South Okanagan Real Estate Market Update – Week Ending November 21, 2025

Market at a Glance: Deep Buyers’ Market, Steady Activity

As we round out November, the South Okanagan market keeps showing us why it pays to be both strategic and patient whether you’re buying, selling, or simply watching the trends for your next big move. With the holidays near, activity slows, prices adjust, and the “wait and see” mood still has its grip on buyers and sellers alike.

Here’s my breakdown for Penticton, Summerland, Oliver, Osoyoos, Princeton, and all South Okanagan communities delivered with my local perspective to help you stay a step ahead.

Quick Stats Snapshot

• New Listings: 47

• Firm Sales: 24

• Conditional Sales: 1

• Price Changes: 33 (mainly reductions, just 1 increase)

• Off-Market (expired/cancelled): 56

• Active Inventory: 1,702 properties

• Months of Inventory (MOI): 16.5—deep buyers’ market territory

• Average Sale Price: $591,000

• Median Sale Price: $522,500

• Days on Market (DOM): 121 (headline), 78 adjusted (excluding 3-year outlier condo)

The Market Pulse This Week

South Okanagan’s real estate continues to favour buyers. With only 24 firm sales versus a whopping 1,702 active listings, turnover is exceptionally slow about 6% of inventory selling monthly, meaning buyers hold the cards in negotiations. Inventory isn’t ballooning, however; it’s actually slipping downward as more listings expire or cancel than get snapped up by new owners. That keeps hope alive for sellers thinking of holding out for better days.

Chart 1: Sales by Property Type, South Okanagan, Week Ending Nov 21, 2025
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Detached homes still lead, but condos/townhomes and manufactured homes are seeing steady action—especially when priced aggressively. This aligns perfectly with our local reality: the most “move-ready” buyers are those looking for affordability, downsizing, or simpler maintenance.

How Are Properties Moving? Price Bands and Patterns

Chart 2: Sales by Price Band, South Okanagan, Week Ending Nov 21, 2025
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• Under $400k: 9 sales

• $400k–$800k: 10 sales (the heart of the market)

• $800k–$1.2M: 4 sales

• $1.2M–$2M: 1 sale

• Above $2M: 0 sales

Nearly 80% of all weekly sales were under $800k a clear sign that buyers are firmly focused on value. The upmarket above $800k continues to swell with new listings but few takers. If you own in this range and want to sell, a proactive pricing plan is critical.

Average Days on Market: What’s Real?

Chart 3: Average Days on Market (DOM), South Okanagan, Nov 21, 2025
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The official DOM is 121 days, but that figure is skewed by an ultra-stale condo sale (on the market for almost 3 years!). Removing that, the real market feels like property sells within 78 days on average, or about 2.5 months. Not fast—but properties priced to the current reality do move.

Activity by Area: Penticton Remains Centre Stage

Sales by Community (this week):

• Penticton: 10

• Osoyoos/Rock Creek: 5

• Summerland (town & rural): 3

• Oliver/Rural: 3

• Princeton Area: 3

The demand isn’t hot in any one pocket but activity is steady, favouring established communities and those offering value (mid-range and townhomes especially). Penticton leads, but there’s a broad spread across the valley.

For Sellers: Facing the Stand-Off

This is a patience-testing, price-sensitive market. Here are your must-knows:

• If your home is over $800k, be prepared for longer waits and more haggling. Serious movement happens below this bracket.

• You can’t force buyer motivation—no matter how great your marketing, buyers right now are cautious and focused on the bottom line.

• If you need to sell (taxes, downsizing, life changes), price aggressively to the homes that are moving—not to last year’s best-case numbers.

• If selling isn’t required, be ready for the long game, with possible price drops ahead.

• The slow, silent market adjustment comes through “shadow inventory”—properties quietly leaving the market or reducing price.

For Buyers: It’s Your Market But Patience Is Still Power

With 16.5 months of inventory, buyers can compare, negotiate, and walk away. Here’s how to get the edge:

• Look under $800k: That’s where the selection and negotiating power are strongest.

• Townhomes and condos: These are the sweet spots for downsizers, first-timers, and transition buyers.

• If considering above $1M, know there’s inventory and choice, but less liquidity (harder to resell, fewer buyer competitors).

• Forget waiting for the “ultimate low”—mortgage rates are already low, and the market is stabilizing. If a property fits your needs and the monthly payment is right, you’re in a strong position.

In My Experience: Why the South Okanagan Is Unique Right Now

There’s a psychological standoff at play:

• Buyers: “Prices are dropping; I’ll wait.”

• Sellers: “I’m not desperate, I’ll wait, too.”

• The result? Sales volumes are low, and the market adjusts quietly in the background.

A few more “local” observations for your two cents:

• Downsizing trends are real many locals are trading to smaller, less expensive homes for payment comfort.

• Macro uncertainty (jobs, politics, land titles) is holding back some buyers, even as interest rates ease.

• Tech-enabled searchers many with the ability to work from anywhere continue to research now for buys later in 2026.

Frequently Asked Questions (FAQ) For This Market

Is now a good time to buy in South Okanagan?

If you’re focused on value and ready to negotiate, absolutely especially under $800k and in townhomes. Don’t wait forever for prices to drop; if the payment works, do the deal!

Is the South Okanagan a buyer’s or seller’s market?

This is a strong buyer’s market by all metrics: high inventory, slow turnover, and price-sensitive sales.

How long will it take to sell my house?

On average, expect 2.5–4 months, depending on price bracket and property style (much longer above $800k).

Are higher mortgage rates still a big factor?

Rates have eased—but they remain a headwind for some. Next month’s update will cover mortgage trends in detail.

Which area has the most activity?

Penticton leads for overall activity, but the mid-range (townhomes, transition homes) are moving best.

Connect with me if you’d like a breakdown of your home’s market position, or to discuss your best strategies for buying, selling, or investing in the South Okanagan. I’m always here to help you make the smartest real estate moves, whatever 2026 brings!

Ready to Connect?

If you’re thinking about buying, selling, or joining a forward-thinking real estate team, I’d love to connect.
I’m Riccardo (Rico) Manazza, REALTOR® with eXp Realty | South Okanagan, and part of the My Property Central Real Estate Group helping clients and agents succeed across Penticton, Oliver, Osoyoos, and beyond.

💬 Reach out anytime:
📞 Call or text: 236-457-4230
📧 Email: rico@mypropertycentral.ca
🌐 Website: www.riccardomanazza.realtor
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📅 Book a meeting: Book A Call with Rico

Let’s Stay Connected

If you enjoyed this article or want to stay in touch with what’s happening in the South Okanagan real estate market, let’s connect online:

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Disclaimer

This article is for informational purposes only and should not be considered financial or legal advice. Eligibility criteria and program details are subject to change. Always consult with a qualified mortgage professional and licensed REALTOR® for the most current information