Penticton’s Real Estate Market had a BOOMING WEEK: 24 Sales & 27 New Listings!
This week delivered an impressive 24 home sales in Penticton – an eight-sale surge over last week’s 16 and surpassing last year’s 18 sales for the same period! With 27 vibrant new listings hitting the market, buyers have more compelling opportunities than ever to find their perfect match.
The highlight of the week? A Single-Family Home in the Uplands/Redlands neighbourhood of Penticton which sold for more than $1.6 Million Dollars. On average, buyers managed to secure properties for 98% of the listing price, with 3 of the 24 homes selling at or above their asking price.
Inventory Watch: Currently, there are 519 properties (of all types) available for sale, compared to 516 listings in August 2024. This is the first time in more than 8 months where the inventory levels have been on par with that of 2024. Is the market shifting?
New Listings Surge: Over the past 30 days, 122 new properties have hit the market, giving buyers even more options to explore and choose from.
Pro Tip for Buyers: The window of opportunity is still open – but it’s narrowing fast. With mortgage rates holding steady, fresh listings expanding buyer choice, and demand driving homes off the market in mere days, the pace is accelerating. Waiting even a few weeks could mean facing higher prices or watching your dream home disappear. Want to win in this market? Step in with confidence. Make your move now!24 SALES by property type for the homes SOLD this past week (Aug. 18 – Aug. 24). Breakdown is as follows:
- 1 Half – Duplex
- 4 Townhomes
- 4 Condos
- 15 Single Family Homes
- 1 Mobile Home
- 1 Half Duplex
- 1 Triplex
- 4 Townhomes
- 7 Condos
- 13 Single Family homes
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