Welcome to my Quick Market Report for April 2025. Here’s the latest update on the housing market in Penticton:
- Home Sales: 69 homes were sold in April 2025, compared to 73 in April 2024.
- Total Sales Volume: $43 million worth of residential property was sold in April 2025, down 4% from $45 million sold last year.
- Single Family Homes: The median price is now $760,000, a 1% increase from $750,000 in April 2024.
- Townhomes: The median price is $450,000 down 6% versus last year at $480,000.
- Half-Duplexes: The median price is $581,000, down from $600,000 in April 2024.
- Condos: The median price in April was $417,000. This is up from $395,000 in April 2024.
- Inventory Levels: There are currently 567 active listings in Penticton, up 7% from 528 in April 2024.
- New Listings: 187 new listings hit the market in April 2025, compared to 177 in April 2024.
Is the market shifting? Without question – it appears we’ve hit the bottom in Penticton, both in terms of pricing and inventory. The key metrics I rely on – inventory levels, interest rates, price trends, and overall regional market activity indicate we’re in a distinctly buyer-friendly market right now. With just over eight months of inventory available, buyers hold significant leverage, yet this advantage is fleeting. Inventory is assessed by comparing the average monthly home sales to current listings, and as buyer demand inevitably surges, these favorable conditions will narrow rapidly. Acting immediately means securing the best possible price and terms before the market shifts to a more balanced position and ultimately tilts toward sellers.
Remember, if you have any questions, I’m always here to help you MAKE SENSE OF IT ALL!
