Welcome to my “Quick Market Report” for May 2021. Here is what YOU need to know about the housing trends here in Penticton!
- We continue to be LOCKED into an extraordinarily strong SELLERS market – this trend is now in the NINTH straight month.
- We sold 127 “doors” in Penticton this May. In May 2020 we sold 55 “doors”.
- The average Single Family home price is now selling at $828,000. Up 38% ($601,000) from last year.
- Average Condo price is now $398,000. Up 17% ($338,000) from last May.
- Inventory levels are exceptionally low. There are only 113 Single Family Homes currently for sale in Penticton.
- More than $76 million dollars of residential property was sold in May 2021. An increase of 209% ($24 million) vs. last year.
- ONLY 231 “doors for sale” (single family, condos, townhomes, half-duplexes) in the city of Penticton vs. 492 last year.
- 163 new listings hit the market in May compared to 117 listings last year.
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!
