Residential real estate sales saw a healthy dose of normal activity after sluggish summer start, reports the Association of Interior REALTORS® (the Association).
SALES
A total of 1,534 residential unit sales were recorded across the Association region in July, coming in above June’s 1,494 units and up 9.6% compared to units sold in July last year.
ACTIVE LISTINGS
New residential listings saw a 0.8% increase compared to July 2024 with 2,920 new listings recorded last month. The total number of active listings saw a 2.3% increase in inventory compared to July 2024 with 10,443 recorded across the Association region.
The highest percentage increase in active listings across the Association region was in North Okanagan with a total increase of 6.5% compared to the same month last year. “For the second month in a row, market activity continues to trend in a positive direction, even with stabilized inventory momentum,” says Association of Interior REALTORS® President Kadin Rainville, adding that
“we’re entering a more typical summer rhythm, which suggests the market is starting to recover from the turbulence caused by tariffs earlier this year.”BENCHMARK PRICE
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 region, which saw a 2.0% decrease, coming in at $754,500. The townhome housing category saw benchmark price decreases in the Shuswap/Revelstoke, Central and South Okanagan, while the North Okanagan saw a minor increase of 0.3% compared to July 2024, comihe only region that saw a decrease of 2.3% compared to the same time last year, coming in at $435,100. “Little to no major movement in price shifts reflects a broader trend toward market recovery.
In this environment, accurately priced homes continue to perform well, while those that exceed current thresholds are increasingly likely to lag in buyer interest,”notes Rainville.
