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November Market Snapshot

Okanagan Real Estate Market Show Signs Of Strengthening For Second Straight Month

Items of Note for November:

  • North Okanagan November sales see nice boost - up 17% Year-over-Year (118 vs 101) which is just 13% below the 10 Year Average for Nov (136).
  • Prices remain fairly strong
    • while Median Selling Price and Average Selling Price were down significantly from October they still set all time highs for the month of November.
    • the Composite Benchmark Selling Price up Year-over-Year ($671,500 vs $635,900) and up from October ($651,000). 
  • Central Okanagan sales rebounding for second straight month - up 30% Year-over-Year (298 vs 230).  While still 20% below the 10 Year Average (373) it is a marked improvement over what the Central Okanagan experienced for much of 2024.
  • British Columbia residential home sales up 25.7% Year-over-Year
  • Bank of Canada lowers overnight rate 50 basis points to 3.25%.
 

Sales

North Okanagan Unit Sales were up 17% Year-over-Year (118 vs 101) and were only 13% below the 10 Year average (136).  


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October Market Snapshot

North Okanagan Sales Down Year-Over-Year but Sales Around BC Up.  Is the Market Starting to Turn Around?

North Okanagan Items of Note for October:

  • North Okanagan sales still sluggish - down 7% Year-over-Year (129 vs 139) and 24% below the 10 Year Average for Oct (169).
  • Prices remain fairly strong - Median Selling Price and Average Selling Price set all time highs for the month of October, although Benchmark Selling Price down slightly Year-over-Year. 
  • Central Okanagan sales surge - up 39% Year-over-Year (365 vs 263) and only 16% below the 10 Year Average (435).


Sales

North Okanagan Unit Sales were down 7% Year-over-Year (129 vs 139) and were 24% below the 10 Year average (169).  

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