Central Okanagan Real Estate Market Update – July 2025

August is here, and with it comes some of the best summer vibes our community has to offer. The warm days, sparkling lake, and bustling patios make this one of the most vibrant times to enjoy the Okanagan. Alongside the summer buzz, the July real estate numbers tell a story of a market moving at a steady, deliberate pace.

Detached Homes

Detached home sales rose 13% compared to last July, with 198 transactions recorded. Year-to-date sales are up 17%, showing that buyers remain active in this segment. The average sale price climbed to $1,053,775 (a 3% increase), while inventory dipped slightly. Homes are still selling at 97% of list price, underscoring the importance of sharp, strategic pricing.

Townhomes

Townhome sales softened slightly compared to last year, with the average price coming in at $705,256, down 3%. Inventory levels remain balanced at 7 months, giving both buyers and sellers room to negotiate. Well-presented townhomes in desirable areas continue to attract attention.

Condos

Condo sales eased, but prices are holding firm, averaging $491,058 (up 3% year-over-year). Active listings remain strong with 958 condos available, translating to about 8 months of inventory. For buyers, this means more choice than in recent years and a chance to take their time in selecting the right property.

Lots

Lot sales slowed considerably, with the average price down to $391,300 (a 23% drop). With 24 months of inventory currently available, this segment is leaning heavily toward buyers.

What We’re Seeing Overall

The market continues to balance itself out. Detached homes are showing resilience with tighter supply and steady price growth, while condos offer buyers expanded selection. Across the board, inventory levels are giving buyers more breathing room—properties are averaging 55 days on the market, up slightly from last year.

For sellers, the takeaway is clear: properties priced competitively and presented well are still achieving strong results. For buyers, the current environment offers both choice and time to make thoughtful decisions, especially in the condo and lot segments.

Whether you’re thinking about listing your home or planning a purchase, staying on top of the numbers makes all the difference. If you’d like to discuss how these trends affect your next move, I’m just a call or message away.

Sincerely,

Gillian Krol