KELOWNA – Okangan real estate showed slow and steady momentum with a slight decrease in listings, according to a recent report from the Association of Interior Realtors.
“Overall, it was a relatively steady month for real estate transactions, despite a slight decline in new listings,” says the Association of Interior Realtors President Kaytee Sharun, adding “typically we see a seasonal uptick in momentum leading into the spring market. However, external factors—such as economic uncertainty and the potential impact of tariffs—may be among the influences causing a slight easing off the accelerator in real estate activity.”
A total of 914 residential unit sales were recorded across the Association region in February, which was an increase from January’s 806 units and up 11.3% compared to units sold in February last year.
New residential listings saw a moderate decrease of 1.7% compared to February2024 with 2,304 new listings recorded last month. The total number of active listings saw an 11.8% increase of total inventory compared to February 2024 with 7,346 recorded across the region. The highest percentage increase in active listings across the Association region for a consecutive month was in Central Okanagan with a total increase of 19.7% compared to the same month last year.
The benchmark price for single-family homes saw increases last month in all regions in year-over-year comparisons with the highest increase of 6.7% seen in the Revelstoke/Shuswap region, coming in at $731,800. In the townhome housing category, benchmark prices saw decreases or no percentage changes in all housing categories apart from the South Okanagan that saw an increase of 6.3%, coming in at $523,000. Similarly, benchmark pricing for condominiums recorded the South Okanagan being the exception with a decrease of 6.7%, while the Revelstoke/Shuswap, Central and North Okanagan saw slight increases.
Within the Kamloops and District region, there were 159 residential unit sales recorded last month, up from the 140 recorded in January and an increase of 2.6% compared to February 2024’s unit sales.
There were 336 new listings recorded in January in the Kamloops and District region, which was a decrease of 13.2% compared to February 2024 and below January’s 398 new listings. Overall inventory, or active listings, saw an increase of 7.5% in year-over-year comparison, coming in at 1,007 listings.
The benchmark pricein the Kamloops and District region, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes”, saw percentage decrease of 4.7% and 2.8% in the townhome and condominium housing categories compared to February 2024, coming in at $502,500 and $367,700 respectively. The benchmark price for single-family homes saw an increase of 0.7% in year-over-year comparison coming in at $652,700.
“The Kamloops and District real estate market continues to follow seasonal trends, with sales activity only slightly below average,” says Sharun adding that “despite recent fluctuations, both sales and listings remain within historical norms, reflecting a balanced and resilient market.”
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