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Central Okanagan Real Estate - 2025 in Review
The Central Okanagan real estate market in 2025 was defined by a period of market stabilization, improved sales activity, and inventory growth compared to 2024. Total sales for the year reached 4,538 units, representing a nearly 7% increase year-over-year, while listings rose modestly by just under 2%. Market momentum sped up in the spring and early summer, peaking between May and July when monthly sales exceeded 450 transactions. Activity cooled in the fall, closing the year with December at 267 sales. Pricing remained relatively stable throughout the year, with list-to-sale price ratios holding close to the +/-95% range, indicating fairly balanced negotiation conditions rather than aggressive price pressure in either direction. Inventory climbed steadily into mid-summer before tightening again toward year-end, reinforcing a market that rewarded well-priced and well-presented listings.
Residential (Single Family Homes)
The residential sector was the main driver of market growth in 2025. Sales increased by nearly 13% year-over-year, with 1,945 homes sold. Activity accelerated rapidly in the spring, peaking in May and June, when monthly sales surpassed 220 units. Average prices fluctuated throughout the year, reaching highs above $1.15M in late spring before coming down slightly in the fall. Despite monthly volatility, the annual average price rose just over 4%, reflecting steady appreciation rather than sharp price escalation. Days on market compressed during peak buying season, dropping into the low-50-day range, before extending again toward year-end as buyer urgency softened and inventory levels declined.
Condos
The condo market experienced a more tempered year, characterized by increased inventory and pricing pressure. Listing inventory rose nearly 6%, whereas total sales declined slightly year-over-year. Sales activity was strongest mid-year, particularly in July when monthly transactions peaked at 115 units. Prices fluctuated throughout the year, with average sale prices reaching their high point in late spring before trending lower into the fall. Median prices ended the year down compared to 2024, reflecting more competition on the market, and a more price-conscious buyer pool. Days on market increased over the year, especially in the second half, signalling a shift toward more buyer leverage, and buyers taking their time within this segment.
Townhomes
Townhomes remained one of the most stable asset classes throughout 2025. Sales increased modestly year-over-year, supported by consistent demand from move-up buyers and downsizers seeking lower maintenance options. Pricing remained resilient, with the annual average price rising nearly 2%. The market saw its strongest performance in late spring and early summer, when sales volume and prices both trended upward. While average prices fluctuated month-to-month, sale-to-list ratios remained strong near 97%, indicating continued competition for well-located and well-priced units. Inventory levels stayed relatively tight, helping insulate this segment from the volatility seen elsewhere.
Mobile Homes
The mobile home segment delivered one of the strongest percentage gains in 2025. Sales rose nearly 16% year-over-year, supported by affordability-driven demand. Prices were volatile month-to-month, with notable spikes in mid-summer and again toward year-end, where average prices exceeded $330,000. Despite these fluctuations, annual average pricing increased just over 4%. Days on market varied significantly throughout the year, reflecting the diverse condition and location of inventory. This segment continued to attract first-time buyers and downsizers priced out of other property types.
Lots
Lot sales remained the smallest but most volatile segment of the market. While sales increased year-over-year, total listings declined sharply, and pricing showed significant swings driven by a small sample size. Average prices dropped substantially on an annual basis, although individual months showed extreme highs tied to premium land sales. Days on market increased materially, underscoring a slower, more selective buyer pool focused on long-term development rather than immediate construction.
Summary
Overall, 2025 marked a year of stabilization and measured growth across the Central Okanagan. Strong spring and summer demand, improving sales volumes, and competitive pricing created a healthier, more balanced market compared to prior years. While affordability pressures remained the top concern in certain segments, particularly condos; - detached homes and townhomes demonstrated resilience, and entry-level categories such as mobile homes gained momentum. The year closed with more inventory and longer selling timelines than the peak months, setting the stage for entering 2026 with greater balance and opportunity on both sides of the transaction.
Impact on Buyers
Buyers are benefiting from increased inventory, longer days on market, and more favourable pricing. With more choice available, purchasers can take the time to conduct proper due diligence, include protective conditions, and negotiate more effectively—particularly in price-sensitive segments such as condos and entry-level homes. Very few multiple-offer scenarios has reduced urgency, allowing buyers to make decisions based on suitability and value rather than speed. That said, well-priced properties in desirable locations are still attracting strong interest, and some receiving multiple offers within the first few days on market, meaning buyers must remain decisive when a property clearly stands out.
Impact on Sellers
For sellers, the market is demanding greater emphasis on pricing accuracy, presentation, and strategic marketing. While prices have remained relatively stable overall, buyers are less forgiving of overpricing, and listings that miss the mark are taking longer to sell or requiring price adjustments. Sellers who align their expectations with current market data—and who invest in proper staging, photography, and exposure—are still achieving strong list-to-sale ratios. Conversely, sellers who rely on previous year's market conditions (peak) are more likely to experience extended selling timelines.
Overall
The net effect is a healthier, more transparent market. Transactions are being driven by chapter changes and basic human needs, rather than urgency, resulting in smoother negotiations and fewer failed deals. For both sides, success in this environment comes down to preparation, realistic expectations, and informed decision-making rather than speculation or timing alone.
Buying or Selling This Year? Curious what all this means for your real estate plans? Whether you’re aiming to get top dollar for your sale or nail the perfect timing for your next purchase, a smart game plan makes all the difference. Just hit reply, call, or text — I’m always up for talking real estate!
See the full Central Okanagan Statistic Market Report below.
In the last 7 days in the Central Okanagan there have been:
181 New Listings
75 Price Reductions
39 Sales
Highest SOLD Price: $2,915,000 - Residential
Lowest SOLD Price: $165,000 - Mobile Home
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