Welcome to my “Quick Market Report” for June 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 104 “doors” in Penticton this June. In June 2020 we sold 97 “doors”.
- The average Single Family home price is now selling at $824,000. Up 37% ($603,000) from June 2020.
- Average Condo price is now $403,000. Up 21% ($332,000) from last June.
- Inventory levels are exceptionally low. There are only 116 Single Family Homes currently for sale in Penticton.
- $57 million dollars of residential property was sold in June 2021. An increase of 20% ($48 million) vs. last year.
- ONLY 241 “active listings” (single family, condos, townhomes, half-duplexes) in the city of Penticton vs. 468 last year.
- 152 new listings hit the market in June compared to 133 listings in June 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!
