KELOWNA, B.C. – January 6th, 2025 – Residential real estate activity in December tracked close to normal levels, resulting in a healthy conclusion to the year, reports the Association of Interior REALTORS® (the Association).

A total of 788 residential unit sales were recorded across the Association region in December, down from November’s 939 units, yet up 10.4% compared to units sold in December 2024.

New residential listings saw a 9.6% increase compared to December 2024 with 1,017 new listings recorded last month. The total number of active listings saw a 0.5% decrease in inventory compared to December 2024 with 6,686 recorded across the Association region. The highest percentage increase in active listings across the Association region was recorded for a third consecutive month in the North Okanagan with a total increase of 11% compared to December 2024.

“Despite navigating a year of economic shifts, policy changes, and evolving buyer and seller behavior, the residential real estate market wrapped up the year on steady ground,” says Association of Interior REALTORS® President Kadin Rainville, adding that “activity finishing within the 10-year average range reflects a market that has largely recalibrated and normalized, setting a positive and stable foundation as we move into 2026.”

In the Kootenay and Boundary region, 153 sales were recorded last month, marking a 25.4% increase compared to December 2024, yet down from November’s 193 units sold. There were 174 new listings recorded in the Kootenay and Boundary region in December marking an 8.1% increase compared to the same month the previous year, yet down from November’s 254 new listings. The overall active listings in the Kootenay region saw a 4.3% decrease compared to December 2024 with 1,189 listings recorded.

“The Kootenay real estate market recorded activity levels consistent with what we typically expect in December, with prices holding relatively stable across much of this diverse region,” says Rainville, adding that “while inventory constraints typically place upward pressure on prices, the increase in new listings is a positive development as we head into the new year.”
The benchmark price, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes”, saw percentage increases in the Kootenay region in the single-family and townhome housing categories compared to the same month the previous year, of 1.6% and 1.1% increases respectively; coming in at $598,500 and $500,000. In the condominium housing category, benchmark price saw a decrease of 3.8% in year-over-year comparison, coming in at $324,700.

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About the Association of Interior REALTORS®:

The Association of Interior REALTORS® is a member-based professional organization serving approximately 2,600 REALTORS® who live and work in communities across the interior of British Columbia including the Okanagan Valley, Kamloops and Kootenay regions, as well as the South Peace River region.

The Association of Interior REALTORS® was formed on January 1, 2021 through the amalgamation of the Okanagan Mainline Real Estate Board and the South Okanagan Real Estate Board. The Association has since also amalgamated with the Kamloops & District Real Estate Association and the Kootenay Association of REALTORS®.

For more information, please contact:

Association statistical information:
Email media@interiorrealtors.com

Province-wide statistical information:
BCREA Chief Economist, Brendon Ogmundson, bogmundson@bcrea.bc.ca

About HPI®:

The MLS® Home Price Index (HPI) is the most advanced and accurate tool to gauge home price levels and trends by using benchmark pricing rather than median or average. It consists of software tools configured to provide time-related indices on residential markets of participating real estate boards in Canada.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA (REALTOR®/ REALTORS®.