Sales Activity
Residential real estate sales held steady in September despite the typical seasonal dip in activity, reports the Association of Interior REALTORS® (the Association). A total of 1,242 residential unit sales were recorded across the Association region in September, down from August’s 1,319 units, yet up 17.8% compared to units sold in September last year.
Active Listings
New residential listings saw a 9.8% increase compared to September 2024 with 2,643 new listings recorded last month. The total number of active listings saw a 0.3% decrease in inventory compared to September 2024 with 9,853 recorded across the Association region. The highest percentage increase in active listings across the Association region was recorded in the Kamloops and District with a total increase of 9.7% compared to the same month last year.
“Real estate markets rarely move in a straight line and modest fluctuations from month to month are a normal part of the cycle. After being impacted by economic factors in the first half of the year, today’s trends reflect resilience and recovery,” says Association of Interior REALTORS® President Kadin Rainville, adding that “the fact that figures are stronger than last year, with active listings shrinking as sales climb, is an encouraging indicator that the market is gaining strength and stability.”
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 North Okanagan, which saw a decrease of 1.4%, coming in at $753,500. The townhome housing category saw benchmark price decreases in the Shuswap/Revelstoke, North and South Okanagan, while the Central Okanagan region saw an increase of 1.6% compared to September 2024, coming in at $736,500. 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 $421,300.
“While today’s balanced conditions may ease the sense of urgency, it’s a sign of a healthy market finding its footing, providing buyers more breathing room and allowing sellers to navigate their options with confidence, which ultimately creates a healthier environment for thoughtful decisions on both sides,” notes Rainville.
