Welcome to my “Quick Market Report” for June 2022. Here is what YOU need to know about the current housing trends here in Penticton!
- Residential sales continue to see moderate drops in sales volume.
- We sold 90 homes in Penticton this June. In June 2021 we sold 104 homes.
- The average Single Family home is now $924,000. Up 12% ($824,000) from June 2021.
- Average Townhome price is now $596,000. Up 22% ($487,000) from last June.
- $60 million dollars of residential property was sold in June 2022. Surprisingly, this is a small increase of 4% ($57 million) vs. last year.
- Inventory levels are starting to rebound. As of June 30th, there are 307 “Doors” for sale in Penticton. As of May 31st, there were ONLY 279 “Doors”.
- 163 homes were listed this June compared to 152 listings in June 2021. That’s a slight increase of 7% in new listing inventory.
There are key indicators that are signaling to me that the market (and buyer demand for houses) has slowed down, but not as much as you might think….it’s still considered a SELLERS MARKET at this moment in time. However, your window of opportunity to see multiple buyers at your doorstep has pretty much closed. Remember, I’m always here to help you NAVIGATE through the selling or buying process!
