Welcome to my “Quick Market Report” for February 2021. Here is what YOU need to know about the housing market in Penticton!
- We continue to be LOCKED into an extraordinarily strong SELLERS market – this trend is now in the SIXTH straight month.
- We sold 102 “doors” in Penticton in February. Last year we sold 56 homes in February.
- Believe it or not, but the average Single Family home price is now $847,000. Up 37% ($617,000) from last year.
- Average Condo price is now $394,000. Up 26% ($312,000) from last January.
- Inventory levels are extremely low. There are only 99 Single Family Homes currently for sale in Penticton.
- More than $57 million dollars of residential property was sold in February 2021. An increase of 118% ($26 million) vs. last year.
- 240 current “doors for sale” (single family, condos, townhomes) in the city of Penticton vs. 378 last year.
- 126 new listings hit the market in February compared to 128 listings last year.
If you have any thoughts about selling – then now is the time! Remember, I am always be here to help navigate you through the listing or buying process!
