Monday Market Report February 7 – February 13, 2022


In total, 23 properties changed hands this past week in the Penticton housing market, that’s a DECREASE of 6 sales from the week prior (29), and DOWN a WHOPPING 15 sales (38) for the same time period one year ago. The highest priced transaction was a Single-Family Home on the South side of Penticton which “SOLD” for more than $1.6 million. The difference between the listing price and actual negotiated sales price for the week was exactly 101%, and 12 of the 23 homes sold this past week were “AT OR OVER” there stated listing price. DID YOU KNOW that there are currently only 144 homes (of all types) on the market right now compared to 240 homes this time last year? That’s a 40% decrease in Inventory year over year. There is little chance that the housing market will shift back towards a “BALANCED” position anytime soon. If you’re a buyer looking to get into the market, the longer you WAIT, the more you will PAY!

Here was the breakdown by property type for the 23 homes sold this past week (Feb. 7 – Feb. 13):
  • 1 Lot
  • 6 Condos
  • 7 Townhomes
  • 9 Single Family Homes
There were 23 NEW Listings that hit the market last week (Feb. 7 – Feb. 13). Breakdown is as follows:
  • 1 Mobile Home
  • 1 Half Duplex
  • 2 Townhomes
  • 3 Fourplexes
  • 7 Condos
  • 9 Single Family Homes
Remember…If you’re thinking of Buying or Selling the South Okanagan, please give me a call at 250-328-5138 to see how YOU fit into today’s real estate market!