The Okanagan real estate market in November 2025 continued its fall trajectory with both the Central and North Okanagan regions experiencing modest year-over-year declines in sales activity. As the market entered the traditionally slower winter season, both regions saw reduced transaction volumes while maintaining relatively stable pricing and inventory levels.
Central Okanagan Market Overview
November 2025 data for the Central Okanagan revealed a cooling market with activity levels declining compared to the previous year. Inventory decreased slightly, reflecting the seasonal slowdown typical of late fall.
Market Statistics
- New Listings: 660 new properties were listed, a decrease of 10.33% from 736 in November 2024.
- Units Sold: 302 properties changed hands, a decrease of 9.31% compared to 333 units sold last November.
- Sales Volume: Total transaction value reached $252,860,883, down 10.19% from $281,538,594 last year.
- List/Sell Ratio: Properties sold for 95.37% of the list price on average, up from 94.13% last year.
- Days to Sell: Properties took an average of 78 days to sell, slightly longer than the 74 days in November 2024.
- Active Listings: Inventory decreased to 3,611 properties, down 0.71% from 3,637 last year.
Property Type Analysis
- Single Family Homes (excluding lakefront and acreages): 133 homes sold; average price $1,078,116; median price $917,000; 1,157 active listings.
- Condos & Apartments: 75 units sold; average price $479,439; median price $420,000; 745 active listings.
- Townhouses: 37 units sold; average price $705,022; median price $655,000; 401 active listings.
Market Analysis
The Central Okanagan's market showed expected seasonal softening in November, with a 9.31% decline in units sold and a 10.19% decrease in sales volume reflecting typical late-fall market dynamics. The decrease in inventory suggests sellers are also pulling back during the slower season. The improved list-to-sell ratio indicates that well-priced properties continue to attract buyers despite the seasonal slowdown.
Absorption Rate
With 302 units sold out of 3,611 active listings, the absorption rate in November 2025 was approximately 8.36%, or about 12.0 months of supply, signalling a Buyer's Market with seasonal deceleration.
North Okanagan Market Overview
The North Okanagan market in November 2025 mirrored the Central Okanagan's seasonal slowdown with modest year-over-year declines in both sales activity and transaction values. Inventory levels grew, reflecting the typical winter market pattern.
Market Statistics
- New Listings: 213 properties were listed, down 1.39% from 216 in November 2024.
- Units Sold: 123 properties sold, a decrease of 3.91% from 128 units sold last November.
- Sales Volume: Total sales value reached $79,329,169, a 5.89% decrease from $84,290,974 last year.
- List/Sell Ratio: Properties sold for 95.87% of the list price, down from 96.80% last year.
- Days to Sell: Homes took an average of 89 days to sell, up from 78 days last year.
- Active Listings: Inventory rose to 1,309 properties, a 9.45% increase from 1,196 last year.
Property Type Analysis
- Single Family Homes (excluding lakefront and acreages): 51 homes sold; average price $768,490; median price $765,000; 351 active listings.
- Condos & Apartments: 9 units sold; average price $244,778; median price $225,000; 83 active listings.
- Townhouses: 21 units sold; average price $533,881; median price $500,000; 116 active listings.
Market Analysis
The North Okanagan's modest 3.91% decline in units sold and 5.89% decrease in sales volume demonstrates a market entering its seasonal winter slowdown. The slight dip in the list-to-sell ratio and longer selling times reflect reduced buyer urgency typical of this time of year. The 9.45% growth in inventory provides buyers with increased selection heading into the winter months.
Absorption Rate
With 123 units sold out of 1,309 active listings, the absorption rate was approximately 9.40%, or about 10.6 months of supply, indicating a Buyer's Market with seasonal cooling.
October 2025 vs. November 2025
Central Okanagan
- New Listings: Decreased by 28.26% from 920 in October to 660 in November.
- Units Sold: Decreased by 21.76% from 386 in October to 302 in November.
- Sales Volume: Decreased by 26.90% from $345,886,606 in October to $252,860,883 in November.
- Days to Sell: Increased from 76 days in October to 78 in November.
- Active Listings: Decreased by 7.81% from 3,917 in October to 3,611 in November.
North Okanagan
- New Listings: Decreased by 13.06% from 245 in October to 213 in November.
- Units Sold: Decreased by 25.00% from 164 in October to 123 in November.
- Sales Volume: Decreased by 28.23% from $110,521,970 in October to $79,329,169 in November.
- Days to Sell: Increased from 85 days in October to 89 in November.
- Active Listings: Decreased by 8.08% from 1,424 in October to 1,309 in November.
Market Outlook
- For Buyers: The winter season brings increased negotiating power and more time to make decisions. With absorption rates firmly in Buyer's Market territory and inventory levels providing good selection, buyers can take advantage of reduced competition and potentially more motivated sellers.
- For Sellers: The seasonal slowdown requires strategic pricing and strong presentation to attract the smaller pool of active buyers. Properties that are competitively priced and show well will continue to sell, but patience may be required during the winter months.
- For Investors: The quieter winter market can present opportunities for those willing to act while competition is reduced. Year-to-date statistics show both regions maintaining strong performance, with the Central Okanagan up 7.66% in sales and the North Okanagan up 12.54% in sales compared to last year, indicating underlying market strength despite seasonal fluctuations.
Conclusion
The Okanagan real estate market in November 2025 entered its seasonal winter slowdown with both regions experiencing expected declines in activity compared to the previous year and the previous month. Absorption rate calculations show both the Central and North Okanagan remain firmly in Buyer's Market territory, with inventory levels providing ample choice. For buyers, this creates excellent opportunities with reduced competition and strong negotiating power. For sellers, success requires competitive pricing and patience as the market navigates the traditionally slower winter season. Despite the monthly decline, year-to-date performance remains strong across both regions, demonstrating the market's overall resilience throughout 2025.
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.
