Michael A. Jones - PREC* | Royal LePage Kelowna
December closed the year on a firmer note for the North Okanagan. Sales rose. Inventory tightened slightly. Prices held.
This was not a breakout month. But it was not weak either. Buyers showed up when pricing made sense. Sellers who met the market were rewarded with faster closings and stronger negotiations.
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.
Market at a Glance (Residential Only)
- Residential sales: 98 homes (up 19.5% year-over-year)
- Residential sales volume: $74.75M (up 26.8% year-over-year)
- New residential listings: 114
- Active residential listings: 695 (up 11.0% year-over-year)
- Average days on market: 81 (down from 99 last year)
- List-to-sell ratio: 94.2%
The market finished the year more active than December 2024. Buyers showed up. Sellers who priced well moved their properties faster and closer to asking. The gap between average and median days on market narrowed, suggesting more consistency across price points.
Property Type Breakdown
Single Family Homes (Excluding Lakefront & Acreage)
- Sales: 44
- Average price: $858,036
- Median price: $730,000
- Days on market: 86
- Inventory: 279 homes
- Sell-to-inventory ratio: 15.8%
Insight: Detached homes remain the backbone of the market. Prices stayed firm even as inventory levels crept up from the fall. The spread between average and median price shows upper-tier properties traded alongside more affordable stock. Days on market came in near the 12-week mark, which is healthy for winter. Buyers looking for space and privacy continue to favor Vernon over higher-priced Kelowna alternatives.
Townhomes & Duplex-Style Properties
- Sales: 16
- Average price: $486,469
- Median price: $437,500
- Days on market: 74
- Inventory: 100 homes
- Sell-to-inventory ratio: 16.0%
Insight: Townhomes continued to move efficiently. This segment benefits most from affordability pressure pushing buyers out of detached homes and down from Kelowna. At 74 days on market, well-priced townhomes turned faster than single-family. The median price sitting nearly $50,000 below the average suggests strong activity at entry-level pricing.
Condos & Apartments
- Sales: 8
- Average price: $341,219
- Median price: $307,375
- Days on market: 55
- Inventory: 78 units
- Sell-to-inventory ratio: 10.3%
Insight: Condos remain the softest segment. Sales were thin in December, but days on market dropped to just 55, the fastest of all property types. This suggests motivated sellers found motivated buyers when pricing aligned. Inventory sits modest at 78 units. Buyers have leverage here. Pricing matters more than timing. Expect this segment to stay selective through early 2026.
Year-End Perspective
For all of 2025:
- Total residential sales: 1,640
- Total residential volume: $1.15B
- Average residential price: $700,317
- Median residential price: $630,500
- Average days on market: 71
Year-over-year sales rose over 12%. Volume rose at the same pace. Prices were stable, not speculative. The North Okanagan finished 2025 as one of the more consistent markets in BC. No crashes. No bubbles. Just steady absorption driven by affordability and lifestyle appeal.
Bank of Canada Rate Update: The next announcement is January 29, 2026 (view here). The policy rate sits at 3.25%. Canada's 5-year bond yield trades near 2.90%. Rate stability through late 2025 created a more predictable borrowing environment. Prices held because buyers had clarity on carrying costs.
Market Takeaway
December confirmed a simple truth.
The North Okanagan market is not frozen. It is selective.
Well-priced homes sell. Overpriced listings wait. The gap between asking and selling narrowed for properties that met the market. Buyers showed up when value aligned with affordability.
The question for early 2026 is straightforward: Does improving affordability bring more buyers off the sidelines? December suggests yes. But spring will tell the full story.
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This blog post is for general informational purposes only and should not be taken as professional advice. Always consult a licensed REALTOR® for real estate matters, a qualified tax professional for tax matters, and a lawyer or notary public for legal matters before making decisions.