- There were 61 Residential home sales in March. That’s down 22 homes compared to last year, or a decline of 27%. For the year we have sold 92 fewer homes (38% decline) vs. the same period last year. The housing market has certainly softened, but the percentages tell me that we are firmly locked into a “balanced” market at this time.
- YTD Residential sales just surpassed $60 million dollars. Compare that to the same time last year where we had sales of more than $100 million dollars. That’s a $40 million-dollar shortfall or 40% drop in sales volume year over year.
- The average Single-Family Home is worth $526,192. This is a decrease in value of just over 4% ($549,402). However, the difference continues to tighten vs. last year’s actual, and I still believe we will end up a lot closer to the $550,000 mark as we go through the year.
- 142 new properties hit the Penticton real estate market in March compared to 152 from the year prior.
- There are currently 425 “active” listings in Penticton. That’s up 32% (289 listings) from 2018.
