May 2020 | Market Update

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      Welcome to my “Quick Market Report” for May 2020. Here is what YOU need to know about the Penticton housing market!
      • 55 Residential homes were sold in May. This is 50 less homes sold (105) vs. May 2019. 
      • YTD there have been 265 homes sold. This is down 75 home sales (340) compared to the same period last year.
      • More than $119 million dollars of residential property sold to date in 2020. This is down $21 million dollars ($140 million) vs. last year.
      • We have 492 active listings in the city of Penticton vs. 494 last year.
      • With less sales activity and current inventory levels, Penticton will be in a “BUYERS” market for easily the next few weeks.
      • Only 117 new MLS listings were activated in Penticton throughout May. We had 193 listings activate in May 2019.
      • Average Single Family home price in Penticton was $601,000. Up 6% from May 2019.
      Although we are still living with some uncertainty surrounding Covid-19, I am hopeful that the safety measures in place are showing a renewed level of optimism and the beginning of brighter days ahead! Remember, I will always be here to help navigate you through the process!   Shannon
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