The Okanagan real estate market showed solid momentum through July 2025, with both the Central and North Okanagan recording strong year-over-year gains in sales activity. The Central Okanagan saw faster sales and a notable rise in unit sales, while the North Okanagan posted a significant jump in overall sales volume. This analysis breaks down the latest data for both regions and examines current trends.
Central Okanagan Overview
July brought a busier market than the same time last year. Homes sold more quickly, and even with a small month-to-month dip in active listings, inventory remained higher than in 2024, providing buyers with a broad range of choices.
Market Statistics
New Listings: 1,184 (↑ 0.85% YoY)
Units Sold: 482 (↑ 10.80% YoY)
Sales Volume: $365.65M (↑ 0.25% YoY)
List-to-Sell Ratio: 96.52% (steady YoY)
Days to Sell: 55 days (improved from 68 last year)
Active Listings: 4,481 (↑ 5.93% YoY)
By Property Type:
Single-Family Homes: 198 sales; avg. $1,053,775; median $919,750; 1,560 listings.
Condos/Apartments: 115 sales; avg. $491,058; median $437,000; 958 listings.
Townhouses: 61 sales; avg. $705,256; median $660,000; 433 listings.
Analysis: The drop in selling time by nearly two weeks, paired with double-digit growth in units sold, highlights robust demand. Inventory growth has kept conditions balanced, while stable pricing signals steady market confidence.
Absorption Rate: 10.76%, indicating a balanced environment with opportunities for both buyers and sellers.
North Okanagan Overview
The North Okanagan posted substantial increases in both units sold and total sales value. Homes moved more quickly than last year, and the inventory base grew, accommodating increased buyer activity.
Market Statistics
New Listings: 391 (↑ 8.31% YoY)
Units Sold: 194 (↑ 19.02% YoY)
Sales Volume: $132.14M (↑ 26.35% YoY)
List-to-Sell Ratio: 96.92% (↑ from 96.37% YoY)
Days to Sell: 65 days (improved from 72 last year)
Active Listings: 1,653 (↑ 5.96% YoY)
By Property Type:
Single-Family Homes: 86 sales; avg. $801,409; median $734,650; 531 listings.
Condos/Apartments: 11 sales; avg. $323,195; median $269,000; 83 listings.
Townhouses: 29 sales; avg. $472,922; median $453,000; 143 listings.
Analysis: Gains in sales value outpaced unit growth, reflecting strength in higher-end transactions. Improved list-to-sell ratios and reduced selling times indicate strong interest in well-priced homes.
Absorption Rate: 11.74%, suggesting a balanced market leaning slightly toward sellers.
Month-to-Month Comparison (June vs. July 2025)
Central Okanagan:
New listings ↓ 8.22% (1,290 → 1,184)
Units sold ↑ 5.24% (458 → 482)
Sales volume ↓ 4.49% ($382.84M → $365.65M)
Days to sell improved (60 → 55)
Active listings ↓ 0.99% (4,526 → 4,481)
North Okanagan:
New listings ↓ 8.22% (426 → 391)
Units sold ↓ 1.52% (197 → 194)
Sales volume steady (↑ 0.17%)
Days to sell improved (67 → 65)
Active listings ↓ 1.14% (1,672 → 1,653)
Market Outlook
Buyers: More inventory than last year offers better selection, but quicker sales mean being ready to move on the right property.
Sellers: Strong demand and reduced days on market are positives, but competitive pricing remains key with healthy supply levels.
Investors: Central Okanagan offers faster turnover opportunities, while the North Okanagan’s sales volume growth points to strong long-term potential.
Conclusion:
July 2025 marked an active mid-summer market across the Okanagan, with both regions seeing faster sales and solid year-over-year gains. Central Okanagan’s strong pace and North Okanagan’s impressive value growth suggest balanced yet competitive conditions for all participants moving into late summer.