The Okanagan real estate market in April 2025 continued to reflect the region’s active spring season, with both Central and North Okanagan showing dynamic shifts in sales, listings, and inventory. While the Central Okanagan saw a modest year-over-year increase in sales volume and a notable rise in active listings, the North Okanagan experienced a slight dip in sales volume but maintained steady transaction numbers. This report analyzes the latest statistics for April 2025 and provides an objective assessment of current market conditions.
Central Okanagan Market Overview
April 2025 data for the Central Okanagan indicates a stable market with a slight increase in sales volume and a significant rise in active inventory compared to April 2024. The number of new listings also grew, while units sold remained nearly unchanged year-over-year.
Market Statistics
- New Listings: 1,397 new properties were listed, up 7.71% from 1,297 in April 2024.
- Units Sold: 446 properties changed hands, nearly flat compared to 447 units in April 2024 (–0.22%).
- Sales Volume: Total transaction value reached $355,502,613, a 1.03% increase from $351,882,470 last year.
- List/Sell Ratio: Properties sold for 97.05% of list price on average, up from 95.62% last year.
- Days to Sell: Properties required an average of 62 days to sell, slightly slower than the 59-day average last April.
- Active Listings: Inventory rose to 4,222 properties, a 13.92% increase from 3,706 last year.
Property Type Analysis
- Single Family Homes (Excluding lakefront and acreages): 203 homes sold; average price: $1,035,599; median price: $945,000; 1,438 active listings.
- Condos & Apartments: 99 units sold; average price: $492,517; median price: $440,000; 894 active listings.
- Townhouses: 67 units sold; average price: $691,894; median price: $675,000; 440 active listings.
Market Analysis
The Central Okanagan’s 13.92% year-over-year increase in active listings signals a continued expansion of inventory, providing buyers with more options. The number of units sold remained stable, while the average list-to-sell ratio improved to 97.05%, indicating sellers are achieving prices closer to their asking values. The modest 1.03% increase in sales volume, despite flat unit sales, suggests a slight upward pressure on prices or a shift toward higher-value transactions. Single-family homes continue to dominate both in volume and price.
Absorption Rate
With 446 units sold out of 4,222 active listings, the absorption rate in April 2025 was 10.57%, indicating a market that still favors buyers, though the improved list-to-sell ratio and stable sales suggest balanced conditions.
North Okanagan Market Overview
The North Okanagan market in April 2025 saw steady sales activity with a slight year-over-year increase in units sold, but a decrease in total sales volume. Inventory levels continued to rise, and properties took longer to sell on average compared to last year.
Market Statistics
- New Listings: 489 properties were listed, nearly unchanged from 490 in April 2024 (–0.20%).
- Units Sold: 164 properties sold, a marginal increase from 163 units in April 2024 (+0.61%).
- Sales Volume: Total sales value reached $106,611,044, down 6.34% from $113,827,522 last year.
- List/Sell Ratio: Properties sold for 89.52% of list price, down from 95.14% last year.
- Days to Sell: Properties took an average of 82 days to sell, up from 75 days in April 2024.
- Active Listings: Inventory stood at 1,488 properties, a 5.23% increase from 1,414 last year.
Property Type Analysis
- Single Family Homes (Excluding lakefront and acreages): 77 homes sold; average price: $779,158; median price: $707,500; 456 active listings.
- Condos & Apartments: 16 units sold; average price: $296,869; median price: $296,450; 90 active listings.
- Townhouses: 21 units sold; average price: $527,519; median price: $512,500; 130 active listings.
Market Analysis
The North Okanagan’s sales activity remained steady year-over-year, but the 6.34% decline in sales volume suggests a shift toward lower-priced transactions or price softening. The average days to sell increased to 82, indicating a slower pace for closing deals. The list-to-sell ratio dropped notably to 89.52%, reflecting increased negotiation or price reductions. Inventory growth continues, offering buyers more selection and leverage.
Absorption Rate
With 164 units sold out of 1,488 active listings, the absorption rate in April 2025 was 11.02%, consistent with a buyer’s market and slightly higher than Central Okanagan.
March 2025 vs. April 2025
Central Okanagan
- New Listings: Increased by 4.65% from 1,335 in March to 1,397 in April.
- Units Sold: Increased by 20.54%, from 370 in March to 446 in April.
- Sales Volume: Increased by 11.11%, from $320,034,845 in March to $355,502,613 in April.
- Days to Sell: Increased from 63 days in March to 62 days in April (slightly faster).
- Active Listings: Increased by 7.37%, from 3,932 to 4,222.
North Okanagan
- New Listings: Increased by 5.16% from 465 in March to 489 in April.
- Units Sold: Increased by 18.84%, from 138 in March to 164 in April.
- Sales Volume: Increased by 20.01%, from $88,854,235 in March to $106,611,044 in April.
- Days to Sell: Increased from 80 days in March to 82 days in April.
- Active Listings: Increased by 14.74%, from 1,297 to 1,488.
Market Outlook
- For Buyers: Inventory continues to grow in both regions, providing a wider selection of properties. The Central Okanagan’s stable sales and improved list-to-sell ratio suggest that well-priced homes are still moving quickly, while the North Okanagan’s longer selling times and lower list-to-sell ratio may offer more room for negotiation.
- For Sellers: April brought increased activity compared to March, especially in units sold and sales volume. However, rising inventory means competition remains high, and accurate pricing is essential. Central Okanagan sellers are achieving prices closer to their list values, while North Okanagan sellers may need to be more flexible due to longer selling times and a lower list-to-sell ratio.
- For Investors: The market remains active, with robust sales volume and growing inventory. Central Okanagan continues to show price resilience and strong demand for single-family homes. North Okanagan’s softer prices and longer selling periods may present opportunities for value-focused investors.
Conclusion
The Okanagan real estate market in April 2025 maintained its spring momentum, with both regions seeing increased inventory and steady sales activity. The Central Okanagan market demonstrated stable sales and improved pricing power for sellers, while the North Okanagan experienced steady transaction numbers but softer prices and longer selling times. As inventory continues to build, buyers have more options, and the market dynamic remains balanced heading into late spring.
Source: Association of Interior REALTORS®
The content of this article is for informational purposes only and should not be considered as financial, legal, or professional advice. Coldwell Banker Horizon Realty makes no representations as to the accuracy, completeness, or suitability of the information provided. Readers are encouraged to consult with qualified professionals regarding their specific real estate, financial, and legal circumstances. The views expressed in this article may not necessarily reflect the views of Coldwell Banker Horizon Realty or its agents. Real estate market conditions and government policies may change, and readers should verify the latest updates with appropriate professionals.
