Sales Activity
Residential real estate sales in February maintained a steady momentum while new listings activity tempered slightly, reports the Association of Interior REALTORS® (the Association).A total of 914 residential unit sales were recorded across the Association region in February, coming in above January’s 806 units and up 11.3% compared to units sold in February last year. New residential listings saw a moderate decrease of 1.7% compared to February 2024 with 2,304 new listings recorded last month.
Listings
The total number of active listings saw an 11.8% increase of total inventory compared to February 2024 with 7,346 recorded across the Association region. The highest percentage increase in active listings across the Association region for a consecutive month was in Central Okanagan with a total increase of 19.7% compared to the same month last year.
“Overall, it was a relatively steady month for real estate transactions, despite a slight decline in new listings,” says the Association of Interior REALTORS® President Kaytee Sharun, adding
“typically we see a seasonal uptick in momentum leading into the spring market. However, external factors—such as economic uncertainty and the potential impact of tariffs—may be among the influences causing a slight easing off the accelerator in real estate activity."
Pricing
The benchmark price for single-family homes saw increases last month in all regions in year-over year comparisons with the highest increase of 6.7% seen in the Revelstoke/Shuswap region, coming in at $731,800.
In the townhome housing category, benchmark prices saw decreases or no percentage changes in all housing categories apart from the South Okanagan that saw an increase of 6.3%, coming in at $523,000.
Similarly, benchmark pricing for condominiums recorded the South Okanagan being the exception with a decrease of 6.7%, while the Revelstoke/Shuswap, Central and North Okanagan saw slight increases.
