Central Okanagan Market Pulse
March 2026

With Spring Break just around the corner and the days stretching a little longer, there’s a sense of energy around the Central Okanagan. Aside from one brief cold snap in February, it has felt like spring for most of the winter, and many homeowners are already thinking ahead to the busier season as we move toward March. And don’t forget, we “spring forward” this weekend, so be sure to set your clocks ahead one hour and enjoy the extra evening light.

Market Snapshot – February 2026 vs 2025

Single-Family

• # of Sales: 115 ▼6%

• Avg. Sale Price: $1,025,816 ▼10%

• Median Sale Price: $873,125 ▼17%

• Days on Market: 78 ▲10%

• List-to-Sale Price Ratio: 95%

Condo

• # of Sales: 74 ▼5%

• Avg. Sale Price: $497,379 ▼2%

• Median Sale Price: $435,500 ▼1%

• Days on Market: 75 ▲5%

• List-to-Sale Price Ratio: 96%

Townhome

• # of Sales: 45 ▼4%

• Avg. Sale Price: $759,138 ▲1%

• Median Sale Price: $650,000 ▼7%

• Days on Market: 77 ▲51%

• List-to-Sale Price Ratio: 97%

February’s numbers confirm what we’ve been feeling on the ground — we are firmly in a buyer’s market.

Sales were down year over year across residential homes, condos, and townhomes, both month-to-date and year-to-date. At the same time, prices have softened in most segments, particularly in detached homes. While inventory is slightly lower in some categories compared to last year, it remains more than sufficient relative to current demand. The clearest signal? Days on market have risen substantially across all property types.

Buyers are taking their time. They have choice, negotiating power, and fewer competitive situations. Borrowing costs have stabilized compared to last year, but buyers remain highly rate-sensitive and cautious in their decision-making. Broader economic uncertainty continues to influence confidence. Well-priced and well-prepared homes are still selling, but the gap between strategic listings and aspirational pricing is widening. For sellers, this means thoughtful pricing and strong presentation are essential. For buyers, this market offers opportunity, particularly for those who are financially prepared and looking to negotiate.

As we move toward the spring market, we’ll be watching closely to see whether increased seasonal activity brings renewed momentum or whether buyer caution continues to shape conditions. If you are considering buying or selling in the Central Okanagan, or simply want a clearer understanding of current market conditions, I am always happy to help. Reach out anytime for guidance tailored to your goals and timeline.