It’s officially spring, and the market is starting to show it.
March brought more listings, more sales, and a touch more energy to the Central Okanagan real estate scene. Whether you’re thinking about making a move or just watching from the sidelines, here’s a look at what changed last month and what it might mean going forward.
What Changed from February to March 2025?
Sales Increased
344 residential properties sold in March, up from 271 the month before. That’s a 27% increase in sales month-over-month.
More New Listings
There were 1,185 new residential listings in March, compared to 903 in February. That’s a 31% increase, giving buyers a wider range of options heading into spring.
Inventory Continued to Grow
The number of active listings rose to 3,024, up from 2,640 in February – a 15% increase in overall inventory.
Home Prices Shifted Slightly
Price trends differed slightly depending on the property type. Here’s how things looked in March:
Single-Family homes: $1046,800 (up from $1,036,900)
Townhomes: $750,600 (up from $730,100)
Condos: $504,500 (down from $513,400)
Compared to This Time Last Year
Total Sales
Sales were 16% higher than in March 2024, reflecting more buyer activity this year.
New Listings
There was a small decrease in new listings compared to last year – down 0.25% year-over-year.
Active Listings
Inventory is 14% higher than it was in March 2024. That means buyers have more choice this spring than they did at the same time last year.
Benchmark Prices (Year-over-Year Changes):
- Single-Family homes: up 5.4%
- Townhomes: up 2.0%
- Condos: up 4.2%
A Quick Note for Buyers and Sellers
If you’re buying:
There’s a wider selection of homes compared to earlier this year, and prices have stayed fairly steady. This could be a good time to get familiar with what’s out there, especially if you’re hoping to make a move this spring or summer.
If you’re selling:
Buyers are active, but inventory is higher than it was last year, so standing out matters. Homes that are well-priced and show well are still attracting interest.
Final Thoughts
March showed a clear increase in activity across the Central Okanagan. More homes came to market, more buyers made purchases, and prices remained fairly stable both month-over-month and year-over-year. Whether you’re planning to buy, sell, or just keeping an eye on the market, staying informed with current data can be helpful as you consider your next steps.
If you’d like to talk more about what these trends could mean for your plans, I’m always happy to connect. Get in touch here.
