Michael A. Jones - PREC* | Royal LePage Kelowna
October showed Vernon and the North Okanagan outpacing the rest of the valley. November cooled that momentum, but the region still looks resilient. Sales slipped, residential inventory climbed, and days on market stretched. Prices held firm across most segments. The market shifted from seller-leaning hot to a more balanced, steady pace.
For context, you can revisit last month’s report here:
Vernon & North Okanagan Market Update — November 2025
The North Okanagan includes Vernon, Coldstream, Armstrong, Enderby, and surrounding areas.
Overall Market Activity
- Total Residential Sales: 106 (down 10.2% YoY)
- Residential Sales Volume: $72,047,002 (down 9.8% YoY)
- Average Residential Price: $679,689 (up 0.5% YoY)
- Median Residential Price: $646,700 (up 2.5% YoY)
- Days to Sell (Avg – Residential): 81 (up 6.9% YoY)
- New Residential Listings: 169 (up 5.6% YoY)
- Active Residential Listings: 825 (up 10.9% YoY)
- List-to-Sell Ratio (Residential): 96.4% (flat to last year)
Residential sales slipped from last year and from the heated pace of October. New listings came in low, but active inventory is up sharply from 2024, giving buyers more choice. The tone is calm. Not distressed. Not overheated. A balanced late-year market that rewards accurate pricing and clean presentation.
Sales-to-New-Listings Ratio (Residential): 62.7% (firm seller-leaning market)
Property Type Breakdown
Single Family Homes (Excludes Lakefront & Acreage)
- Sales: 51 (down 3.8% YoY)
- Average Price: $768,490 (up 4.8% YoY)
- Median Price: $765,000 (up 9.4% YoY)
- Days to Sell: 74 (steady vs 75 last year)
- New Listings: 70 (down 1.4% YoY)
- Current Inventory: 351 (up from 331 last year)
- Sell-to-Inventory Ratio: 14.5% (healthy absorption)
- List-to-Sell Ratio: 96.9% (up from 96.2% last year)
Insight: Single-family volume eased, but pricing held strong. Average and median prices both climbed year over year. Days on market stayed stable in the low 70s. Inventory is higher than last year, yet homes still move when priced to the market. Vernon's detached segment remains attractive to move-up buyers and Kelowna refugees chasing value.
Townhomes (Condo/Townhouse)
- Sales: 21 (up 5.0% YoY)
- Average Price: $533,881 (flat vs last year)
- Median Price: $500,000 (down 7.4% YoY)
- Days to Sell: 70 (down from 78 last year)
- New Listings: 26 (down 10.3% YoY)
- Current Inventory: 116 (well above last year’s 83)
- Sell-to-Inventory Ratio: 18.1% (stronger than single family)
- List-to-Sell Ratio: 97.6% (slightly above last year)
Insight: Townhomes remain one of the tightest and most efficient segments. Sales rose, days on market dropped, and sellers achieved close to 98% of list price. Median price slipped as more buyers targeted affordable units, but the segment remains firm.
Condos / Apartments
- Sales: 9 (down from 13 last year)
- Average Price: $244,778 (down 31.3% YoY)
- Median Price: $225,000 (down 37.5% YoY)
- Days to Sell: 85 (up sharply from 51 last year)
- New Listings: 23 (up from 19 last year)
- Current Inventory: 83 (up from 78 last year)
- Sell-to-Inventory Ratio: 10.8% (slowest of the three segments)
- List-to-Sell Ratio: 96.2% (slightly below last year)
Insight: Condos are the softest part of the North Okanagan market. Sales dropped. Days on market jumped. Prices shifted lower as activity concentrated at entry levels. Inventory rose, yet absorption stayed modest. Buyers have the most leverage here.
Bank of Canada Rate Update: The next announcement is December 10, 2025 (view here). The policy rate sits at 2.25%. Canada’s 5-year bond yield trades near 2.81%. Earlier rate cuts built a stable floor. Prices hold firm. Demand reflects local affordability, not interest-rate shock.
This report is for informational purposes only. Always consult with a licensed professional before making real estate decisions.
Market Takeaway
Vernon and the North Okanagan cooled in November after a strong October, but the region still looks healthy. Residential sales dipped. Inventory rose. Days on market stretched. Prices for single-family homes and townhomes stayed firm. Condos softened. The sales-to-new-listings ratio sits at 62.7% — still seller-leaning but leveling out. Affordability versus Kelowna continues to attract buyers north. Sellers who price to today’s buyers keep momentum. Overpriced listings lose attention fast.
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Additional Market Information
Top Performing Neighborhoods Sales
Top Performing Neighborhoods - New Listings
Total Sales Volume
