The Okanagan real estate market in July 2025 demonstrated a robust mid-summer performance, with both the Central and North Okanagan regions showing significant year-over-year growth in sales activity. The Central Okanagan saw a notable increase in units sold and a faster sales pace, while the North Okanagan experienced a substantial surge in sales volume. This report provides a detailed analysis of the latest statistics for July 2025, offering an objective assessment of the current market landscape.
Central Okanagan Market Overview
July 2025 data for the Central Okanagan revealed a dynamic market with a strong uptick in sales compared to the previous year. Properties sold more quickly, and despite a slight dip in active listings from the previous month, inventory remained higher than last year, continuing to offer buyers a healthy range of options.
Market Statistics
- New Listings: 1,184 new properties were listed, a slight increase of 0.85% from 1,174 in July 2024.
- Units Sold: 482 properties changed hands, an increase of 10.80% compared to 435 units sold last July.
- Sales Volume: Total transaction value was largely stable at $365,647,299, a 0.25% increase over $364,725,969 last year.
- List/Sell Ratio: Properties sold for 96.52% of the list price on average, nearly identical to 96.67% last year.
- Days to Sell: Properties took an average of 55 days to sell, significantly faster than the 68 days in July 2024.
- Active Listings: Inventory climbed to 4,481 properties, up 5.93% from 4,230 last year.
Property Type Analysis
- Single Family Homes (excluding lakefront and acreages): 198 homes sold; average price $1,053,775; median price $919,750; 1,560 active listings.
- Condos & Apartments: 115 units sold; average price $491,058; median price $437,000; 958 active listings.
- Townhouses: 61 units sold; average price $705,256; median price $660,000; 433 active listings.
Market Analysis
The Central Okanagan’s market showed increased velocity in July, with days to sell dropping by nearly two weeks compared to last year. The 10.80% jump in units sold underscores strong buyer demand, while the 5.93% inventory growth ensures that choices are still plentiful. The stable list-to-sell ratio indicates that pricing remains consistent and competitive.
Absorption Rate
With 482 units sold out of 4,481 active listings, the absorption rate in July 2025 was approximately 10.76%, indicating a balanced market that continues to favour both buyers and sellers.
North Okanagan Market Overview
The North Okanagan market in July 2025 was characterized by a remarkable year-over-year surge in sales volume and units sold. Inventory levels grew, and properties sold more quickly, signaling a confident and active market.
Market Statistics
- New Listings: 391 properties were listed, up 8.31% from 361 in July 2024.
- Units Sold: 194 properties sold, a significant increase of 19.02% from 163 units sold last July.
- Sales Volume: Total sales value soared to $132,143,076, a 26.35% increase over $104,588,678 last year.
- List/Sell Ratio: Properties sold for 96.92% of the list price, an improvement from 96.37% last year.
- Days to Sell: Homes took an average of 65 days to sell, down from 72 days last year.
- Active Listings: Inventory rose to 1,653 properties, a 5.96% increase from 1,560 last year.
Property Type Analysis
- Single Family Homes (excluding lakefront and acreages): 86 homes sold; average price $801,409; median price $734,650; 531 active listings.
- Condos & Apartments: 11 units sold; average price $323,195; median price $269,000; 83 active listings.
- Townhouses: 29 units sold; average price $472,922; median price $453,000; 143 active listings.
Market Analysis
The North Okanagan’s impressive 26.35% gain in sales volume, coupled with a 19.02% rise in units sold, points to a highly energized market. The improved list-to-sell ratio and faster selling times suggest that well-priced properties are moving quickly. The continued growth in inventory provides a healthy supply to meet this heightened demand.
Absorption Rate
With 194 units sold out of 1,653 active listings, the absorption rate in July 2025 was approximately 11.74%, suggesting a market that is balanced but leaning slightly in favour of sellers due to the strong sales pace.
June 2025 vs. July 2025
Central Okanagan
- New Listings: Decreased by 8.22% from 1,290 in June to 1,184 in July.
- Units Sold: Increased by 5.24% from 458 in June to 482 in July.
- Sales Volume: Fell by 4.49% from $382,836,191 in June to $365,647,299 in July.
- Days to Sell: Improved from 60 days in June to 55 in July.
- Active Listings: Decreased by 0.99% from 4,526 in June to 4,481 in July.
North Okanagan
- New Listings: Decreased by 8.22% from 426 in June to 391 in July.
- Units Sold: Decreased slightly by 1.52% from 197 in June to 194 in July.
- Sales Volume: Remained steady with a 0.17% increase from $131,923,800 in June to $132,143,076 in July.
- Days to Sell: Improved from 67 days in June to 65 days in July.
- Active Listings: Decreased by 1.14% from 1,672 in June to 1,653 in July.
Market Outlook
- For Buyers: Increased inventory compared to last year offers a good selection across both regions. With properties selling faster, particularly in the Central Okanagan, buyers should be prepared to act decisively.
- For Sellers: Strong buyer demand and faster sales cycles are positive indicators. However, with inventory levels still robust, competitive pricing remains crucial for attracting offers and achieving a successful sale.
- For Investors: The market's momentum presents opportunities. The Central Okanagan’s high-velocity environment is ideal for those seeking quick turnarounds, while the North Okanagan’s surging sales volume and strong price appreciation signal a market with significant growth potential.
Conclusion
The Okanagan real estate market in July 2025 transitioned smoothly into the mid-summer season, characterized by heightened sales activity and faster transaction times compared to the previous year. The Central Okanagan demonstrated increased sales velocity, while the North Okanagan posted impressive gains in overall sales value. As the summer continues, these balanced yet active conditions are expected to provide favourable opportunities for all market participants.
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.
