Michael A. Jones - PREC* | Royal LePage Kelowna
August was another steady month for the Vernon & North Okanagan market. Sales and sales volume climbed strongly year over year, while inventory remained higher than last year but eased from July. Detached homes held firm with modest price growth, townhomes stayed active but softer on pricing, and condos remained the weakest segment with lower values and longer selling times. Buyers remain engaged but deliberate, and sellers must price accurately to attract offers. Here’s what happened in August.
The North Okanagan includes Vernon, Coldstream, Armstrong, Spallumcheen, Enderby, and Lumby.
Total sales (blue) and new listings (gold) in Vernon & North Okanagan over the past year.
Overall Market Activity
- Total Sales: 129 (up 21% YoY)
- Sales Volume: $99.3M (up 24% YoY)
- Active Listings: 772 (up 6.5% YoY)
- New Listings: 200 (up 14.1% YoY)
- List-to-Sell Ratio: 95.96% (down slightly YoY)
- Days to Sell (Avg): 63 (up from 59)
Sales and volume rose sharply compared to last year. Buyers had more options with additional listings, but longer days on market confirm a more selective pace.
MLS® HPI benchmark price trends for single family, townhomes, and condos in Vernon & North Okanagan.
Property Type Breakdown
Single Family Homes (Excludes Lakefront & Acreage)
- Sales: 84 (down slightly YoY)
- Average Price: $834,850 (up 4.2% YoY)
- HPI Price: $781,400 (up 1.4% YoY)
- Median Price: $788,750 (up 7.3% YoY)
- Days to Sell: 61 (vs. 56 last year)
- New Listings: 142 (up 6.0% YoY)
Insight: Detached homes are steady. Prices inched higher, but buyers are taking longer to commit. Sellers who meet the market are still closing deals.
Single family home sales and new listings in Vernon & North Okanagan, August 2025.
Townhomes
- Sales: 26 (up 8.3% YoY)
- Average Price: $525,800 (down 3.2% YoY)
- HPI Price: $561,200 (flat YoY)
- Median Price: $482,450 (down 2.5% YoY)
- Days to Sell: 68 (vs. 61 last year)
- New Listings: 39 (flat YoY)
Insight: Sales improved, but pricing softened. Buyers are targeting value properties, pushing the median down. The benchmark’s stability shows fundamentals remain solid.
Condo/Apartments
- Sales: 15 (up 7% YoY)
- Average Price: $334,700 (down 2.7% YoY)
- HPI Price: $322,600 (flat YoY)
- Median Price: $310,000 (down 5.4% YoY)
- Days to Sell: 76 (vs. 69 last year)
- New Listings: 19 (up 5.6% YoY)
Insight: Condos remain the slowest segment. Longer days on market and lower prices highlight buyer caution. Well-priced, well-located units still attract activity.
This report is for informational purposes only. Always consult with a licensed professional before making real estate decisions.
Market Takeaway
The Vernon & North Okanagan market remains active, with stronger sales and volume compared to last year. Detached homes continue to hold value, townhomes are stable with modest softness, and condos lag behind. Buyers enjoy time and choice, while sellers who price realistically are still transacting. Expect seasonal slowdown into fall, but steady rates should support ongoing confidence.
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