
PENTICTON EMBRACES HOLIDAY CHEER: REAL ESTATE MARKET SLOW AMID SEASONAL FESTIVITIES!
7 homes sold in Penticton this past week. That’s on par from the week prior week, and UP 1 sale (6) for the same time period one-year ago. Meanwhile, another 6 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 North end of Penticton sold for more than $2.5 million dollars. Overall, buyers secured homes at an average of 94% of the asking price, with not one of the 7 properties selling at or above the listing price.
Inventory Check: There are currently 320 properties (of all types) available in Penticton today. That’s down from 382 Properties in December 2024. This is a further 16% 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, 56 new properties have joined the Penticton market, creating exciting fresh opportunities for buyers.
Pro Tip for Buyers: The current market is creating exceptional opportunities for informed buyers. You’re in the driver’s seat right now, with the time and space to find exactly what you’re looking for, negotiate thoughtfully, and make decisions without pressure. While we’re beginning to see renewed interest and energy in the market (which is a healthy sign overall) today’s conditions still favour buyers who are ready to act. If you’ve been dreaming about making a move, this could be the perfect time to turn those plans into reality and secure a great opportunity while you have the advantage!7 SALES by property type for the homes SOLD this past week (Dec. 22 – Dec. 28). Breakdown is as follows:
- 5 Single Family Homes
- 2 Townhomes
- 3 Single Family Homes
- 2 Townhomes
- 1 Half Duplex
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https://www.simpsonsellspenticton.ca/contact-shannon