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 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)

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