February and March had me optimistic that 2026 would outperform 2025, but April and May numbers came in lower. May sales across the Central Okanagan were down 3.8% year-over-year and sit about 17% below the 10-year average. Listings remain elevated at 26% above the 10-year average, though that's an improvement from last year's record highs, down 11% year-over-year.
Single-family homes are telling a similar story, sales down 6.8% from last year, but months of inventory has tightened to around 6.5, putting that segment close to balanced market territory. The bulk of single-family sales are happening in the $700,000 to $1.1 million range.
On pricing, the benchmark single-family home price has actually crept up over the past few months to just over $1.06 million, though it's still about 12% below the March 2022 peak. Days on market for single-family homes are sitting around 50 days at the final list price.
If you're selling, presentation and pricing remain the biggest factors in how quickly and for how much your home sells. If you're buying, there's still room to be patient in this market. I'm happy to help you figure out what makes sense for your situation.
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