The sale of single family homes in the Central Okanagan dropped by just over 21% in August compared with August 2016.
A report by the Okanagan Mainline Real Estate Board shows townhome sales were off 10.8%, but apartment sales were up 2.5%.
Board President Tanis Read says while August is typically a slower month in terms of sales volume, the imbalance between supply and demand continued to prop up home prices.
The average price of a home rose by 10% last month to $678,608 from August 2016.
Townhouse prices were up 7.7% to $448,000 - and apartment prices rose 14.5% to almost $343,000.