The Okanagan housing market opened 2026 in line with historical seasonal trends, as activity across both the Central and North Okanagan eased following the holiday period. January is traditionally the slowest month of the year for real estate, and this year followed that pattern. While transaction counts were lower year-over-year, overall market conditions remained stable, with inventory levels relatively balanced and pricing holding firm across most property categories.
Central Okanagan Overview
January 2026 in the Central Okanagan reflected a measured start to the year. Compared to January 2025, both listing activity and completed sales declined, consistent with typical winter market behaviour as buyers and sellers move cautiously after the holidays.
Market Statistics
New Listings: 894 properties entered the market, down 15.98% from 1,064 in January 2025.
Units Sold: 226 sales were recorded, a 16.91% decrease from 272 last year.
Sales Volume: $184,473,565, representing a 12.69% decline from $211,278,654.
List-to-Sell Ratio: 90.37% (down from 92.93%).
Days to Sell: 92 days on average, nearly unchanged from 91 days last year.
Active Listings: 3,109 properties available, a 3.95% decrease from 3,237.
By Property Type:
Single-Family Homes (excluding lakefront/acreages):
91 sales | Avg. $1,036,503 | Median $945,000 | 940 active listings
Condos & Apartments:
55 sales | Avg. $501,550 | Median $410,000 | 685 active listings
Townhomes:
36 sales | Avg. $730,581 | Median $661,250 | 314 active listings
Analysis: Sales activity was down 16.91% year-over-year, and total dollar volume declined 12.69%, reflecting slower seasonal demand. The reduced list-to-sale ratio suggests buyers were negotiating more aggressively. However, stable days-on-market figures and declining inventory indicate sellers are also proceeding carefully rather than flooding the market.
Absorption Rate:
With 226 sales and 3,109 active listings, the absorption rate sits at approximately 7.27%, equal to about 13.8 months of inventory, confirming Buyer’s Market conditions typical of winter.
North Okanagan Overview
The North Okanagan showed relative resilience to begin 2026. While sales numbers declined modestly year-over-year, overall dollar volume remained steady, demonstrating ongoing demand for higher-value properties despite seasonal headwinds.
Market Statistics
New Listings: 215 properties, down 17.31% from 260.
Units Sold: 83 transactions, a 7.78% decrease from 90.
Sales Volume: $56,622,699, up slightly by 0.37% from $56,413,856.
List-to-Sell Ratio: 95.61% (down from 96.80%).
Days to Sell: 85 days, improved from 89.
Active Listings: 1,078 properties, up 0.47% from 1,073.
By Property Type:
Single-Family Homes:
35 sales | Avg. $737,580 | Median $730,000 | 264 active listings
Condos & Apartments:
11 sales | Avg. $301,491 | Median $307,000 | 78 active listings
Townhomes:
9 sales | Avg. $485,000 | Median $527,000 | 100 active listings
Analysis: Although unit sales declined 7.78%, total sales value edged up 0.37%, indicating continued movement in higher-priced segments. Improved selling times and stable pricing reflect efficiency and steady buyer engagement. Inventory growth was minimal, pointing to a balanced supply entering 2026.
Absorption Rate: With 83 sales against 1,078 listings, the absorption rate is approximately 7.70%, or 13.0 months of supply, reinforcing Buyer’s Market conditions with seasonal characteristics.
Month-to-Month Comparison (Dec 2025 vs. Jan 2026)
Central Okanagan:
New Listings ↑ 101.35% (444 → 894)
Units Sold ↓ 15.36% (267 → 226)
Sales Volume ↓ 19.95% ($230.5M → $184.5M)
Days to Sell ↑ 83 → 92
Active Listings ↓ 1.27%
North Okanagan:
New Listings ↑ 43.33% (150 → 215)
Units Sold ↓ 25.23% (111 → 83)
Sales Volume ↓ 31.63%
Days to Sell ↓ 98 → 85
Active Listings ↓ 5.69%
The month-over-month decline in sales activity is consistent with typical January patterns following December’s year-end push.
Market Outlook
For Buyers: Current conditions favour purchasers. With absorption rates clearly in Buyer’s Market territory, buyers benefit from reduced competition and stronger negotiating leverage. Acting before the traditional spring surge may offer better value and flexibility.
For Sellers: Winter requires strategic positioning. Competitive pricing and strong presentation remain essential to capture the smaller pool of active buyers. Patience and proper marketing will be key in this seasonal environment.
For Investors: Lower transaction volume often creates opportunity. Stable pricing and improved selling times in the North Okanagan indicate underlying strength. Investors prepared to act in a quieter market may benefit from motivated sellers and reduced bidding pressure.
Conclusion:
January 2026 followed expected seasonal patterns across the Okanagan. The Central Okanagan recorded a 16.91% drop in sales and a 12.69% reduction in dollar volume year-over-year, while the North Okanagan experienced a smaller 7.78% decline in sales with overall volume essentially unchanged. Both regions remain in Buyer’s Market territory, with elevated months of inventory typical for winter.
As the first quarter progresses, gradual increases in activity are anticipated heading into spring, positioning the market for a potentially stronger seasonal rebound.