December 2025 Market Update

Posted on Dec 05, 2025

OKANAGAN MARKET SUMMARY

October & November 2025

(Source: Interior Realtors monthly data releases)

1. HIGH-LEVEL REGIONAL TRENDS

Sales Activity

  • Sales slowed from October to November across all sub-regions.
    • Central Okanagan: 350 → 275 (-21%)
    • North Okanagan: 150 → 106 (-29%)
    • Shuswap/Revelstoke: 86 → 51 (-41%)
    • South Okanagan: 163 → 113 (-31%)
This is a typical seasonal drop, but the decline is steeper than normal, indicating softer buyer engagement.

Listings & Inventory

  • Active inventory decreased slightly or held flat month-to-month.
    • Central: 3,021 → 2,747
    • North: 919 → 825
    • Shuswap/Revelstoke: 584 → 509
    • South: 1,294 → 1,130
  • New listings dropped sharply in November, particularly Central and South Okanagan.
This creates a tightening effect despite weak sales, preventing major downward price pressure.

Prices (Benchmark)

Across the region:
  • Benchmark prices remained stable or slightly up in most product categories.
  • Single-family remained the most stable, condos the most variable.
  • Year-over-year prices remain mixed, but month-to-month prices are largely flat to mildly positive.

Days on Market

  • Days to sell increased in November—consistent with a slower fall market and more selective buyers.

2. MARKET BY PROPERTY TYPE

Single-Family Homes

Overall: Lower sales, stable pricing, more days on market.
  • Central Okanagan benchmark:
    • Oct: $1,042,900
    • Nov: $1,021,000
  • Decline is minor; the market is holding value despite weaker transaction volume.
Key takeaways for clients:
  • Sellers: Pricing must be sharp; demand is slower but values are not collapsing.
  • Buyers: More leverage due to reduced competition, but no “fire sale” pricing.

Townhouses

Consistent decline in sales but prices holding in most sub-regions.
  • Central benchmark:
    • Oct: $763,700
    • Nov: $716,300
      (Noticeable softening month-to-month)
Townhouses are feeling more price pressure than single-family, likely due to:
  • Higher interest-rate sensitivity
  • More new-build competition in certain pockets

Condo/Apartments

Activity is erratic, especially in Kelowna North/South where condos dominate.
  • Central Condo benchmark:
    • Oct: $697,100
    • Nov: $739,400
Condos show the strongest month-to-month price bump, but with significant drops in sales volume.This suggests:
  • Buyers remain cautious
  • Sellers who achieve a sale are typically well-priced or in desirable locations/amenities

3. SUB-REGIONAL SNAPSHOT (Client-Friendly Talking Points)

CENTRAL OKANAGAN (Kelowna, West Kelowna, Lake Country, Peachland)

Okanagan, Shuswap & Revels…
  • Sales dropped from 350 → 275.
  • New listings down nearly 10% in November.
  • Benchmark prices mostly flat, small declines in townhouses.
  • Condos had strong benchmark performance but softer sales.
  • Lower Mission, Glenmore, & Glenrosa remain consistent performers.
  • Luxury pockets (Upper Mission, Kettle Valley, Wilden) stable but slower.
Message to clients: Balanced but quiet market; motivated sellers are making deals, buyers have more negotiating room but shouldn’t expect steep discounts.

NORTH OKANAGAN (Vernon, Coldstream, Armstrong)

Okanagan, Shuswap & Revels…
  • Sales 150 → 106.
  • Active inventory remains high relative to sales.
  • Benchmark prices extremely steady across all property types.
  • Townhouse and condo sales are very low; some neighbourhoods show 0 sales.
Message to clients: Stable pricing with slower sales—serious buyers can get opportunities, but sellers with good pricing are still moving product.

SHUSWAP & REVELSTOKE

Okanagan, Shuswap & Revels…
  • Sales down 86 → 51.
  • Prices remain relatively stable (most areas ±2–5%).
  • Revelstoke continues to show premium pricing relative to Salmon Arm and rural areas.
  • Many neighbourhoods show zero townhouse/condo transactions, tightening data reliability.
Message to clients: Low volume but firm values; lifestyle markets remain resilient.

SOUTH OKANAGAN (Penticton, Oliver, Osoyoos, Summerland)

Okanagan, Shuswap & Revels…
  • Sales 163 → 113.
  • Benchmark prices for single-family homes show small positive annual growth in many areas.
  • Condo and townhouse markets are slower with inconsistent sales counts.
  • Penticton Main North/South and Osoyoos continue to attract buyers, but at a slower pace.
Message to clients: Market is slower but not distressed; pricing discipline is key.

4. OVERALL MARKET DIRECTION

Short Term (Next 1–3 months)

  • Expect continued low sales through winter.
  • Prices likely remain flat with minor variance.
  • Inventory will shrink further as sellers hold off listing until spring.
  • Buyers benefit from decreased competition; sellers benefit from reduced supply.

Spring Outlook

  • Unless interest rates rise again, expect:
    • More listings
    • More sales volume
    • Modest price recovery in attached product (townhomes/condos)

5. Key Client-Ready Talking Points

For Sellers:

  • Sales are down across the board; pricing aggressively makes the difference.
  • Inventory is tightening, which protects values.
  • Well-presented, well-priced homes are still selling within reasonable timelines.

For Buyers:

  • This is the most favourable environment in months: more negotiation room, slower buyer competition.
  • Prices are stable, so waiting for large declines is unrealistic based on current data.
  • Good opportunities exist in townhouses and some condo sub-markets.

For Investors:

  • Condos show the biggest discount in sales count but the strongest short-term price movement.
  • Rental demand in Kelowna/West Kelowna remains strong; absorption of new supply improving.
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