Monday Market Report February 2, 2026

ANOTHER SEASONAL WEEK OF HOME SALES IN THE PENTICTON REAL ESTATE MARKET!

This past week seen 12 homes change hands in Penticton’s real estate market – that’s up 1 home sale from the previous week’s 11 sales, and up 3 more sales (9) versus the same time period last year. With 36 new listings entering the market this week, buyers are finding themselves in an increasingly favorable position. The growing inventory means more selection and less competition, allowing buyers to explore their options thoroughly and make confident decisions without the pressure of multiple offers. For those with specific requirements, this balanced market presents an ideal opportunity to secure the right home at the right price.

Highlight of the Week: A Single-Family Home on the South side of Penticton sold for more than $800,000. Overall, buyers secured homes at an average of 98% of the asking price, with 2 of the 12 properties selling at or above the listing price.

Inventory Check: There are currently 350 properties (of all types) available in Penticton today. That’s down from 425 Properties in January 2025. This is a 17% 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: Over the past month, 136 new properties have entered the Penticton market, offering buyers an enhanced variety of homes to choose from.

Pro Tip for Buyers: The current market is creating great 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!

12 SALES by property type for the homes SOLD this past week (Feb. 2 – Feb. 8). Breakdown is as follows:

4 Townhomes
3 Single Family Homes
3 Condos
1 Half-Duplex
1 Mobile Home

36 NEW LISTINGS that hit the market last week (Feb. 2 – Feb. 8). Breakdown is as follows:

14 Condos
10 Single Family homes
5 Mobile Homes
4 Townhomes
2 Half Duplexes
1 Lot

No matter where you are in your real estate journey – buying your first home, investing, or making a move to better suit your lifestyle, there are solid opportunities in Penticton’s market right now. If you’d like expert insight or personalized advice, reach out to Shannon Simpson REALTOR® today.

CONNECT WITH SHANNON SIMPSON

https://www.simpsonsellspenticton.ca/contact-shannon

NOTE: this representation is based in whole or in part on data generated by the Association of Interior REALTORS®, which assume no responsibility for its accuracy.