Welcome to my Quick Market Report for September 2019. Here’s what YOU need to know!
- We sold 76 Residential homes in September. That’s 22 more homes SOLD vs. September 2018. An increase of 41%.
- We have sold 679 homes (YTD) in the first 9 months of 2019 vs. 764 homes sold for the same period last year. That’s a decline of 13% in home sales for the year.
- YTD Residential sales just surpassed $291 million dollars. That’s $35 million-dollar less in total sales compared to last year ($291m vs. $326m).
- The average Single-Family Home in Penticton is now worth $548,000. This is a decrease in value of 4% ($572,000) compared to last year.
- 166 new properties hit the Penticton real estate market in September.
- There are currently 472 “active” residential listings in Penticton.
- The housing market has softened in 2019, and the inventory “Churn” levels tell me that we have moved into a “Balanced” Market with the trend line leaning towards buyers.
- I believe (as we go through the remainder of 2019) that we will end up with a Single-Family home average price around $545,000.
Check out all my easy to read graphs below. If you want to keep up on the latest housing trends in Penticton, then this report is for you! Remember, I’m always here to help you make sense of it all!