Welcome to my “Quick Market Report” for August 2025. Here’s the latest update on the housing market in Penticton:
- Home Sales: 89 homes were sold in August 2025, compared to 67 in August 2024.
- Total Sales Volume: $52 million worth of residential property was sold in August 2025, up 25% from $40 million sold last year.
- Single Family Homes: The median price is now $747,000, a 1% increase from $745,000 in August 2024.
- Townhomes: The median price is $494,950 up 2% versus last year at $485,000.
- Half-Duplexes: The median price is $575,000, down from $612,000 in August 2024.
- Condos: The median price in July was $397,000. This is down from $424,000 in August 2024.
- Inventory Levels: There are currently 544 active listings in Penticton, down 5% from 576 in August 2024.
- New Listings: 122 new listings hit the market in August 2025, compared to 134 in August 2024.
Penticton’s real estate market has clearly hit its low point, with prices (for some categories) at their lowest in over two years and inventory at levels unseen since the early 2000’s – making it a true buyer’s paradise. However, in August, 89 properties changed hands, marking the second-highest monthly sales volume of the past two years. Could this be the start of a market turnaround? With six months of inventory available (active listings divided by average monthly sales), buyers still wield substantial leverage on both price and terms. Interest rates remain attractive, and prices haven’t begun to climb, but this window won’t stay open: once more buyers enter, listings will vanish, and the market will shift back. Act now to secure the best deals before sellers reclaim the upper hand!
Remember, if you have any questions, I’m always here to help you MAKE SENSE OF IT ALL!
