Real estate snapshot: Canada, BC, and the North Okanagan

October 27 2026 - Real estate activity across Canada cooled in September. National sales fell about 7.7% year-over-year and the average price edged down roughly 1.6%, according to CREA, as higher fixed mortgage rates and speculation of Bank of Canada hikes kept many buyers on the sidelines.

BC and Ontario were among the hardest hit. BC recorded 5,254 sales (−8.9% year-over-year) with the average price down 2.4% to about $924,000 (BCREA). Ontario saw roughly 13,340 sales (−8.3%) and an average price decline of about 4.3%.

Both provinces already had the highest prices in the country, so the jump in borrowing costs and broader economic uncertainty hit them harder.

Homes in the GTA took an average of about 34 listing days on market (property days around 51), according to TRREB.

Alberta fared better. Sales were down a more modest 6% and the average price rose about 4.8% to roughly $529,000.

In Edmonton, average days on market stood at 44 (up 5 days year-over-year), and Calgary was in a similar range around 44 days (CREB and local board data). Lower prices and tighter conditions left the province less sensitive to the same rate pressures.

Within BC, the North Okanagan held up relatively well on prices. Sales in the North Okanagan fell to 129 from 155 a year earlier, but the single-family benchmark price rose about 5.6% year-over-year to roughly $793,000 (Association of Interior REALTORS®).

Condo/apartment benchmarks also increased. Inventory declined, helping keep conditions closer to balanced than in softer markets. Homes took longer to sell, however, with an average of about 115 days on market overall (up from 84 days a year earlier) and roughly 94 days for single-family homes; a recent Vernon snapshot showed a median of 82 days (Association of Interior REALTORS® / local MLS data).

The North Okanagan was not the strongest area in the province.

Regions such as the Kootenays posted sales gains, and some smaller or northern markets showed more activity. Still, prices in the North Okanagan proved more resilient than in the Lower Mainland, where demand was softer and buyer leverage was greater.

In the Fraser Valley, days on market were shorter, around 45 days for detached homes, 38 for townhomes, and 46 for apartments (Fraser Valley Real Estate Board).

Greater Vancouver houses were in a similar range near 36 days in some reports.

Housing sales in the North Okanagan remain down year-over-year, but the combination of firmer prices and non-rising inventory has kept the local market from sliding as far as the province’s most expensive areas, even as properties take longer to sell than in Alberta, Ontario, or the Fraser Valley.

Data accurate as of September 2026 (latest available monthly figures from CREA, BCREA, Association of Interior REALTORS®, TRREB, and other boards).

Real estate snapshot: Canada, BC, and the North Okanagan