
SEASONAL SLOWDOWN: PENTICTON HOME SALES EASE AHEAD OF THE HOLIDAYS.
7 homes sold in Penticton this past week. That’s down 4 sales (11) from the week prior week, and down 5 sales (12) for the same time period one-year ago. Meanwhile, another 12 new listings hit the market this week, giving buyers a few more options to explore.
Highlight of the Week: A Single-Family Home on the South side of Penticton sold for more than $750,000. Overall, buyers secured homes at an average of 95% of the asking price, with not one of the 7 properties selling at or above the listing price.
Inventory Check: There are currently 329 properties (of all types) available in Penticton today. That’s down from 382 Properties in December 2024. This is a further 14% decline in inventory versus last year and has become a consistent trend in my year-over-year analysis. This is definitely a key sign of a shift in the market dynamics.
Listing Activity: In the past 30 days, 60 new properties have joined the Penticton market, creating exciting fresh opportunities for buyers.
Pro Tip for Buyers: The current buyer’s market is offering opportunities that won’t last forever. The window is open today – but it’s hard to know for how long this will continue. With demand beginning to stir, we’re already seeing early signs that multiple offers and faster sales could return sooner than expected. If you’ve been considering a purchase, now might be the absolute best time to move with confidence before the market shifts gears!7 SALES by property type for the homes SOLD this past week (Dec. 15 – Dec. 21). Breakdown is as follows:
- 4 Condos
- 3 Single Family Homes
- 6 Single Family Homes
- 4 Condos
- 1 Townhome
- 1 Half Duplex
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https://www.simpsonsellspenticton.ca/contact-shannon