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)

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.  

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.

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.

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)

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.  

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.

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.