After February's wait-and-see, Kelowna's housing market snapped into action in March.

"We saw the typical seasonal uptick that usually comes as we head into the busy spring market," said Kaytee Sharun, president of the 2,600-member Association of Interior Realtors.

"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."

Even if you aren't buying or selling a home, the just-released monthly housing figures should be of interest to everyone because they are a prime economic indicator.

What housing statistics like this show is that while we might be scared of tariffs and the future, life goes on and you still gotta buy stuff.

So let's put this all into numbers.

Last month in the Central Okanagan, 149 single-family homes changed hands, up from 122 in February and 110 in January.

It's also up 15% compared to March 2024's activity.

The benchmark selling price of a typical single-family home in Kelowna in March was $1,046,800, a slight bump from $1,036,900 in February and $1,030,600 in January.

The single-family benchmark hit a record-high of $1,131,800 in the post-COVID, pre-inflation boom of April 2022.

Photo credit: Realtor.caThis four-bedroom, four-bathroom, 2,792-square-foot house on Southview Court is listed for sale for $1,050,000, which just a little more than the benchmark selling price of $1,046,800 for a typical single-family home in Kelowna in March.

When it comes to townhouses, 61 sold in March, a jump from 47 in February and 38 in January.

The benchmark selling price of a typical townhouse last month was $750,600, up from $730,100 in February and $742,900 in January.

The townhouse benchmark peaked in May 2022 at $829,000.

For condos, there were 92 sales last month, a boost from 78 in February, 63 in January and a 14% step-up from March 2024.

While condo sales were on the rise, the benchmark selling price of a typical condo actually tumbled to $504,500 in March from $515,500 in February and $517,100 in January.

The record-high condo benchmark was $557,700 in April 2022.

Another indicator included in the association's monthly report is 'days to sell'.

In March, single-family homes sold after being on the market for 56 days, which is 10% less than last year at the same time.

Yet, last month, townhouses that sold had been listed for sale for 53 days, which is 55% longer than March 2024.

And of the condos that changed hands in March, the average time on the market was 66 days, 17% longer than the same month last year.

The higher 'days to sell' show that while the housing market may be picking up, buyers are still taking their time comparison shopping, haggling on price and ruminating over that final decision.

After all, there's still an element of uncertainty in the market and a home is generally the largest purchasing decision you make in your life.

_{Thumbnail photos from Realtor.ca}