Michael A. Jones – PREC* | Royal LePage Kelowna

May 2025 North Okanagan Real Estate Market Stats

May brought a softer pace to the North Okanagan real estate market. Sales volume and transaction count dipped compared to last year, but prices remained stable across most categories. With inventory slowly building and days to sell improving, the market continues to offer balance for both buyers and sellers.

Overall Market Activity

  • Total Sales: 184 (down 11.96% YoY)
  • Sales Volume: $126.9M (down 14.7% YoY)
  • Active Listings: 1,622 (up 9.2% YoY)
  • List-to-Sell Ratio: 95.61%
  • Average Days to Sell: 69 (down from 75 in April)

Compared to April, total sales were up slightly and homes sold faster on average. The list-to-sell ratio improved marginally, showing that well-priced homes are still moving.

Property Type Breakdown

Single Family Homes (Excludes lakefront and acreages)

  • Sales: 82 (down 10.87% YoY)
  • Average Price: $819,660 (up 0.88% YoY)
  • Median Price: $754,500 (up 2.65% YoY)
  • Days to Sell: 58 (up slightly from 56 in April)

Sales volume softened compared to last year, but pricing held strong. Average price edged up and homes sold in roughly the same timeframe as April, suggesting a healthy but calmer segment.

Condos / Apartments

  • Sales: 15 (down 31.8% YoY)
  • Average Price: $335,093 (up 7.1% YoY)
  • Median Price: $310,000 (down 2.9% YoY)
  • Days to Sell: 44 (down from 47 in April)

Fewer condos sold in May, but the average price was higher than last year and homes sold a little faster. Buyers are selective, but good units are still attracting strong offers.

Townhomes

  • Sales: 27 (down 3.6% YoY)
  • Average Price: $521,055 (up 7.4% YoY)
  • Median Price: $452,500 (flat YoY)
  • Days to Sell: 48 (down from 58 in April)

Townhomes remained a steady option. While sales were slightly lower than last year, prices increased, and homes moved 10 days faster than in April.

This report is for informational purposes only. Always consult with a licensed professional before making real estate decisions.

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What This Means

May showed a more measured pace in the North Okanagan, but with no major signs of weakness. Prices are holding, inventory is healthy, and homes are still selling. For buyers, that means more time and choice. For sellers, accurate pricing remains key to attracting offers.

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Graphics

Single Family Homes

Condos

Towhomes

Benchmark HPI Prices