Kadin Rainville
KELOWNA – Residential real estate activity maintained a gradual and steady pace in October despite the typical seasonal slowdown, reports the Association of Interior Realtors® (the Association).
A total of 1,274 residential unit sales were recorded across the Association region in October, up from September’s 1,242 units, and up 5.2% compared to units sold in October last year.
New residential listings saw a 4.0% increase compared to October 2024 with 2,202 new listings recorded last month. The total number of active listings saw a 0.0% change in inventory compared to October 2024 with 8,938 recorded across the Association region. The highest percentage increase in active listings across the Association region was recorded in the North Okanagan with a total increase of 4.0% compared to the same month last year.
“Market activity for the month was steady, which is a positive sign for this time of year. Typically, we see a cooling in the market as the weather cools, but October held flat instead of dipping, which in real estate terms is a good thing,” says Association of Interior Realtors® President Kadin Rainville, adding that “this is an encouraging indicator of buyer and seller confidence in the local real estate market.”
“Current trends indicate that the market continues to perform within the bounds of a typical year-to-date pattern in activity. It will be interesting to see if this consistency carries through to deliver a strong hand-off into the new year,” notes Rainville.
In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw increases last month in all sub-regions in year-over-year comparisons with the exception of the South Okanagan, which saw a mild decrease of 0.4%, coming in at $754,700. The townhome housing category saw benchmark price decreases in all sub-regions compared to October 2024, with the highest decrease of 3.5% in the Shuswap/ Revelstoke region, coming in at $529,000. The benchmark pricing in the condominium housing category recorded South Okanagan being the only region that saw a decrease of 0.5% compared to the same time last year, coming in at $430,900.
Source: interiorrealtors.ca
