Association of Interior REALTORS® - Okanagan

Residential real estate sales saw a healthy dose of normal activity after sluggish summer start, reports the Association of Interior REALTORS® (the Association).

A total of 1,534 residential unit sales were recorded across the Association region in July, coming in above June’s 1,494 units and up 9.6% compared to units sold in July last year.

New residential listings saw a 0.8% increase compared to July 2024 with 2,920 new listings recorded last month. The total number of active listings saw a 2.3% increase in inventory compared to July 2024 with 10,443 recorded across the Association region. The highest percentage increase in active listings across the Association region was in North Okanagan with a total increase of 6.5% compared to the same month last year.

“For the second month in a row, market activity continues to trend in a positive direction, even with stabilized inventory momentum,” says Association of Interior REALTORS® President Kadin Rainville, adding that “we’re entering a more typical summer rhythm, which suggests the market is starting to recover from the turbulence caused by tariffs earlier this year.”

In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw increases last month in all sub-regions in year-over-year comparisons with the exception of the South Okanagan region, which saw a 2.0% decrease, coming in at $754,500. The townhome housing category saw benchmark price decreases in the Shuswap/Revelstoke, Central and South Okanagan, while the North Okanagan saw a minor increase of 0.3% compared to July 2024, coming in at $522,700. The benchmark pricing in the condominium housing category recorded the South Okanagan being the only region that saw a decrease of 2.3% compared to the same time last year, coming in at $435,100.

“Little to no major movement in price shifts reflects a broader trend toward market recovery. In this environment, accurately priced homes continue to perform well, while those that exceed current thresholds are increasingly likely to lag in buyer interest,” notes Rainville.

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® to find out more about the real estate market and how they can help you achieve your real estate goals.