Seasonal Shifts Bring Subtle Market Movement
As the Okanagan settles into the rhythm of late spring, May introduces a noticeable uptick in community activity. Vineyards, lakefront patios, and local businesses welcome increased foot traffic from both residents and seasonal visitors. It’s a time of transition: longer days, warmer weather, and a renewed sense of movement across the region—all of which typically lend energy to the housing market.
Yet despite these seasonal shifts, real estate activity in May offered a nuanced picture, with steady inventory growth contrasted by a slight year-over-year decline in unit sales.
Residential Market Overview
According to the Association of Interior REALTORS®, a total of 1,482 residential unit sales were recorded across the region in May 2025. This marks a month-over-month improvement from April’s 1,317 units sold.
Kadin Rainville, President of the Association, notes:
“Market activity remains slightly subdued compared to historical norms, yet steady. Economic uncertainty continues to be a key factor influencing market activity – either driving momentum or dampening engagement, depending on local conditions.”
Residential Home Sales
A total of 1,482 residential unit sales were recorded across the Association region in May, coming in above April’s 1,317 units but down 4.0% compared to units sold in May last year.
Inventory
New residential listings saw a modest decrease of 2.7% compared to April 2025, with 3,581 new listings recorded last month.
The total number of active listings saw a 5.1% increase in total inventory compared to April 2025, with 10,177 active listings recorded across the Association 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 9.2% compared to the same month last year.
Home Sales by Property Type
In the Okanagan, the benchmark price for single-family homes saw increases last month in the Central, North, and South regions in year-over-year comparisons, with the highest increase of 1.4% seen in the Central Okanagan, coming in at $1,030,400.
In the townhome housing category, benchmark prices increased in Central and South Okanagan by 2.9% and 3.9%, reaching $745,200 and $535,600 respectively. In the North Okanagan, the benchmark price for townhomes decreased by 4.2% to $567,000.
The benchmark pricing for condominiums recorded the South Okanagan as the only region to see a decrease of 4.9%, while the Central, and North Okanagan saw increases of 0.8%, and 0.2% respectively to $511,800 and $325,800.
Market Outlook
While May typically signals a warming trend for real estate, the current landscape remains shaped by broader economic factors. Growing inventory across the region hints at potential opportunities for buyers, especially those navigating a more competitive spring market. However, cautious optimism remains the tone, as both sellers and buyers assess evolving conditions.
As summer begins to set in, June will be a telling month for momentum in the Okanagan housing market.
The Stilhavn Report
Whether you are looking to buy or sell a home or investment property in the coming months, or just curious about what’s happening in your neighbourhood, The Stilhavn Report has you covered. Providing in-depth market information and monthly summaries of what’s happening in Metro Vancouver and the Okanagan, these monthly reports are the perfect starting point for first time buyers and market savvy investors alike.
Welcome to an Elevated Real Estate Experience
At Stilhavn, we continue our relentless pursuit of excellence because it’s our intrinsic belief that our clients deserve better than the status quo. When you become a client with Stilhavn you become a client for life, and it is our privilege to serve not only our local Okanagan market, but further corners within the Lower Mainland.
We keep our fingers on the pulse, we collaborate extensively across our teams, and we are committed to providing an elevated experience when it comes to your next buying or selling journey.
