Welcome to my “Quick Market Report” for January 2021. Here is what YOU need to know about the CRAZY Penticton housing market!
- We are LOCKED into an extraordinarily strong SELLERS market for more than FIVE months now!
- We sold 79 “doors” in Penticton this January. That’s 29 more home sales compared to last year.
- Unbelievable, but the average Single Family home price is now $837,000. Up 34% ($626,000) from last year.
- Average Condo price is now $396,000. Up 57% ($253,000) from last January.
- Inventory levels are extremely low. There are only 101 Single Family Homes currently for sale in Penticton.
- More than $47 million dollars of residential property was sold in January 2021. An increase of 118% ($21 million) vs. last year.
- 248 current “doors for sale” (single family, condos, townhomes) in the city of Penticton vs. 350 last year.
- 95 new listings hit the market in January compared to 106 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!
