March 2022 | Quick Market Report

Welcome to my “Quick Market Report” for March 2022. Here is what YOU need to know about the current housing trends here in Penticton!

  • For a fourth consecutive month, residential sales have taken a significant drop in both sales volume and revenue. Nevertheless, we continue to stay LOCKED into a “Sellers” market at this very moment in time. However, there are indicators that show me that the market might be starting to slowdown.
  • We sold 113 homes in Penticton this March. In March 2021 we sold 168 homes.
  • The average Single Family home is now $908,000. Up 10% ($829,000) from March 2021.
  • Average Townhome price is now $606,000. Up 17% ($517,000) from last March.
  • Close to $65 million dollars of residential property was sold in March 2022. This is a considerable decrease of 19% ($79 million) vs. last year.
  • Inventory levels are exceptionally low. There are only 83 Single Family Homes currently for sale in Penticton at this very moment.
  • As of March 31st, there’s ONLY 159 “active listings” (single family, condos, townhomes, half-duplexes) in the entire city of Penticton vs. 228 last year.
  • 148 new home listings hit the market this March compared to 185 listings in March 2021. That’s a decrease of 20% in listing inventory.
If you have any thoughts about selling – there may never be a better time! Remember, I’m always here to help you NAVIGATE through the selling or buying process!