Welcome to my “Quick Market Report” for July 2021. Here is what YOU need to know about the housing trends here in Penticton!
- We are starting to level out on the home sales front. Although still a “Sellers” market at this time, I’m starting to see trends that tell me we will be coming back to a “Balanced” position in the coming months.
- We sold 102 “doors” in Penticton this July. In July 2020 we sold 101 “doors”.
- The average Single Family home price is now selling at $818,000. Up 37% ($596,000) from July 2020.
- Average Condo price is now $403,000. Up 19% ($340,000) from last July.
- Inventory levels are exceptionally low. There are only 105 Single Family Homes currently for sale in Penticton.
- $58 million dollars of residential property was sold in July 2021. An increase of 23% ($47 million) vs. last year.
- ONLY 223 “active listings” (single family, condos, townhomes, half-duplexes) in the city of Penticton vs. 532 last year.
- 115 new listings hit the market in July compared to 198 listings in July 2020.
If you have any thoughts about selling – there has never been a better time! Remember, I will always be here to help navigate you through the listing or buying process!
