Welcome to my “Quick Market Report” for April 2022. Here is what YOU need to know about the current housing trends here in Penticton!
- Residential sales continue to see significant drops in sales volume.
- We sold 96 homes in Penticton this April. In April 2021 we sold 155 homes.
- The average Single Family home is now $927,000. Up 11% ($833,000) from April 2021.
- Average Townhome price is now $687,000. Up 39% ($494,000) from last April.
- $65 million dollars of residential property was sold in April 2022. This is a considerable decrease of 46% ($95 million) vs. last year.
- Inventory levels are starting to rebound. As of May 5th, there are 222 “Doors” for sale in Penticton. As of March 31st, there were ONLY 159 “Doors”.
- 168 homes were listed this April compared to 186 listings in April 2021. That’s a decrease of 11% in new listing inventory.
There are key indicators that are signaling to me that the market (and buyer demand for houses) is starting to slowdown. If you still have thoughts about selling, your window of opportunity to have multiple buyers at your doorstep will be closing. Remember, I’m always here to help you NAVIGATE through the selling or buying process!
