Stock photo (ID 14115451 © Stephen Mcsweeny | Dreamstime.com)

By Liam Verster

Housing Market Update

North Okanagan townhouse prices drop, other homes see slight gains

Jun 4, 2025 | 4:00 PM

The North Okanagan saw a bit of fluctuation to its housing market in the latest reporting month.

The Association of Interior Realtors stated the benchmark price for single family homes in the region rose by 0.8 per cent on an annual basis to $771,300 in May. Apartment and condominium prices also climbed 0.2 per cent during that period to $325,800.

However, townhouse prices declined by 4.2 per cent to $567,000 last month.

The Association report stated 161 units were sold in the North Okanagan this past May, down 12 per cent from the sales recorded the same month the year before. Those sales were valued at over $118 million, which was down 11.6 per cent annually.

Meanwhile, the Central Okanagan saw benchmark prices for all housing types increase on an annual basis this May.

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Single family homes in the region went up 1.4 per cent to a $1,030,400; townhouse prices rose 2.9 per cent to $745,200; and condo and apartment prices increased 0.8 per cent to $511,800.

The Central Okanagan also saw 450 units sold in May, up 3.2 per cent on an annual basis. Those sales were valued at over $393 million, marking an 11.4 per cent increase from May of 2024.

In total, there were 1,482 units sold throughout the Interior in May, down 4.0 per cent from the same month the previous year.

“Market activity remains slightly subdued compared to historical norms, yet steady,” Association President, Kadin Rainville, said.

“Economic uncertainty continues to be a key factor influencing market activity — either driving momentum or dampening engagement, depending on local conditions.”

In the North Okanagan, there were 1,100 active listings in May, 397 of which were new listings. The active listings were up annually by 3.6 per cent, though new listings did decline by 3.9 per cent.

In the Central Okanagan, the Association reported 3,473 active and 1,211 new listings. Active listings were up 9.2 per cent for the region, though new listings were down by 3.1 per cent.

Rainville noted listing volumes in the Interior were increasing but are “still lagging behind typical seasonal levels,” which he claimed was “contributing to a more balanced market overall.”