The August Market
August in the Okanagan brings busy days filled by lakefront activities and community events. The region remains a hub for tourism and lifestyle, even as households and businesses begin preparing for the shift into fall routines. In the real estate market, demand stayed consistent, supported by lifestyledriven interest and a stable supply of listings, positioning the region for a measured transition into the months ahead. Residential real estate sales held firm in August despite the typical seasonal dip in activity.
Residential Market Overview
According to the Association of Interior REALTORS®, a total of 1,319 residential unit sales were recorded across the Association region in August, coming in below July’s 1,534 units, yet up 8.8% compared to units sold in August last year
Kadin Rainville, President of the Association, notes:
“Real estate activity softened toward the end of the month, which is not uncommon, when seasonal patterns and summer activities often play a role in moderating market activity. However, sales still outperformed last year’s pace, underscoring a positive trend of the last few months despite lingering economic uncertainty,” said Kadin Rainville, President of the Association. “It’s encouraging to see the market continuing to build momentum and signaling recovery, particularly when compared to some of the other markets across the province.”
Inventory
New residential listings saw a 4.2% decrease compared to August 2024 with 2,511 new listings recorded last month. The total number of active listings saw a 0.3% decrease in inventory compared to August 2024 with 10,163 recorded across the Association region. The highest percentage increase in active listings across the Association region for a second consecutive month was in North Okanagan with a total increase of 4.5% compared to the same month last year.
Home Sales by Property Type
In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw increases last month in all sub-regions in year-overyear comparisons with the highest percentage increase of 3.2% seen in the Central Okanagan region, coming in at $1,050,900.
The townhome housing category saw benchmark price decreases in the Central and South Okanagan, while the North Okanagan and Shuswap/Revelstoke regions saw increases of 3.0% and 1.7% compared to August 2024, coming in at $609,200 and $568,000 respectively.
The benchmark pricing in the condominium housing category recorded South Okanagan being the only region that saw an increase of 1.7% compared to the same time last year, coming in at $422,900.
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.
