CENTRAL OKANAGAN MARKET SUMMARY

October & November 2025

Sources: October 2025 Data Release Okanagan, Shuswap & Revels… and November 2025 Data Release Okanagan, Shuswap & Revels…

1. High-Level Month-to-Month Movement (Kelowna / Central Okanagan)

Sales dropped sharply from October to November.

• October: 350 sales
• November: 275 sales
• Change: -21% MoM
  (Seasonal slowdown + persistent rate sensitivity)

Active listings barely moved, but new listings fell hard.

• Active listings:
  • October: 3,021
  • November: 2,747
• New listings:
  • October: 817
  • November: 555 (-32%)

Dollar volume declined MoM, but YoY remained slightly up.

• October: $327.8M
• November: $234M

The takeaway: Supply tightened heading into winter, and buyers were more cautious.

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2. Market Tone & Trend Summary for Client Conversations

General Trends

• The market is slower but not collapsing. Volumes are down seasonally, but prices are stable.
• Benchmark prices across all product types barely moved month-to-month, showing stability, not erosion.
• Inventory dropped into November, which supports prices and reduces fear of oversupply.
• Days on market increased across many segments—buyers have time, sellers must price correctly.

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3. Price Trends by Property Type (Kelowna / Central Okanagan)

Single-Family Homes

• October Benchmark: $1,042,900 Okanagan, Shuswap & Revels…
• November Benchmark: $1,021,000 Okanagan, Shuswap & Revels…
• Movement: -2.1% MoM → essentially flat.

Townhouses

• October Benchmark: $763,700 Okanagan, Shuswap & Revels…
• November Benchmark: $739,400 Okanagan, Shuswap & Revels…
• Movement: -3.2% MoM → moderate softening.

Condos / Apartments

• October Benchmark: $754,700 Okanagan, Shuswap & Revels…
• November Benchmark: $716,300 Okanagan, Shuswap & Revels…
• Movement: -5.1% MoM → condos softened fastest.

Client message:
The condo and townhouse segments are the most price-sensitive right now. Single-family homes have held up better despite slowing sales.

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4. Sales Activity by Property Type

Sales dropped across the board into November.(Central Okanagan values sourced from both PDFs.)Client message:
Lower sales are seasonal, but the drop in new listings means buyers have fewer options—not a free-fall market.

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5. Inventory & Days on Market

Client takeaway:
Homes are sitting longer, especially condos. Sellers need sharp pricing and patience.

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6. Notable Neighbourhood Patterns (Kelowna)

A few standouts from the detailed regional breakdowns:

Areas with Strength in November

• Lower Mission:
  • 8 single-family sales, benchmark +1% YoY, townhouse and condo activity strong. Okanagan, Shuswap & Revels…
• Glenmore:
  • Solid activity across SF, townhouse, and condo categories.
• Upper Mission:
  • Benchmark +9% YoY even though sales volume lower.
• Wilden:
  • Strong SF benchmark (+1.2% YoY).

Areas showing weakness

• Kelowna North & South condos:
  • Sales down sharply YoY.
• Rutland (townhomes especially):
  • Big YoY drops in sales activity.

Price Stability Across Most Areas

Even neighbourhoods with lower sales maintained small positive or mildly negative benchmark shifts—no area showed significant price drops month-to-month.

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7. Broad Interpretation for Buyers & Sellers

For Buyers

• More negotiating room due to longer DOM.
• Still not a distressed market—don’t expect major price collapses.
• Best value right now: condos and townhouses (most downward pressure).

For Sellers

• Pricing discipline matters.
• Homes in strong school-oriented neighbourhoods (Lower Mission / Glenmore) are still moving.
• Proper staging + pricing = key, as activity is slower but inventory also dropped.

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8. Overall Message to Clients

The Central Okanagan entered the winter market with lower sales, fewer new listings, and stable but slightly softening prices. Single-family pricing remains resilient, condos are the most sensitive, and inventory tightening prevents any major pricing decline. It’s a balanced but slow market that rewards realistic pricing and patient buyers.