The Okanagan real estate market began 2026 with typical post-holiday seasonal patterns, as both the Central and North Okanagan regions experienced year-over-year declines in sales activity. January traditionally marks the slowest period for real estate transactions, and 2026 followed this historical trend. Despite reduced transaction volumes, the market demonstrated stability with relatively balanced inventory levels and pricing holding steady across most property types.

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Central Okanagan Market Overview

January 2026 data for the Central Okanagan revealed a quieter start to the year with reduced activity levels compared to January 2025. The region experienced typical winter market conditions with fewer listings and transactions as buyers and sellers remained cautious following the holiday season.

Market Statistics

• New Listings: 894 new properties were listed, a decrease of 15.98% from 1,064 in January 2025.
• Units Sold: 226 properties changed hands, a decrease of 16.91% compared to 272 units sold last January.
• Sales Volume: Total transaction value reached $184,473,565, down 12.69% from $211,278,654 last year.
• List/Sell Ratio: Properties sold for 90.37% of the list price on average, down from 92.93% last year.
• Days to Sell: Properties took an average of 92 days to sell, virtually unchanged from 91 days in January 2025.
• Active Listings: Inventory decreased to 3,109 properties, down 3.95% from 3,237 last year.

Property Type Analysis

• Single Family Homes (excluding lakefront and acreages): 91 homes sold; average price $1,036,503; median price $945,000; 940 active listings.
• Condos & Apartments: 55 units sold; average price $501,550; median price $410,000; 685 active listings.
• Townhouses: 36 units sold; average price $730,581; median price $661,250; 314 active listings.

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Market Analysis

The Central Okanagan's January performance reflected typical seasonal patterns with a 16.91% decline in unit sales and a 12.69% decrease in sales volume year-over-year. The lower list-to-sell ratio indicates increased price negotiations as buyers exercised caution in the post-holiday market. Despite reduced activity, days to sell remained stable, and the decrease in both new listings and inventory suggests sellers are also taking a measured approach to start the year.

Absorption Rate

With 226 units sold out of 3,109 active listings, the absorption rate in January 2026 was approximately 7.27%, or about 13.8 months of supply, signalling a Buyer's Market with typical winter characteristics.

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North Okanagan Market Overview

The North Okanagan market in January 2026 demonstrated resilience with a modest year-over-year decline in units sold but maintained sales volume levels. The region showed stability as it entered the new year despite typical seasonal headwinds.

Market Statistics

• New Listings: 215 properties were listed, down 17.31% from 260 in January 2025.
• Units Sold: 83 properties sold, a decrease of 7.78% from 90 units sold last January.
• Sales Volume: Total sales value reached $56,622,699, a marginal increase of 0.37% from $56,413,856 last year.
• List/Sell Ratio: Properties sold for 95.61% of the list price, down slightly from 96.80% last year.
• Days to Sell: Homes took an average of 85 days to sell, down from 89 days last year.
• Active Listings: Inventory rose slightly to 1,078 properties, up just 0.47% from 1,073 last year.

Property Type Analysis

• Single Family Homes (excluding lakefront and acreages): 35 homes sold; average price $737,580; median price $730,000; 264 active listings.
• Condos & Apartments: 11 units sold; average price $301,491; median price $307,000; 78 active listings.
• Townhouses: 9 units sold; average price $485,000; median price $527,000; 100 active listings.

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Market Analysis

The North Okanagan's modest 7.78% decline in units sold was offset by a slight 0.37% increase in sales volume, indicating that higher-value properties continued to transact despite the seasonal slowdown. The improved days to sell metric and stable list-to-sell ratio demonstrate market efficiency. The minimal inventory growth of 0.47% suggests a well-balanced market entering 2026.

Absorption Rate

With 83 units sold out of 1,078 active listings, the absorption rate was approximately 7.70%, or about 13.0 months of supply, indicating a Buyer's Market with seasonal characteristics.

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December 2025 vs. January 2026

Central Okanagan

• New Listings: Increased by 101.35% from 444 in December to 894 in January.
• Units Sold: Decreased by 15.36% from 267 in December to 226 in January.
• Sales Volume: Decreased by 19.95% from $230,466,800 in December to $184,473,565 in January.
• Days to Sell: Increased from 83 days in December to 92 in January.
• Active Listings: Decreased by 1.27% from 3,149 in December to 3,109 in January.

North Okanagan

• New Listings: Increased by 43.33% from 150 in December to 215 in January.
• Units Sold: Decreased by 25.23% from 111 in December to 83 in January.
• Sales Volume: Decreased by 31.63% from $82,816,660 in December to $56,622,699 in January.
• Days to Sell: Decreased from 98 days in December to 85 in January.
• Active Listings: Decreased by 5.69% from 1,143 in December to 1,078 in January.

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Market Outlook

For Buyers: January's market conditions favor purchasers with reduced competition and increased negotiating leverage. Absorption rates firmly in Buyer's Market territory provide opportunities to take time with decisions and negotiate favorable terms. As spring approaches, buyers who act now may secure better deals before the traditional spring market uptick.

For Sellers: The post-holiday market requires patience and strategic pricing. Properties that are competitively priced and professionally presented will continue to attract the smaller pool of active winter buyers. Sellers should work closely with their agents to position properties effectively for the limited but motivated buyer base.

For Investors: The quieter January market presents opportunities for strategic acquisitions with less competition. While transaction volumes are down year-over-year, the stable pricing and improved days-to-sell metrics in the North Okanagan suggest underlying market health. Investors with flexibility can capitalize on reduced competition and potentially more motivated sellers during the winter months.

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Conclusion

The Okanagan real estate market began 2026 following typical seasonal patterns with both regions experiencing expected post-holiday slowdowns. The Central Okanagan saw a 16.91% decline in units sold with a 12.69% decrease in sales volume, while the North Okanagan demonstrated resilience with only a 7.78% drop in units sold and sales volume remaining essentially flat year-over-year. Absorption rates indicate continued Buyer's Market conditions across both regions, providing excellent opportunities for purchasers while requiring strategic approaches from sellers. As we move through the first quarter of 2026, market participants should anticipate gradual activity increases as spring approaches, with the foundation laid for a potentially active spring market season.

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Source: Association of Interior REALTORS®