Okanagan Real Estate Market Update: July 2026 Trends for Buyers & Sellers

Fewer homes sold across the region this July, but the ones that did sell went for more. Prices are firming even as activity cools, and across Central, North, and South Okanagan, inventory keeps getting tighter.

Here's the full region-by-region breakdown, what's driving it, and what it means if you're buying or selling this fall.

July 2026 At a Glance (Association-Wide)

Here's the quick version, if you just want the headline numbers before we dig in: association-wide, 1,496 homes sold in July — down 2.2% from a year ago. But those sales added up to $1.08 billion in total dollar volume, up 3.3% year-over-year. Active listings sat at 9,630, down 7.8%, and new listings came in at 2,569, down 12.1%.Within that association-wide total, the three Okanagan sub-regions — Central, North, and South — accounted for 774 of those sales and $629.8 million of that volume. Here's how each one performed.

A question I've been getting a lot lately: are prices actually dropping? Not broadly, no. Dollar volume is up 3.3% association-wide, and Central Okanagan's benchmark prices for both single-family homes and condos climbed too. A few segments — Central Okanagan townhouses and North Okanagan condos among them — saw small dips in benchmark price, but nothing that points to a real downturn. What's actually happening is a little more nuanced than a simple "market's down" headline, so let's walk through it region by region.

Central Okanagan: Still the Region's Anchor

Central Okanagan held remarkably steady in July, with 438 sales — essentially flat at -0.2% year-over-year — but dollar volume jumped 13.6% to $403.8 million. That combination tells a clear story: buyers are still showing up, and they're paying more for what's available. Active listings fell 14.3% and new listings dropped 16.6%, so the supply squeeze is real even where sales are holding.

Single-Family Homes (excluding lakefront): 

- 205 sales (+3.5%)

- Benchmark price $1,072,400 (+2.3%)

- averaging 53 days on market (-3.8%, meaning homes are actually moving faster than a year ago)

- Inventory sits at 1,273 (-18.4%).

Townhouses: 

- 70 sales (+14.8%) — the strongest sales growth of any property type in the region 

- Benchmark price $709,500 (-2.4%)

- 66 days on market (+21.4%)

- Inventory: 418 (-3.5%).

Condos/Apartments: 

- 107 sales (-7.0%)

- Benchmark price $490,700 (-2.0%)

- 72 days on market (+7.6%)

- Inventory: 787 (-17.9%)

Neighbourhood Spotlight: Central Okanagan

A few pockets stood out for single-family activity this month: Upper Mission (17 sales, +112.5% YoY), Rutland South (12 sales, +100%), Black Mountain (10 sales, +100%), Westbank Centre (12 sales, +71.4%), and Lower Mission (17 sales, +70%) all saw sharp year-over-year gains in transaction volume. If you're curious how your own street or neighbourhood is doing, that local detail can matter more than the region-wide averages — speak to your Realtor® or reach out to me for a personalized breakdown.

North Okanagan: A Steeper Pullback, But Prices Hold

North and South Okanagan told a different story this month, with both regions seeing noticeably steeper sales declines than Central. In North Okanagan, sales fell 5.3% year-over-year to 162 units, and dollar volume slipped 3.4% to $116.2 million. Active listings dropped 14.0%, and new listings fell sharply — down 27.1%, the steepest new-listing decline of the three Okanagan regions.

Single-Family Homes: 

- 91 sales (+5.8%)

- Benchmark price $782,100 (+1.9%)

- 73 days on market (+21.9%)

- Inventory: 403 (-24.1%)

Townhouses: 

- 17 sales (-41.4%)

- Benchmark price $561,000 (+3.2%)

- 66 days on market (-2.4%, actually a bit faster)

- Inventory: 128 (-10.5%)

Condos/Apartments:

- 9 sales (-18.2%)

- Benchmark price $316,200 (-0.4%)

- 62 days on market (-7.2%)

- Inventory: 95 (+14.5%)

The takeaway here: single-family sales in North Okanagan are actually up and prices are holding, even as the region's overall sales count and new listings pulled back. It's the townhouse and condo segments doing the heavy lifting on the region's overall decline.

South Okanagan: The Softest Region This Month

South Okanagan saw the biggest year-over-year sales drop of the three, down 9.8% to 174 units, with dollar volume down 10.7% to $109.8 million. Active listings fell 14.9% — the steepest inventory decline association-wide — and new listings dropped 22.0%.

Single-Family Homes: 

- 75 sales (-10.7%)

- Benchmark price $761,000 (+1.5%)

- 76 days on market (+15.8%)

- Inventory: 545 (-20.2%)

Townhouses:
- 21 sales (-22.2%)
- Benchmark price $509,600 (+1.4%)
- 82 days on market (-8.2%, a bit faster than last year) 

- Inventory: 146 (+7.4%, one of the only segments to see inventory grow).

Condos/Apartments: 

- 27 sales (-25.0%)

- Benchmark price $438,100 (+1.0%)

- 143 days on market (-18.4%)

That 143-day average is still the longest of any segment in the Okanagan — condo buyers in South Okanagan have real negotiating room right now, even though it's an improvement over last year's pace.

Days on Market: Where Buyers Have the Most Leverage

Days-on-market shifts are one of the clearest signals of where negotiating power is moving. A few stand out this month:

• North Okanagan single-family homes are taking the longest to sell relative to last year, up to 73 days (+21.9%) — buyers here have more room to negotiate on price and conditions.
• Central Okanagan townhouses are also slowing, up to 66 days (+21.4%), even as sales volume for that segment grew.
• South Okanagan condos, despite improving to 143 days, remain the slowest-moving segment in the Okanagan overall — worth watching if you're pricing a condo listing in that region.
• Conversely, Central Okanagan single-family homes are moving faster than last year (53 days, -3.8%), reflecting continued strong demand for that segment specifically.

How the Okanagan Compares to the Rest of the BC Interior

For context, the Association of Interior REALTORS® tracks seven sub-regions in total. While Central, North, and South Okanagan cooled or held flat this month, other interior regions moved in different directions — Kootenay posted a modest gain (+2.6% sales), while Shuswap/Revelstoke saw a sharper pullback (-17.1% sales). It's a good reminder that "the market" isn't one thing — even within a 90-minute drive, conditions can vary a lot by sub-region and property type.

Inventory Keeps Tightening Across the Board

Sales dropping while prices hold might seem contradictory, but supply explains a lot of it. Active listings fell 7.8% association-wide, with South Okanagan down the most at 14.9%. New listings dropped even more sharply — down 12.1% overall, and as much as 27.1% in North Okanagan. Fewer homes are coming to market, which typically means less negotiating room for buyers as we head into fall — even in segments where days-on-market is currently stretched out.

Fewer new listings mean fewer opportunities for buyers to transact — not necessarily less demand. When there's simply less to buy, some of that demand doesn't disappear; it just waits, or it competes harder for what is available. That's a big part of why we're seeing values hold or climb even as the pace of sales slows.

What This Means If You're Buying

So, is now actually a good time to buy? It really depends on what you're shopping for. If you're eyeing single-family homes in North or South Okanagan, or condos in South Okanagan, longer days-on-market currently hand you more negotiating room than buyers had a year ago — that's real leverage worth using. If you're focused on Central Okanagan, though, where inventory is tightest and homes are moving faster than last year, the calculus changes: you'll want to be decisive and ready to act the moment the right listing appears, rather than counting on extra time to think it over.

Across the board, shrinking new listings mean your options may narrow before winter. Getting pre-approved and ready to move quickly on the right property matters more than ever, because when the right home does hit the market, you may not have long to act.

What This Means If You're Selling

If you're on the selling side, here's the good news: values are holding or climbing in most segments even as the pace of sales slows. Central Okanagan's 13.6% volume growth on essentially flat sales is a strong signal that buyers are still willing to pay for the right property. Pricing strategically and presenting your home well will matter more than ever in a market where buyers have a little more time to compare options before committing. If your property type or neighbourhood is seeing longer days-on-market, that's not necessarily a red flag — it's information you can use to set expectations and negotiate from a position of knowledge rather than guesswork.

Featured Listings

Curious what's currently available? A couple of properties worth a look:

• 10319 42 Avenue, Osoyoos — $2,999,000
• 970 Keyes Court, Kelowna — $849,000
• 151 Molnar Road, Kelowna — $679,000

Let's Talk Strategy

Whether you're buying before competition intensifies or selling while values keep climbing, a clear strategy makes all the difference in a market like this one.

📩 Book a free 20-minute strategy call and let's map out your next move together.
✉️ info@kararosart.com | 📞 250-863-1274