Association of Interior REALTORS® - Okanagan

Residential real estate sales in March maintained a steady pace, supported by healthy inventory levels, reports the Association of Interior REALTORS® (the Association).

A total of 1,143 residential unit sales were recorded across the Association region in March, coming in above February’s 914 units and up 11.9% compared to units sold in March last year.

New residential listings saw a moderate increase of 3% compared to March 2024 with 3,214 new listings recorded last month. The total number of active listings saw an 8.3% increase in total inventory compared to March 2024 with 8,374 recorded across the Association region. The highest percentage increase in active listings across the Association region for a second consecutive month was in Central Okanagan with a total increase of 14.3% compared to the same month last year.

“While market activity may have felt somewhat subdued across the region compared to previous years, we still saw the typical seasonal uptick that usually comes as we head into the busy spring market,” says the Association of Interior REALTORS® President Kaytee Sharun, adding “while the broader economic uncertainty surrounding tariffs may be contributing to an atmosphere of hesitation, home sales and inventory levels are maintaining a healthy pace, as demand and the need for housing remain strong."

In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw increases last month in all regions in year-over-year comparisons with the highest increase of 7.2% seen in the South Okanagan region, coming in at $771,100. Similarly, in the townhome housing category, benchmark prices saw increases in all regions with the South Okanagan seeing the highest percentage increase of 6.4%, coming in at $529,100. The benchmark pricing for condominiums recorded the South Okanagan being the only region that saw a decrease of 3.6%, while the Revelstoke/Shuswap, Central and North Okanagan all saw increases of 4.2%, 4.1% and 5.3% respectively.

Given the high stakes on such a significant financial transaction, home sellers and buyers can benefit from the knowledge and skills of a practiced REALTOR®. Contact your local REALTOR® to find out more about the real estate market and how they can help you achieve your real estate goals.