Welcome to my “Quick Market Report” for December 2021. Here is what YOU need to know about the housing trends here in Penticton!
- For the first time in over a year, residential sales plummeted in both revenue volume and sales volume. However, make no mistake, we’re still very much LOCKED into a “Sellers” market, and I don’t see anything that tells me otherwise. We will be in this market position for the foreseeable future
- We sold 47 “doors” in Penticton this December. In December 2020 we sold 89 “doors”.
- The average Single Family home price is now worth $812,000. Up 29% ($631,000) from December 2020.
- Average Condo price is now $403,000. Up 17% ($343,000) from last December.
- Inventory levels are exceptionally low. There are only 62 Single Family Homes currently for sale in Penticton at this moment.
- $29 million dollars of residential property was sold in December 2021. This is a dramatic decrease of 60% ($46 million) vs. last year.
- ONLY 139 “active listings” (single family, condos, townhomes, half-duplexes) in the entire city of Penticton vs. 254 last year.
- 39 new listings hit the market in December compared to 52 listings in December 2020.
If you have any thoughts about selling – there may never be a better time! Remember, I’m always here to help you NAVIGATE through the selling or buying process!