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More inventory and sales, along with higher prices, were the main themes of the Interior housing market report for March that was released on Friday.
There were 1,143 residential sales across the Association of Interior Realtors region last month, which represented a 25.1% increase over February and an 11.9% jump from March 2024.
Active listings were up big as well, especially in Central Okanagan, where there were more than 3,000 on the market. Last March that number was around the 2,650 mark.
“While market activity may have felt somewhat subdued across the region compared to previous years, we still saw the typical seasonal uptick that usually comes as we head into the busy spring market,” AIR president Kaytee Sharun said in a press release.
“While the broader economic uncertainty surrounding tariffs may be contributing to an atmosphere of hesitation, home sales and inventory levels are maintaining a healthy pace, as demand and the need for housing remain strong.”
Benchmark prices increased in 10 of 12 categories across Central, North and South Okanagan, and Kamloops, with only condominium-apartments in Central and North Okanagan suffering declines. The largest jump was in the North Okanagan townhouse category, where the price went from $541,700 in February to $591,600 in March.
