The Okanagan real estate market ended 2025 on a strong note, with both the Central and North Okanagan posting year-over-year gains in total sales value. Despite the traditionally quiet December market, both subregions demonstrated stability and resilience as the year closed.
Central Okanagan Overview
December figures for the Central Okanagan indicate a balanced yet slightly softer market. While the number of homes sold dipped slightly, higher-value sales helped lift overall transaction volume. The region continued to see strength in the upper end of the market.
Market Statistics
New Listings: 444 (↑8.03% from 411 in Dec 2024)
Units Sold: 267 (↓2.91% from 275)
Sales Volume: $230.47M (↑11.79% from $206.15M)
List-to-Sell Ratio: 93.44% (↓ from 95.69%)
Average Days on Market: 83 (↑ from 77)
Active Listings: 3,149 (↑0.67% from 3,128)
By Property Type:
Single-Family Homes (non-lakefront/acreage):
119 sales | Avg. Price: $1,094,256 | Median: $895,000 | Inventory: 954
Condos & Apartments:
48 sales | Avg. Price: $470,671 | Median: $398,750 | Inventory: 687
Townhomes:
44 sales | Avg. Price: $641,177 | Median: $622,500 | Inventory: 326
Analysis: Although unit sales edged down, the 11.79% jump in sales volume highlights the presence of higher-value purchases. Inventory remained stable, and an increase in new listings suggests some seller optimism heading into 2026. While the average sale price fell slightly below list, the gap remains within normal seasonal range.
Absorption Rate:
With 267 properties sold from an inventory of 3,149, the absorption rate was 8.48%, representing roughly 11.8 months of inventory — consistent with Buyer’s Market conditions.
North Okanagan Overview
In contrast, the North Okanagan saw impressive year-over-year growth, with double-digit increases in both units sold and total sales value, capping off 2025 with strong momentum.
Market Statistics
New Listings: 150 (↓8.54% from 164 in Dec 2024)
Units Sold: 111 (↑19.35% from 93)
Sales Volume: $82.82M (↑10.64% from $74.85M)
List-to-Sell Ratio: 97.81% (↑ from 97.11%)
Average Days on Market: 98 (↓ from 102)
Active Listings: 1,143 (↑9.48% from 1,044)
By Property Type:
Single-Family Homes (non-lakefront/acreage):
44 sales | Avg. Price: $858,036 | Median: $730,000 | Inventory: 279
Condos & Apartments:
8 sales | Avg. Price: $341,219 | Median: $307,375 | Inventory: 78
Townhomes:
16 sales | Avg. Price: $486,469 | Median: $437,500 | Inventory: 100
Analysis: Sales activity and value surged compared to the previous December. The uptick in absorption and shortened days on market indicate active buyers and sustained demand despite increased inventory. With sellers achieving nearly full asking prices, conditions remained competitive and healthy through year-end.
Absorption Rate: 111 properties sold out of 1,143 available gives an absorption rate of 9.71%, or around 10.3 months of inventory — again, signalling a Buyer’s Market but with strong seasonal activity.
Month-to-Month Comparison (Nov vs. Dec 2025)
Central Okanagan:
New Listings: ↓32.73% (660 → 444)
Units Sold: ↓11.59% (302 → 267)
Sales Volume: ↓8.63% ($252.86M → $230.47M)
Days to Sell: ↑ (78 → 83)
Active Listings: ↓12.80% (3,611 → 3,149)
North Okanagan:
New Listings: ↓29.58% (213 → 150)
Units Sold: ↓9.76% (123 → 111)
Sales Volume: ↑4.41% ($79.33M → $82.82M)
Days to Sell: ↑ (89 → 98)
Active Listings: ↓12.68% (1,309 → 1,143)
Market Outlook
For Buyers: With elevated inventory levels and less competition, December offered excellent opportunities for negotiation. Both markets remain buyer-friendly based on current absorption rates, and winter typically allows for more flexibility and time to purchase strategically.
For Sellers: Although December is usually slower, strong annual gains in sales volume suggest that buyers remain active for well-positioned and properly priced listings. Sellers willing to price competitively and present their homes effectively can still achieve solid results.
For Investors: December’s performance capped off a strong year for the region. Year-to-date:
Central Okanagan: Sales ↑6.95%, Sales Volume ↑13.28%
North Okanagan: Sales ↑12.74%, Sales Volume ↑9.68%
These gains highlight the market’s durability and attractiveness for long-term investment.
Conclusion:
The Okanagan market ended 2025 with momentum, showing strength despite seasonal headwinds. The Central Okanagan recorded robust sales volume growth driven by high-value purchases, while the North Okanagan posted significant gains in both units sold and price performance. Both regions finished the year with strong annual metrics, maintaining market stability and reflecting continued buyer interest. As we head into 2026, Buyer’s Market conditions remain in place, offering opportunities for those looking to purchase, while sellers can still succeed with the right strategy.