- There were 74 Residential home sales this month. In August 2018 we sold 83 homes here in Penticton, that’s down 11%.
- We have sold 602 homes (YTD) in the first 8 months of 2019 vs. 708 homes sold for the same period last year. That’s an 18% decline. The housing market has certainly softened, and the inventory “Churn” rates tell me that we have moved into a “Balanced” Market with the trend leaning towards buyers.
- YTD Residential sales just surpassed $255 million dollars. That’s a $50 million-dollar swing down compared to last year ($255m vs. $305m) and a 20% drop in sales volume year over year.
- The average Single-Family Home in Penticton is now worth $544,000. This is a decrease in value of 6% ($575,000) vs. the same time last year. I believe (as we go through the remainder of 2019) that we will end up with a Single-Family home average price right around $545,000.
- 144 new properties hit the Penticton real estate market in August compared to 135 from the year prior.
- There are currently 465 “active” listings in Penticton. That’s up 15% (404 listings) vs. August 2018.
