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

By Liam Verster

Housing Market Update

Local housing prices decline as sales slow

Dec 3, 2025 | 4:32 PM

The North Okanagan housing market saw a bit of a slow down last month with one realtor saying the decline was more than usual for this time of year.

The Association of Interior Realtors says there were 107 units sold in the latest reporting month, which was down 10.2 per cent from the sales recorded in November of 2024.

The Association (AoIR) stated there were 825 active listings in the North Okanagan in November, which was up 10.9 per cent on an annual basis.

The region also saw prices decline for most housing types in the North Okanagan in November.

The AoIR said the benchmark prices for single family homes in the North Okanagan was recorded at $739,400, while townhouse prices were $557,600. Those were down 2.9 and 6.9 per cent, respectively, compared to the same month the year before.

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However, the North Okanagan did see condominium and apartment prices rise annually by 1.2 per cent to $309,800 in November.

The North Okanagan saw the largest gains in new listings in any region of the Southern Interior in November.

The Central Okanagan also saw a similar trend in the latest AoIR report.

The agency said the Central Okanagan saw 275 units sold last month, down 6.6 per cent annually, while active listings rose 0.6 per cent to 2,747.

The Central Okanagan did see single family home prices decline 2.1 per cent to $1,021,000. However, the benchmark prices for townhouses rose 3.6 per cent to $752,800, and condo and apartment prices rose 3.0 per cent to $486,700.

Though the area housing markets saw declines in the latest reporting month, the agency said that was not much of a surprise.

“It’s common for real estate activity to ease as the holiday season nears, but November tapped the brakes a little harder than usual” AoIR President, Kadin Rainville, stated, adding that seemed to be a theme seen across the province during the latest reporting month.

“With many buyers and sellers focused on seasonal plans, the market continues to move, but at more of a casual stroll rather than its typical seasonal pace. However, buyers and sellers remain engaged with relatively healthy inventory levels that will provide a strong foundation heading into the new year.”