Okanagan Real Estate Market Update – January 2026
A Seasonal Slowdown, Not a Signal: What the Numbers Are Really Telling Us
January is traditionally the quietest month of the year for real estate across the Interior of British Columbia—and January 2026 followed that pattern almost perfectly. Fewer listings, fewer sales, and cautious buyers waiting for spring. But when you dig into the data, the story is far more nuanced than the headlines suggest.
Let’s break down what’s actually happening across the Okanagan, Shuswap, and Revelstoke markets.
Sales Pulled Back — As Expected for January
Across the Association of Interior REALTORS® region, 623 residential properties sold in January 2026, down 22.3% year-over-year. Dollar volume followed suit, declining 20.9% to $408.1 million.
This slowdown was broad-based:
-
Central Okanagan: 203 sales (? 15.8%)
-
South Okanagan: 70 sales (? 33.3%)
-
Shuswap / Revelstoke: 36 sales (? 26.5%)
-
North Okanagan: 79 sales (? 1.3%)
While these declines may look dramatic on paper, it’s important to remember that January sales are heavily influenced by weather, holidays, and buyer psychology, not just market fundamentals.
Inventory Is Stable — Not Flooding the Market
Despite lower sales, active listings only declined 2.5% year-over-year across the region, finishing January at 6,647 active listings. This is a key takeaway.
-
Sellers did not rush to exit the market
-
Inventory remains controlled
-
No signs of distressed or panic-driven selling
In fact, new listings were also down 9.5%, reinforcing that many homeowners are choosing to wait for better spring conditions rather than test the winter market.
This is not the behaviour of a weakening market — it’s the behaviour of a patient one.
Home Prices Are Holding Remarkably Steady
Perhaps the most important story in the January 2026 data:
Benchmark prices showed resilience across most property types and regions.
South Okanagan Single-Family Homes
-
Benchmark prices remain in the mid-to-high $700,000 range
-
The long-term Home Price Index graph shows price stability through 2024–2025, even as sales volumes fluctuated seasonally
Property-Type Snapshot (January 2026)
-
Single-family homes: Prices largely flat, slight softening in select sub-markets
-
Townhomes: Modest declines in some areas, but price support remains strong
-
Apartments/Condos: Most resilient segment, with prices showing minimal movement
In short: prices are not falling — they’re pausing.