April 2020 | Market Update

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      Welcome to my “Quick Market Report” for April 2020. Here’s what YOU need to know about the housing market in Penticton!
      • 32 Residential homes were sold this April. This is 49 less homes sold (81) vs. April 2019. 
      • YTD there have been 210 Residential homes sold since January. This is 25 less homes sold (235) compared to the same period last year.
      • More than $94 million dollars of residential property sold to date in 2020. Just a slight decrease of $1 million dollars ($95 million) vs. last year.
      • We have 494 active listings in the city of Penticton vs. 466 in April 2019. An increase of 6% in inventory. 
      • The additional supply of homes in Penticton tells me that we will be in a BUYERS Market for the coming weeks.
      • Only 80 new MLS listings hit the Penticton market in April. We had 181 listings activate in April 2019.
      • Average Single Family home price in Penticton in April was $585,000. Up $64,000 from April 2019.
      With the Coronavirus (Covid 19) gripping the world, we are living in uncertain times for the foreseeable future. I’m hopeful that with all the safety measures taking place, we will come through this with a renewed level of optimism and hope for a return to normalcy and brighter future. Please take care for now. Shannon
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