The Central Okanagan real estate market saw more sales last month than it had done in two years, but it still lags way behind compared to the 10-year average.<\/p>\n\n\n\n
According to Rennie Intelligence, the growth in sales in the Central Okanagan came from single-family homes which increased 26% compared to May 2024.<\/p>\n\n\n\n
Overall sales in the Central Okanagan real estate market grew by 5% with condos taking the biggest hit seeing sales slump 25%.<\/p>\n\n\n\n
Numbers from Rennie Intelligence show sales in the real estate market for the Central Okanagan 20% lower than the 10-year average.<\/p>\n\n\n\n
The Association of Interior Realtors paints a rosier picture saying market activity is “slightly subdued” compared to historical norms.<\/p>\n\n\n\n
Overall across the Southern Interior, sales were down by 4% in May with the Central Okanagan and the Kootenay the only areas seeing slight increases, according to the Association of Interior Realtors.<\/p>\n\n\n\n
Kamloops saw the worst decline, with sales falling 13%, followed by the North Okanagan at 12% and the South Okanagan at 7%.<\/p>\n\n\n\n
Despite slow sales across the region, prices largely held their own.<\/p>\n\n\n\n
While Kamloops saw a 15% drop in sales of single-family homes, prices still increased by 5%.<\/p>\n\n\n\n
The North Okanagan saw an 11% drop in family home sales, while prices in that category dropped by just 1%.<\/p>\n\n\n\n
Condo sales across the Okanagan were down by between 18% and 32%, but prices managed to stay on par, with the Southern Okanagan seeing the only real measurable movement as prices dropped 5%.<\/p>\n\n\n\n
Kamloops saw no movement in condo prices as sales slumped 10%.<\/p>\n\n\n\n
The current benchmark price for a single-family home in the Central Okanagan is $1,030,400, in the South Okanagan $788,400, in the North Okanagan $771,300, and in Kamloops $680,700.<\/p>\n\n\n\n
Benchmark prices for townhomes in the Central Okanagan are $745,200, in the North Okanagan $567,000, in the South Okanagan $535,600 and in Kamloops $525,100.<\/p>\n\n\n\n
A condo in Central Okanagan now goes for $511,800, in the South Okanagan $422,100, in the North Okanagan $325,800 and in Kamloops $374,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sales still lag way behind compared to the 10-year average.<\/p>\n","protected":false},"author":0,"featured_media":7486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"","byline":"","published":"","updated":"","_infotelid":"","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[541],"tags":[],"region":[322,323,324,325],"class_list":["post-7485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/hd-mediaitemid106075-5396.jpg","post_modified":"2025-06-06T17:00:25","post_modified_gmt":"2025-06-07T00:00:25","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/posts\/7485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/comments?post=7485"}],"version-history":[{"count":0,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/posts\/7485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/media\/7486"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/media?parent=7485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/categories?post=7485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/tags?post=7485"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/inhome\/wp-json\/wp\/v2\/region?post=7485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}