North, Central Okanagan close out year with increased home sales

December was more of a seller’s market in the North and Central Okanagan.

The Association of Interior Realtors data from the final month of 2024 showed that there were 83 homes sold in the North Okanagan and 251 sold in the Central Okanagan. Those figures were both up more than 40 per cent compared to sales recorded in December of 2023.

The sales in the North Okanagan translated to $59.7 million, while those in the Central Okanagan were valued at $205.3 million. Those figures were also up more than 30 per cent from the same month the year prior.

The Association of Interior Realtors report stated the benchmark prices for single family homes in the North Okanagan rose on an annual basis to $756,800.

However, prices for townhouses and condominiums and apartments in the North Okanagan declined on an annual basis, falling to $544,000 and $310,000, respectively.

Meanwhile, the Central Okanagan saw benchmark prices for single family homes and townhouses increase on a year-over-year comparison, climbing to $1,02,700 and $746,400, respectively. Condo and apartment prices in the Central Okanagan did take a slight dip, falling to $475,500 in December.

The association’s monthly report noted that sales throughout the Interior rose on an annual basis, with 716 residential units sold during the month in question.

“Overall, sales in December reflected the type of activity we usually see for the time of year, which is generally one of the slower months given the holidays typically putting a temporary pause on many home buying ventures,” Association of Interior Realtors president, Kaytee Sharun said.

“Listings in the last quarter did see a decent spurt of activity which should make for a fairly decent hand off for the new year in providing potential buyers more options.”

The report noted that active and new listings also increased in December, but Sharun said “it remains to be seen whether listing activity will sustain its momentum in the coming year, which could help mitigate potential upward pressure on prices.”

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