South Okanagan Real Estate Market Update – Week Ending November 28, 2025

Buyers Still Hold the Cards as Penticton Leads Weekly Sales

This week’s South Okanagan numbers confirm what many buyers and sellers are feeling: it is still very much a buyer’s market, but the story is getting more nuanced as sales pick up and high-end properties continue to trade. With Penticton leading the way in weekly sales and strong activity in the mid-range price band, strategy matters more than ever—especially if you’re trying to time a move into or out of the Penticton area.​

Quick Snapshot: South Okanagan This Week

Across all property types—residential, manufactured, lots, acreage, and commercial—activity ticked up compared with last week.​

• New Listings: 32

• Price Changes: 26 (mostly reductions)

• Firm Sales: 38

• Conditional Sales: 0

• Off-Market (expired/cancelled/on hold): 40

• Active Inventory: 1,659 (slight drop from last week)

• Months of Inventory (MOI): about 10.2 months – still clearly a buyer’s market

This means buyers continue to have leverage, but the market is not stalling; it’s slowly adjusting through price changes and selective, motivated sales.​

Key Metrics: Prices, Volume, and Days on Market

The 38 completed sales this week produced solid volume and a wide price spread.​

• Average Sale Price: about 780,090

• Median Sale Price: about 582,500

• Average Days on Market (DOM): about 104 days

• Total Sales Volume: about 29.64 million

At the upper end, the highest purchase was a 5,100,000 single-family home in Trout Creek, Summerland, while the lowest purchase was a 27,500 fractional/interval apartment in Osoyoos, plus a small 14 lease deal on a retail unit there. The 104‑day DOM reinforces that buyers still feel no urgency and are using time as a negotiation tool.​

Property Types: Where the Action Really Is

The dominant story by property type is that detached homes still lead, but townhomes, condos, and manufactured homes continue to play a big role—especially for buyers looking for affordability or transition housing.​

• Single Family Detached (no acreage): 18 sales, average around 1,048,000, range 480,000–5,100,000

• Apartments / Condos: 6 sales, average about 307,000, range 27,500–425,000

• Townhouses & Half Duplex: 4 sales, average about 518,000, range 302,000–742,500

• Manufactured / Park Model (in park & on land): 4 sales, average about 388,000, range 182,000–565,000

• Residential Lot: 1 sale at 170,000 (Apex)

• Acreage (Single Family with Acreage): 1 sale at 3,000,000 (Naramata Rural)

• Commercial / Retail / Office / Services: 4 deals, average ticket around 538,000, including leases and two larger sales at 900,000 and 1,250,000​

For anyone watching townhomes and half duplexes in particular, this week again shows they are a key “middle lane” in the market—popular with move‑up buyers, downsizers, and people prioritizing payment comfort and lifestyle over maximum square footage.​

Penticton Leads, But the Valley Is Moving

Penticton once again showed why it is the hub of South Okanagan real estate, both in volume and in diversity of product.​

• Penticton (all PE subareas): 17 sales, average around 705,000 – a mix of apartments, townhomes, detached homes, and commercial

• Osoyoos: 8 sales, average about 337,000 – from fractional condos to single family up to about 650,000

• Summerland: 3 sales, average about 2.17 million – including a standout waterfront sale in Trout Creek at 5.1 million

• Oliver: 3 sales, average about 631,000 – a manufactured in park plus two detached homes up to 830,000

• Naramata: 3 sales, average about 1.61 million – village, rural, and a 3.0 million acreage

• Kaleden / OK Falls: 1 sale at 725,501 (detached)

• Keremeos / Olalla: 2 sales, average about 226,000 – park model and manufactured in park

• Princeton / Hedley: 1 sale at 565,000 (manufactured on land)​

This reinforces a useful takeaway: while luxury and acreage product are still trading in places like Trout Creek and Naramata, the heartbeat of day‑to‑day activity remains in Penticton and the mid-range brackets.​

Price Bands: The Core of the Market Is Still 400K–800K

Looking at all 38 transactions this week, the 400,000–800,000 band continues to be the core of the South Okanagan market.​

• Under 400,000: 10 sales (about 26%)

• 400,000–800,000: 19 sales (about 50%)

• 800,000–1.2M: 5 sales (about 13%)

• 1.2M–2.0M: 1 sale (about 3%)

• 2.0M+: 3 sales (about 8%), driven by high‑end product in Trout Creek and Naramata​

For buyers who are flexible on location but have a firm budget, this band gives the best mix of selection and leverage, particularly in and around Penticton.​

What This Market Means for Sellers

With about 10.2 months of inventory and DOM near 104 days, this is still firmly a buyer‑favoured environment.​

• Plan realistically for 90–120 days on market, especially above 800,000.

• Overpricing out of the gate risks long stagnation followed by chasing the market down with reductions.

• Buyers are informed and patient—they compare aggressively online before ever booking a showing, and they expect value relative to competing listings.​

The sellers who win right now are the ones who embrace honest pricing conversations, present their homes in top shape, and are prepared to negotiate on both price and terms when the right buyer appears.​

What This Market Means for Buyers

If you are pre‑approved and ready, this is your kind of market.​

• High inventory and triple‑digit DOM mean you have time to compare, negotiate, and walk away if a deal does not feel right.

• Around three‑quarters of weekly activity is under 800,000, so that’s where selection is strongest while still offering negotiating room.

• The high‑end segment is moving, but at a measured pace, creating opportunities for lifestyle or move‑up buyers who can capitalize on softer conditions and less competition.​

Being a clean, ready offer—flexible dates, fewer conditions, and solid financing—can unlock better pricing and terms when a motivated seller finally decides it is time to get the property sold.

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

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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