26% below the 10 Year Average (164).  





 



Median Sales Price

  • Median Selling Price was $634,500, which was up 2% Year-over-Year ($620,000), but down from Feb ($644,000). 
 


North Okanagan Median Selling Price since 2022 peak.




Benchmark Price

  • Single Family Home Benchmark price is $761,700, which is down 1.1% Year-Over-Year and down from Feb ($781,200)
  • Townhome Benchmark price is $548,900, which down 4.0% Year-over-Year but unchanged from Feb ($546,000).
  • Condo Benchmark price is $303,900, which is down 4.8% Year-over-Year and unchanged from Feb ($303,500). 
  • The Overall Composite Benchmark Price for the North Okanagan was down 1.6% Year-over-Year ($656,400 vs $666,800) and down from Feb ($667,800).
     





Benchmark Selling Prices for the North Okanagan since the peak of the market March 2022. 






New Listings hitting the market were down 12% Year-over-Year (311 vs 355) which is about 3% below the 10-Year average (322).  



Active Listings are unchanged Year-over-Year (863 vs 865), which puts the North Okanagan about 20% above the 10 year average (722) for the month of March.

 






The overall North Okanagan market continues to straddle the fence between a Balanced Market and a Buyer's Market.

The Sales to Active Listings ratio is 14% (up from 11.7% in Feb). 
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 39% (unchanged from Feb).
Between 40-60% is considered a Balanced Market. 

Days to Sell Average is 85 days.  This is up Year-over-Year (64) but down sightly from Feb (86).


 

Central Okanagan


Unit Sales in the Central Okanagan for January were up 6% Year-over-Year (364 vs 343), which is 22% below the 10 Year Average of 476.  
 

Benchmark Price 

  • Single Family homes price $1,047,900 which is down 2.3% Year-over-Year and down from February ($1,056,600)
  • Townhome price $725,500 which is down 3.4% Year-over-Year but up from February ($671,300)
  • Condo price is $471,800 which is down 5.7% Year-over-Year but unchanged from February ($472,000)
  • The Overall Composite Benchmark Price for the Central Okanagan was down 2.6% Year-over-Year ($777,500 vs $797,900) and down from January ($791,000)

The chart below shows Benchmark Prices for the Central Okanagan over the past 12 months.



March saw 1058 New Listings hit the market, which is down 11% Year-over-Year (1186) and 3% above the 10-Year Average of 1030.

And the 2798 current Active Listings is down 10% Year-over-Year (3097) and is 34% above the 10-year average of 2081.

With a Sales to Active Listings ratio of 13% and Sales to New Listings ratio of 34% the Central Okanagan straddles the line between a Buyer's Market and a balanced market.  


 
 

Okanagan Shuswap Report
Local Residential Real Estate Market Activity Picks Up Heading into Spring

KELOWNA, B.C. – April 7, 2026  Residential real estate activity in March showed signs of gaining momentum ahead of the spring market, reports the Association of Interior REALTORS® (the Association).

 A total of 1,154 residential unit sales were recorded across the Association region in March, up from February’s 838 units, and up 1.3% compared to units sold in March 2025.

New residential listings saw a 4.8% decrease compared to March 2025 with 3,059 new listings recorded last month, yet up from the previous month’s 2,235 new listings. The total number of active listings saw a 3.1% decrease in inventory compared to March 2025 with 8,112 recorded across the Association region. The highest percentage increase in active listings across the Association region was recorded in the Kamloops and District region with a total increase of 4% compared to March last year.

“Although sales are still trailing the 10-year average, recent sales activity is a positive sign as we head into the typically busy spring market. We’re seeing improvement from earlier in the year, even as inventory edges down slightly compared to the same time last year, which is likely a reflection of economic uncertainty continuing to temper some consumer confidence,” says Association of Interior REALTORS® President Kadin Rainville, adding that “in this environment, strategic pricing is essential to capture buyer attention and maximize results.”

In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw decreases last month in all sub-areas in year-over-year comparisons, with the highest percentage decrease of 7.8% recorded in the South Okanagan, coming in at $709,900. The townhome housing category similarly saw percentage decreases in all sub-areas, with the Shuswap/Revelstoke region seeing the highest percentage decrease of 4.1% compared to the same time the previous year, coming in at $536,800. The benchmark price in the condominium housing category saw decreases in all sub-regions compared to March 2025 with the exception of the South Okanagan that saw an increase of 1%, coming in at $425,800.


Given the high stakes on such a significant financial transaction, home sellers and buyers can benefit from the knowledge and skills of a practiced REALTOR®. Contact your local REALTOR® Mark Nichiporuk to find out more about the real estate market and how I can help you achieve your real estate goals.

 
 

British Columbia Report

Market Activity Flounders Througout the Province
 

Vancouver, BC – March 12, 2026. The British Columbia Real Estate Association (BCREA) reports that 4,516 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in February 2026, down 9.7 per cent from February 2025. The average MLS® residential price in BC in February 2026 was down 2.9 per cent at $932,243 compared to $960,572 in February 2025.

chart

Total MLS® residential sales dollar volume was $4.21 billion, down 12.3 per cent from the same time the previous year. BC MLS® unit sales were 32.87 per cent lower than the ten-year average for the month of February.

“Housing market activity continues to struggle, with sales declining from every region in the province compared to the same time last year,” said BCREA Chief Economist Brendon Ogmundson. “We hope that improved affordability conditions in most regions and stable rates will motivate prospective demand to enter the market and drive stronger sales activity over the rest of the year.”

Year-to-date, BC residential sales dollar volume is down 17.8 per cent to $7.3 billion, compared with the same period in 2025. Residential unit sales are down 15.8 per cent year-over-year at 7,832 units, while the average MLS® residential price is also down 2.4 per cent to $929,323.

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February Market Snapshot

 

Sales Fall Sharply - Hit a 10 Year Low in the North Okanagan

Items of Note for February

  • North Okanagan Year-over-Year sales down 22% 
  • Sales 26% below the 10 Year Average - the lowest its been since March 2025 (-28%).  
  • North Okanagan on the fence between a Buyer's and Balanced Market 
  • Central Okanagan sales unchanged Year-over-Year and 22% below the 10 Year Average
  • British Columbia residential home sales down 9.7% Year-over-Year
  • Bank of Canada holds rates at 2.25%



If you recall the North Okanagan housing market opened 2026 on relatively solid footing - outperforming much of the province.  January sales were down 1% year-over-year and just 10% off the 10 year average. February, however, brought a notable pullback, with only 88 units sold, down 22% Year-over-Year and 26% below the 10-year average.  These are the lowest sales figures for the month of February in the past 10 years.  Ouch!


Despite softer sales, prices held firm: the median reached $644,000 and the average $705,735, both up 7% Year-over-Year. Benchmark results were mixed, with single-family homes and townhomes edging up while condos dipped.


Inventory climbed to 751 active listings — near a 10-year high, though still well below 2010–2016 levels — keeping the market straddling between a buyer's and a balanced market.

Given the market's resilience through most of 2025, February's dip may prove to be a blip, though speculation about rising interest rates bears watching as we head into spring.


For Buyers: More inventory and a slower sales pace means more options and stronger negotiating leverage, particularly on homes that have sat on the market as new listings surge in March with the start of the spring market.


For Sellers: Prices remain stable but the market is more competitive — accurate pricing, strong presentation, and strategic marketing will be key to a successful spring sale.


Sales

North Okanagan Unit Sales were down 22% Year-over-Year (88 vs 113) and come in 26% below the 10 Year Average (119).  





 



Median Sales Price

  • Median Selling Price was $644,000, which was up 7% Year-over-Year ($600,000), but down from Jan ($680,000). 


Average Sales Price
  • Average Selling Price was $705,735, which is up 7% Year-over-Year ($656,829), and up from Jan ($685,756).

     




Benchmark Price

  • Single Family Home Benchmark price is $781,200, which is up 1.1% Year-Over-Year and up from Jan ($745,200)
  • Townhome Benchmark price is $553,100, which up 4.6% Year-over-Year and up from Jan ($504,900).
  • Condo Benchmark price is $303,500, which is down 7.1% Year-over-Year and down from Jan ($324,800). 
  • The Overall Composite Benchmark Price for the North Okanagan was up 2% Year-over-Year ($667,800 vs $654,900) and up from Jan ($636,900).
     





Benchmark Selling Prices for the North Okanagan since the peak of the market March 2022. 






New Listings hitting the market were down 5% Year-over-Year (227 vs 239) which is about 8% above the 10-Year average (211).  



Active Listings are up 3% Year-over-Year (751 vs 727), which puts the North Okanagan about 19% above the 10 year average (630) for the month of February.

 






The overall North Okanagan market continues to straddle the fence between a Balanced Market and a Buyer's Market.

The Sales to Active Listings ratio is 11.7% (unchanged from 11.6% in Jan). 
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 39% (down from 45% in Jan). 

Days to Sell Average is 86 days.  This is down Year-over-Year (103) but up from January (83).


 

Central Okanagan


Unit Sales in the Central Okanagan for January were unchanged Year-over-Year (273 vs 271), which is 22% below the 10 Year Average of 351.  
 

Benchmark Price 

  • Single Family homes price $1,056,600 which is basically unchanged Year-over-Year and unchanged from January ($1,060,300)
  • Townhome price $671,300 which is down 8.1% Year-over-Year and down from January ($678,400)
  • Condo price is $472,000 which is down 7.3% Year-over-Year and down from January ($504,600)
  • The Overall Composite Benchmark Price for the Central Okanagan was down 2.6% Year-over-Year ($777,500 vs $797,900) and down from January ($791,000)

The chart below shows Benchmark Prices for the Central Okanagan since the market peak March 2022.




December saw 823 New Listings hit the market, which is down 9% Year-over-Year (902) and 12% above the 10-Year Average of 735.

And the 2514 current Active Listings is down 6% Year-over-Year (2688) and is 38% above the 10-year average of 1822.

With a Sales to Active Listings ratio of 11% and Sales to New Listings ratio of 38% the Central Okanagan continues to be in a Buyer's Market but is very close to entering a balanced market.  


 
 

Okanagan Shuswap Report
Local Residential Real Estate Market Sees Modest Bounce-Back in Sales

KELOWNA, B.C. – March 4, 2026  Residential real estate activity in February experienced a modest rebound following a slower-than-expected January, reports the Association of Interior REALTORS® (the Association).

A total of 838 residential unit sales were recorded across the Association region in February, up from January’s 623 units, and down 8.0% compared to units sold in February 2025.

New residential listings saw a 3% decrease compared to February 2025 with 2,235 new listings recorded last month. The total number of active listings saw a 1.9% decrease in inventory compared to February 2025 with 7,206 recorded across the Association region. The highest percentage increase in active listings across the Association region was recorded for another consecutive month in the North Okanagan with a total increase of 4.2% compared to February last year.

“After a sluggish start to the year in January, sales seemed to return to a more normal pace last month. Although we’re still sitting just below average levels, momentum is building and heading in the right direction,” says Association of Interior REALTORS® President Kadin Rainville, adding that “demand hasn’t disappeared, and with more listings coming online, we may just be seeing a natural lag between renewed interest and finalized sales.”

In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw decreases last month in the Central and South Okanagan in year-over-year comparisons of 0.9% and 5.7% respectively, coming in at $1,056,600 and 691,900. The townhome housing category recorded the Central and South Okanagan as the only sub-regions that saw a decrease of 8.1% and 6.0% compared to the same time the previous year, coming in at $671,300 and $483,200 respectively. The benchmark price in the condominium housing category saw decreases in all regions compared to February 2025 with the exception of the South Okanagan that saw an increase of 1.4%, coming in at $410,400.

Given the high stakes on such a significant financial transaction, home sellers and buyers can benefit from the knowledge and skills of a practiced REALTOR®. Contact your local REALTOR® Mark Nichiporuk to find out more about the real estate market and how I can help you achieve your real estate goals.

 
 

British Columbia Report

Market Activity Flounders Througout the Province
 

Vancouver, BC – March 12, 2026. The British Columbia Real Estate Association (BCREA) reports that 4,516 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in February 2026, down 9.7 per cent from February 2025. The average MLS® residential price in BC in February 2026 was down 2.9 per cent at $932,243 compared to $960,572 in February 2025.

chart

Total MLS® residential sales dollar volume was $4.21 billion, down 12.3 per cent from the same time the previous year. BC MLS® unit sales were 32.87 per cent lower than the ten-year average for the month of February.

“Housing market activity continues to struggle, with sales declining from every region in the province compared to the same time last year,” said BCREA Chief Economist Brendon Ogmundson. “We hope that improved affordability conditions in most regions and stable rates will motivate prospective demand to enter the market and drive stronger sales activity over the rest of the year.”

Year-to-date, BC residential sales dollar volume is down 17.8 per cent to $7.3 billion, compared with the same period in 2025. Residential unit sales are down 15.8 per cent year-over-year at 7,832 units, while the average MLS® residential price is also down 2.4 per cent to $929,323.

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Thinking of Downsizing - PART IV

Selling in 2027: What Downsizers Can Do Now to Make the Transition Easier Later

Selling in 2027 doesn’t mean waiting until 2027 to act. The most confident downsizers use the years leading up to their sale to make thoughtful, low-stress decisions.

Focus on flexibility, not rigid timelines

Instead of locking yourself into a date, focus on understanding:

  • Which housing types suit you best
  • What resale looks like for condos and townhomes
  • Which Vernon neighbourhoods align with your lifestyle

Flexibility gives you control when opportunity appears.

Reduce future friction, one step at a time

Small steps now make a big difference later:

  • Simplify possessions gradually
  • Organize important documents
  • Maintain your home consistently

This protects your energy — not just your finances.

Storage deserves its own strategy

One of the most common regrets I hear from downsizers is:

“I didn’t realize how much I’d miss having easy access to my things.”

Before you move:

  • Inventory your gear honestly
  • Decide what must stay close
  • Choose housing that supports your lifestyle, not fights it

Whether it’s bikes, skis, kayaks, or travel gear, convenient storage often determines long-term satisfaction.

Remember: downsizing is a process

The goal isn’t just to sell a house. It’s to move into a home that feels lighter, easier, and aligned with how you want to live next.

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January Market Snapshot

January Solid in the North Okanagan

Items of Note for January

  • North Okanagan Year-over-Year sales down 1%.  
  • Sales 10% below the 10 Year Average.  
  • North Okanagan on the fence between a Buyer's and Balanced Market 
  • Central Okanagan sales down 16% Year-over-Year and 21% below the 10 Year Average
  • British Columbia residential home sales down 24.4% Year-over-Year and 31% below the 10 Year Average
  • Bank of Canada holds overnight rate at 2.25%

A Promising Start to the Year in the North Okanagan

2026 is off to a solid start here in the North Okanagan! While many parts of BC saw slower sales in January, our market held remarkably steady. Home sales were down just 1% from last year and sit about 10% below the 10-year average — much stronger than the provincial picture, where sales dropped more than 24% and 31% respectively.

Prices remained fairly steady. The median sale price rose 8% year-over-year to $680,000, the average price came in at $685,756 - up 3%, while the overall composite benchmark price eased slightly. 

With interest rates holding steady, the North Okanagan continues to show resilience and stability.  All in all, a fairly solid kickoff to the year!


Sales

North Okanagan Unit Sales were down 1% Year-over-Year (79 vs 80) and come in 10% below the 10 Year Average.  





 



Median Sales Price

  • Median Selling Price was $680,000, which was up 8% Year-over-Year ($628,750), and also up from Dec ($638,000). 


Average Sales Price
  • Average Selling Price was $685,756, which is up 3% Year-over-Year ($668,100), but down from Dec ($770,635).

     




Benchmark Price

  • Single Family Home Benchmark price is $745,200, which is down 1.7% Year-Over-Year and down from Dec ($753,900)
  • Townhome Benchmark price is $504,900, which down 3.1% Year-over-Year and down from Dec ($556,500).
  • Condo Benchmark price is $324,800, which is down 2% Year-over-Year but up from Dec ($302,700). 
  • The Overall Composite Benchmark Price for the North Okanagan was down 1.4% Year-over-Year ($636,900 vs $645,900) and down from Dec ($653,500).







Composite Benchmark Selling Price for the North Okanagan since March 2020. 






New Listings hitting the market were down 15% Year-over-Year (176 vs 207) which is about 7% above the 10-Year average (165).  



Active Listings are unchanged Year-over-Year (676 vs 677), which puts the North Okanagan about 14% above the 10 year average (593) for the month of January.

 






The overall North Okanagan market downgraded from a balanced market to straddling the fence between a Balanced Market and a Buyer's Market.

The Sales to Active Listings ratio is 11.6% (down from 14% in Dec). 
Between 12-25% is considered a Balanced Market.

The Sales to New Listing ratio is 45% (down from 86% in Dec). 
Between 40-60% is considered a Balanced Market but ratios skew higher in the winter months when the number of new listings hitting the market are low.  

Days to Sell Average is 83 days.  This is up slightly Year-over-Year (82) and up from December (81).


 

Central Okanagan


Unit Sales in the Central Okanagan for January were down 16% Year-over-Year (203 vs 241), which is 21% below the 10 Year Average of 257.  
 

Benchmark Price 

  • Single Family homes price $1,060,300 which is basically unchanged Year-over-Year and up from December ($1,045,700)
  • Townhome price $678,400 which is down 8.7% Year-over-Year but up slightly from December ($675,700)
  • Condo price is $504,600 which is down 1.6% Year-over-Year but up from December ($470,600)
  • The Overall Composite Benchmark Price for the Central Okanagan was down 1% Year-over-Year ($791,000 vs $799,700) but up from December ($773,300)
The chart below shows the Composite Benchmark Price for the Central Okanagan since March 2020.




December saw 767 New Listings hit the market, which is down 13% Year-over-Year (885) and 26% above the 10-Year Average of 607.

And the 2323 current Active Listings is down 4% Year-over-Year (2414) and is 38% above the 10-year average of 1689.

With a Sales to Active Listings ratio of 9% and Sales to New Listings ratio of 26% the Central Okanagan continues to be in a Buyer's Market.  


For the full report click here

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Thinking of Downsizing - Part III

Selling in 2027: Why Downsizers in the North Okanagan Benefit From Thinking Ahead

If your goal is to sell in 2027, you’re already ahead of the curve just by thinking about it now.

The smoothest, least stressful sales are rarely rushed. They’re planned.

Market cycles matter — especially locally

The Vernon and North Okanagan market shifts with interest rates, inventory levels, and buyer demand. Planning ahead allows you to:

  • Watch trends instead of reacting to them
  • Adjust timing if conditions change
  • Avoid selling under pressure

When you’re informed early, you get to choose when to act — not feel forced.

Equity planning is central for downsizers

For many homeowners, the family home represents decades of equity. Early planning helps you:

  • Estimate realistic net proceeds
  • Compare buying vs renting
  • Decide whether to sell first or buy first

Clarity reduces anxiety and makes the next step feel achievable.

Storage and lifestyle planning belong here too

Many people don’t think about storage until after they’ve sold — and that’s often when regret sets in.

Ask yourself now:

  • Will my future home fit the lifestyle I want to keep?
  • Do I want easy access to my gear, or am I okay with downsizing hobbies?
  • Would a storage unit add ongoing cost and inconvenience?

These questions shape better decisions — long before you list.

Think about future you

Health, energy, and mobility change. Planning early lets you:

  • Move once instead of multiple times
  • Choose a home that works long-term
  • Reduce physical and emotional stress
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Thinking of Downsizing in 2026 - Part II

Downsizing in 2026: How to Prepare Your Home Without Overdoing It

If 2026 is your target year to downsize, preparation is your biggest advantage. What you do before you list often has a greater impact on your outcome than what you do once the sign goes up.

The biggest mistake downsizers make? Waiting too long to prepare — then feeling rushed.

Declutter early, but with intention

Start where buyers won’t see — and where stress quietly builds:

  • Garages
  • Storage rooms
  • Spare bedrooms
  • Filing cabinets and paperwork

This isn’t about purging everything. It’s about identifying what truly needs to come with you — especially items tied to your lifestyle.

Decide what’s worth keeping close

This is the moment to separate:

  • Daily-use items
  • Seasonal gear you actively enjoy
  • “Just in case” items that haven’t been used in years

If you ski every winter, bike weekly, or paddle all summer, you’ll want a future home that accommodates that without friction. If you travel all winter, your storage needs will look very different.

Downsizing works best when your next home supports your life — not when it forces constant compromises.

Focus on updates that buyers actually value

You don’t need a full renovation. In Vernon’s established neighbourhoods, buyers respond best to:

  • Fresh, neutral paint
  • Updated or well-maintained flooring
  • Good lighting
  • Minor repairs completed

Homes that feel clean, bright, and well cared for consistently outperform those that feel dated or deferred.

Get a planning conversation early

A no-pressure review 12–18 months out helps you:

  • Decide what updates are worth doing
  • Avoid unnecessary spending
  • Time your sale more confidently

Preparation creates options — and options create leverage.

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