Vernon's real estate market remains in buyer's territory heading into summer 2026, though the numbers suggest things could start to shift. May saw 154 total sales across all property types in the North Okanagan, down 4.3% year-over-year, while active listings dropped 7.4% and new listings fell roughly 20% compared to this time last year. With just over 6.5 months of inventory, buyers still have the upper hand, but declining supply is slowly tightening the market.
For single-family homes, the market is hovering right at the edge of balanced territory. The benchmark price for a detached home in the Vernon area sits at $757,000 — roughly $300,000 less than the Kelowna area — making it one of the more affordable entry points for buyers in the Okanagan. Days to sell are around 51 based on last listings, though factoring in relisted properties, expect closer to 60–70 days on average.
Townhomes are sitting in a balanced market at 5.35 months of inventory, with 23 sales in May and a benchmark price just over $560,000, up 3.8% year-over-year. Compare that to Kelowna's benchmark of around $700–$725,000, and Vernon represents meaningful value for buyers weighing their options across the Okanagan.
The condo market in Vernon is actually holding up better than many other Okanagan areas. Condo sales increased year-over-year to 16 units, while the benchmark price sits at $322,000 — nearly unchanged from last year. Inventory has crept up slightly, putting condos just into buyer's market territory, but the benchmark price of $322,000 remains one of the most affordable condo entry points in the entire valley.
If you're a buyer, you still have good selection and negotiating room, especially for detached homes. If you're a seller, pricing correctly and presenting well matters more than ever — particularly with new listings falling and the market slowly tightening. If you'd like to talk through how these numbers apply to your specific situation in Vernon or the North Okanagan, reach out anytime.
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