February in the Okanagan offers a breathtaking backdrop for winter walks and quiet reflection. Whether enjoying the local wineries, exploring scenic trails, or embracing the warmth of community events, the Okanagan region exudes a distinct charm that makes winter here truly special.
In real estate, February saw consistent sales activity, proving that buyer demand remains strong even as new listings slowed slightly, reports the Association of Interior REALTORS®^. With steady momentum in residential real estate, the market continued to move at a healthy pace, offering opportunities for both buyers and sellers.
Residential Home Sales
A total of 914 residential unit sales* were recorded across the Association region in February, coming in above January’s 806 units and up 11.3% compared to units sold in February last year.
Inventory
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 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 19.7% compared to the same month last year.
Home Sales by Property Type
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.
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.
