March North Okanagan Real Estate Report 2025

NORTH OKANAGAN MARCH 2025 OVERVIEW

Scroll to see what happened in North Okanagan real estate in MARCH 2025.

Local Residential Real Estate Showing Healthy Inventory ahead of Spring

KELOWNA, B.C. – April 4th, 2025. 

Residential real estate sales in March maintained a steady pace, supported by healthy inventory levels, reports the Association of Interior REALTORS® (the Association). A total of 1,143 residential unit sales were recorded across the Association region in March, coming in above February’s 914 units and up 11.9% compared to units sold in March last year.

New residential listings saw a moderate increase of 3% compared to March 2024 with 3,214 new listings recorded last month. The total number of active listings saw an 8.3% increase in total inventory compared to March 2024 with 8,374 recorded across the Association region. 

The highest percentage increase in active listings across the Association region for a second consecutive month was in Central Okanagan with a total increase of 14.3% compared to the same month last year. “While market activity may have felt somewhat subdued across the region compared to previous years, we still saw the typical seasonal uptick that usually comes as we head into the busy spring market,” says the Association of Interior REALTORS® President Kaytee Sharun, adding “while the broader economic uncertainty surrounding tariffs may be contributing to an atmosphere of hesitation, home sales and inventory levels are maintaining a healthy pace, as demand and the need for housing remain strong.

" In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw increases last month in all regions in year-over-year comparisons with the highest increase of 7.2% seen in the South Okanagan region, coming in at $771,100. Similarly, in the townhome housing category, benchmark prices saw increases in all regions with the South Okanagan seeing the highest percentage increase of 6.4%, coming in at $529,100. 

The benchmark pricing for condominiums recorded the South Okanagan being the only region that saw a decrease of 3.6%, while the Revelstoke/Shuswap, Central and North Okanagan all saw increases of 4.2%, 4.1% and 5.3% respectively.

Provincially Speaking

Tariff Fears Sideline Buyers in March

Vancouver, BC – April 14, 2025. The British Columbia Real Estate Association (BCREA) reports that 5,917 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in March 2025, down 9.6 per cent from March 2024. The average MLS® residential price in BC in March 2025 was down 4.8 per cent at $963,323 compared to $1,011,965 in March 2024.

The total sales dollar volume was $5.7 billion, a 13.9 per cent decrease from the same time the previous year. BC MLS® unit sales were 35 per cent lower than the ten-year March average.

“Buyers continued to shift back to the sidelines in March,” said BCREA Chief Economist Brendon Ogmundson. “The economic uncertainty surrounding potential tariffs on Canadian goods has some potential buyers hesitant, particularly in the province’s larger markets.”

Year-to-date, BC residential sales dollar volume is down 8.1 per cent to $14.5 billion, compared with the same period in 2024. Residential unit sales are down 5.2 per cent year-over-year at 15,160 units, while the average MLS® residential price is also down 3.1 per cent to $959,400.