Central Okanagan Market Update

As the new year ushers in fresh beginnings, the Central Okanagan feels especially peaceful. The holiday lights may be coming down, but the warmth of the season lingers in neighbourhood gatherings, mild winter days, and the sense of calm January always seems to bring. It’s a wonderful time to pause, reset, and look ahead to what 2026 may have in store for our community and our real estate market.

December wrapped up 2025 with steady activity overall. Single-family homes continued to be the anchor of the market, ending the month and the year ahead of 2024 levels. Average sale prices for the month came in higher than last year, suggesting that despite shifting conditions, buyers and sellers are still finding good alignment in this segment. Townhomes also held their own, showing small increases in both monthly and year-to-date sales.

The condo market, however, told a different story. December saw fewer condo sales compared to last year, paired with higher inventory levels. This created a more competitive environment for sellers and gave buyers additional choice. These kinds of variations between property types aren’t unusual, especially in a region as diverse as ours, but they do remind us that market conditions can vary widely depending on home style and price range.

Interest rate discussions will continue to be a major influence as we move through the first part of the year. While no late-2025 changes came from the Bank of Canada, many are watching for possible adjustments in 2026. Any easing of rates could stir new activity, particularly in entry- and mid-level price brackets.

As we step into 2026, there’s genuine excitement about the opportunities ahead. Balanced conditions in key segments, evolving economic signals, and a community that continues to grow all set the stage for an interesting year in local real estate.

If you’re considering a move this year, or simply want to understand how these trends affect your plans, I am always ready to help.