NORTH OKANAGAN JUNE 2025 OVERVIEW

Scroll to see what happened in North Okanagan real estate in JUNE 2025.

Local Residential Real Estate Activity Gaining Positive Momentum

KELOWNA, B.C. – July 4th, 2025. Residential real estate sales bounced back in June after a stretch of muted activity, reports the Association of Interior REALTORS® (the Association). A total of 1,494 residential unit sales were recorded across the Association region in June, coming in slightly above May’s 1,482 units and up 8.5% compared to units sold in June last year. New residential listings saw a 0.5% increase compared to June 2024 with 3,275 new listings recorded last month. 

The total number of active listings saw a 5.6% increase in inventory compared to June 2024 with 10,543 recorded across the Association region. Except for the South Peace River region that saw a decrease in active listings, all other Association regions saw an increase in overall inventory compared to the same time last year. “June brought a welcome rebound in residential real estate sales, suggesting that the market is regaining its footing after a sluggish spring,” says the Association of Interior REALTORS® President Kadin Rainville, adding “while we're not yet back to historic levels, the positive momentum is notable given the lingering economic uncertainty from unresolved trade policies, which have weighed more heavily on other markets in the province.”

In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw increases last month in all sub-regions in year-over-year comparisons with the exception of the Shuswap/Revelstoke region, which saw a 2.4% decrease, coming in at $735,000. The townhome housing category saw benchmark price increases in the Shuswap/Revelstoke, Central and North Okanagan, while the South Okanagan saw a slight decrease of 0.8% compared to June 2024, coming in at $522,900. The benchmark pricing in the condominium housing category recorded the South Okanagan being the only region that saw a decrease of 3.0% compared to the same time last year, coming in at $435,800.

“The gap between buyer and seller expectations remains a key factor contributing to some hesitation, alongside broader economic concerns. However, improved inventory levels may help restore buyer confidence given the more balanced market conditions,” notes Rainville.

Provincially Speaking

Most Regions in BC See Stronger Sales in June

Vancouver, BC – July 14, 2025. The British Columbia Real Estate Association (BCREA) reports that 7,162 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in June 2025, up 1.3 per cent from June 2024. The average MLS® residential price in BC in June 2025 was down 4.2 per cent at $954,065 compared to $995,614 in June 2024.

The total sales dollar volume was $6.8 billion, a 3 per cent decrease from the same time the previous year. BC MLS® unit sales were 23 per cent lower than the ten-year June average.
 
“Many regional housing markets across BC remained resilient through the second quarter, with only the Lower Mainland falling below sales activity from the previous year,” said BCREA Chief Economist Brendon Ogmundson. “Until broader uncertainties are resolved, we expect overall housing activity in the most expensive areas of the province to continue lagging behind other regions that have steadily recovered since the onset of tariff uncertainty.”
 
Year-to-date, BC residential sales dollar volume is down 11 per cent to $34.2 billion, compared with the same period in 2024. Residential unit sales are down 7.1 per cent year-over-year at 35,847 units, while the average MLS® residential price is also down 4.2 per cent to $954,241.