North Okanagan single-family homes lost their Seller’s Market status in August, with absorption falling from 22.58% in July to 15.38% — ending a two-month run that had been the strongest reading either region produced all year.
Central Okanagan cooled just as hard on paper: sales volume dropped 33% month-over-month and days to sell stretched to 78, the slowest pace in the two months of data on hand.
Both regions eased off the summer’s momentum, but August’s slowdown was broader than July’s, touching more property types across the board.
Central Okanagan Overview
Central Okanagan’s August numbers show a market pulling back on nearly every front — not just unit sales, but the pace and price momentum that carried the summer.
Every major property type’s absorption rate now sits at or below the Balanced threshold, a shift from July when all three segments were comfortably Balanced.
Market Statistics
- New Listings: 838, down 18.88% from 1,033 in August 2025
- Units Sold: 362, down 5.24% from 382 last year
- Sales Volume: $276,870,718, down 9.38% from $305,513,375
- List/Sell Ratio: 96.05%, compared to 95.83% last year
- Days to Sell: 78 days on average, up from 65 in August 2025
- Active Listings: 3,953, down 8.81% from 4,335 last year
By Property Type:
- Single Family Homes: 142 sold | avg. $1,049,811 | median $925,166 | 60 days to sell
- Condos & Apartments: 96 sold | avg. $475,971 | median $413,500 | 79 days to sell
- Townhouses: 42 sold | avg. $678,186 | median $615,000 | 64 days to sell
Analysis: Central Okanagan closed 362 sales worth $276.9 million in August — down 5.24% in units and 9.38% in dollars against August 2025.
Unlike July, where luxury and lakefront sales pushed dollar volume up even as unit sales fell, average sale price this month slipped to $808,977, down 0.91% year-over-year, while the median dropped 5.19% to $685,000.
Lakefront single-family sales fell to just 6 for the month, down from 13 in July, so the high-end activity that had propped up the average lost most of its lift.
Single-family sales fell 9.55% year-over-year to 142 — the steepest single-family decline of the two months on record here — with the median down 2.61% to $925,166 and days to sell slipping to 60.
Inventory fell 18.57% year-over-year to 1,219, so this reads as a demand pullback rather than a supply glut.
Condos held up best of the three segments, with sales down just 4.95% year-over-year.
Townhouses had the roughest month, with sales down 40% month-over-month and absorption dropping to a Buyer’s Market reading of 10.00%, a sharp reversal from July’s 16.75% Balanced figure.
Absorption Rate:
Central Okanagan sold 362 units against 3,953 active listings in August, an absorption rate of 9.16% — roughly 10.9 months of supply.
That’s down from July’s 11.63% and now solidly inside Buyer’s Market territory.
For the first time in the two months on hand, the segments match: single-family at 11.65% and townhouses at 10.00% are both Buyer’s Market, while condos at 12.23% are just barely inside Balanced.
North Okanagan Overview
North Okanagan’s August numbers ended the two-month Seller’s Market streak in single-family homes that had defined the region since June, while sales, dollar volume, and days to sell all continued to soften across nearly every segment.
Market Statistics
- New Listings: 270, down 20.59% from 340 in August 2025
- Units Sold: 135, down 26.63% from 184 last year
- Sales Volume: $86,417,046, down 37.09% from $137,367,373
- List/Sell Ratio: 94.33%, compared to 96.19% last year
- Days to Sell: 94 days on average, up from 76 in August 2025
- Active Listings: 1,496, down 8.50% from 1,635 last year
By Property Type:
- Single Family Homes: 60 sold | avg. $790,383 | median $754,000 | 69 days to sell
- Condos & Apartments: 12 sold | avg. $299,917 | median $301,950 | 127 days to sell
- Townhouses: 13 sold | avg. $497,508 | median $495,000 | 47 days to sell
Analysis: North Okanagan sold 135 units for $86.4 million in August, down 26.63% in units and 37.09% in dollars year-over-year — the steepest year-over-year decline either region has posted in the two months of data on hand.
Average sale price fell to $644,903, down 13.62% year-over-year, and the median dropped 2.41% to $607,000.
Single-family is the headline again, this time for the opposite reason as July.
Sales fell 28.57% year-over-year to 60, but sales contracted faster than listings did, so absorption dropped to 15.38%, a Balanced reading, down from July’s 22.58% Seller’s Market.
The median actually rose 5.09% month-over-month to $754,000. Pricing hasn’t cracked, but the region’s only sustained Seller’s Market run this year is over.
Condos improved from July’s collapse, with sales up 33.33% month-over-month, though days to sell stretched to 127 from 62.
Townhouses saw days to sell improve sharply to 47, the fastest reading of any segment in either region this month.
Absorption Rate:
North Okanagan sold 135 units against 1,496 active listings in August, an absorption rate of 9.02% — about 11.1 months of supply.
That’s down from July’s 12.24% and now in Buyer’s Market territory.
By segment, single-family at 15.38% moved from Seller’s Market to Balanced, condos at 11.88% moved closer to Balanced, and townhouses at 9.63% dropped into Buyer’s Market territory.
Every segment eased this month — the difference is where each one landed.
Market Outlook
For Buyers: Central Okanagan is now a Buyer’s Market at the zone level and in two of three major property types. North Okanagan single-family buyers finally have more room too, though the segment hasn’t crossed into outright Buyer’s territory. North condo buyers should note that days to sell more than doubled to 127 — real room to negotiate on timeline.
For Sellers: Central’s list-to-sell ratio held at 96.05%, but days to sell jumping to 78 means pricing accurately matters more than last month. North Okanagan sellers face the tougher conversation — the slowest days-to-sell reading of the two months on hand, and single-family sellers no longer hold the leverage they had in June and July.
For Investors: North Okanagan single-family remains the value play at a $754,000 median, and its fall from Seller’s to Balanced status makes it a more approachable entry point without signaling a collapsing market. Central Okanagan townhouses look like the most negotiable segment in either region right now.
Conclusion
August 2026 marked a clear step down for both regions after a comparatively resilient July.
The number that stands out most is North Okanagan single-family absorption falling out of Seller’s Market territory, down from 22.58% to 15.38%, ending the region’s only sustained run of seller leverage this year.
Inventory keeps contracting in both regions, but August made clear that shrinking supply alone wasn’t enough to keep absorption rates from easing across nearly every segment.
If you’re thinking about buying or selling in the Central or North Okanagan, I’m happy to walk through what these numbers mean for your specific situation.
Stephanie
Okanagan Properties Group | eXp Realty
778-692-0705
Source: Association of Interior REALTORS® — August 2026 Monthly Statistics Reports.