More than 1,500 residential units were sold in markets covered by the Association of Interior Realtors (AIR) in July.
The 1,534 residential unit sales marks a slim increase over the 1,494 sales in June and a nearly 10% increase over the number of units sold in July 2024.
The Association calls it a “healthy dose of normal activity” following a “sluggish summer start.”
“For the second month in a row, market activity continues to trend in a positive direction, even with stabilized inventory momentum,” explained AIR president Kadin Rainville.
“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.”
In the Okanagan, all three sub-regions saw increases in units sold, dollar volume and active listings in July compared to the same month last year.
The only decrease in numbers was new listings in the South Okanagan, down a meager 1.9% compared to July 2024. Kamloops and the surrounding areas also saw increases across the board.
The benchmark price for a single-family home in the Central Okanagan continues to be in seven figures at $1,045,000, with townhouses at $724,700 and condos or apartments a hair over $500,000.
Those three numbers for the North Okanagan are $770,500, $563,100 and $320,700 respectively. In the South Okanagan, they’re $754,500, $511,500 and $432,100.
In the Kamloops region, the benchmark price for a single-family home is $673,200 and it’s $532,900 for a townhouse, which are both increases. The benchmark price for a condo or apartment fell for a fourth straight month to $363,100.
“Little to no major movement in price shifts reflects a broader trend toward market recovery,” added Rainville. “In this environment, accurately priced homes continue to perform well, while those that exceed current thresholds are increasingly likely to lag in buyer interest.”
For more information on the AIR and in depth monthly reports on each region, click this link.
