August was an unusual month in the South Okanagan.

The wildfires had a very real impact on our communities and, understandably, real estate took a back seat for many people. Travel was disrupted, showings were postponed, some buyers and sellers put their plans on hold, and attention was focused where it needed to be — on families, homes and communities affected by the fires.

That context is important when looking at August's real estate numbers.

Across the South Okanagan, 116 residential properties sold in August, down 33.7% from the same month last year. Yet total dollar volume was $86.1 million, down only 17.9%. At the same time, active listings fell 12.9% and new listings were down 24.3%.

In other words, there were significantly fewer transactions, but the value of the real estate that did sell held up considerably better.

Prices Tell a Different Story Than Sales

The slowdown in transactions did not translate into broad price declines.

The South Okanagan benchmark price for a single-family home was $767,800, up 4.9% from August 2025, even though single-family sales fell 39.6%. The average time to sell increased to 97 days, while available single-family inventory was actually 16.3% lower than a year ago.

Townhouses followed a similar pattern. Only eight sales were recorded, a 57.9% year-over-year decline, but the benchmark price was $504,700, up 2.7%. Apartments also saw sharply lower sales while their benchmark price increased 1.1% to $435,900.That combination matters. August looks much more like a month in which activity was interrupted than one in which property values suddenly deteriorated.

What Does This Mean for Sellers?

If you're considering selling, the headline about sales dropping by more than 30% may sound alarming — but it doesn't tell the whole story.

Inventory is also lower than it was last year, and benchmark prices remain above August 2025 levels. Sellers are not competing against a flood of new listings. What has changed is that buyers are taking their time, and homes need to be positioned correctly from the beginning.

Pricing, presentation and marketing matter enormously in this environment. Buyers have enough choice to be selective, but well-priced properties are still selling.

The biggest mistake right now would be pricing based on what you hope the market will pay rather than where today's buyers are actually seeing value.What Does This Mean for Buyers?For buyers, August's slower pace created something we haven't always had in the Okanagan: time.

There is generally more opportunity to properly evaluate a property, review comparable sales, complete due diligence and negotiate than there was during the frantic markets of previous years.

But lower sales do not necessarily mean dramatically lower prices. Benchmark values continue to hold, and inventory in several categories is lower than last year.

If the right property comes along at the right price, waiting for a major market correction could mean waiting for something that the current numbers simply aren't showing.... For the full article please Subscribe to Sarah Wingfield REALTOR® Monthly Newsletter