AIR’s report stated the benchmark prices last month were $716,500 for a single-family home, $552,300 for townhouses, and $332,500 for a condominium or apartment.

The benchmark prices for single-family homes and townhouses were down by 3.4 per cent and 1.2 per cent, respectively, on an annual basis. Condo and apartment prices however were up 3.9 per cent on a year-over-year basis.

Image credit: Association of Interior Realtors

Across the Interior, there were 977 residential unit sales recorded in March.

That total was above the 810 units sold in February, but still down 22 per cent from the 1,192 sales in March of 2023.

“Despite a relatively strong start in March, sales activity tapered off about mid-way through as spring break and Easter plans likely had buyers and sellers preoccupied,” Association of Interior Realtors President, Kaytee Sharun, said.

“It isn’t surprising given that March is typically a staggered month when it comes to market activity.”

Overall listings rose on an annual basis last month, with Sharun stating those should translate to a “busy summer season.”

AIR’s data also showed that the benchmark prices for single family homes fell in the Central Okanagan and Shuswap/Revelstoke, and that prices for townhomes fell in every area aside from the Central Okanagan.

The South Okanagan was the only area in the Interior that saw prices for condos and apartments decline on an annual basis.

by Liam Verster

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