Welcome to my “Quick Market Report” for August 2021. Here is what YOU need to know about the housing trends here in Penticton!
- We are starting to level out on the home sales front. Although still a “Sellers” market at this time, I’m starting to see trends that tell me we will be coming back to a “Balanced” position in the coming months.
- We sold 106 “doors” in Penticton this August. In August 2020 we sold 123 “doors”.
- The average Single Family home price is now selling at $817,000. Up 35% ($603,250) from August 2020.
- Average Condo price is now $409,000. Up 18% ($346,000) from last August.
- Inventory levels are exceptionally low. There are only 98 Single Family Homes currently for sale in Penticton at this moment.
- $68 million dollars of residential property was sold in August 2021. An increase of 11% ($61 million) vs. last year.
- ONLY 206 “active listings” (single family, condos, townhomes, half-duplexes) in the city of Penticton vs. 492 last year.
- 113 new listings hit the market in August compared to 135 listings in August 2020.
If you have any thoughts about selling – there has never been a better time! Remember, I will always be here to help navigate you through the listing or buying process!
