Monday Market Report January 24 – January 30, 2022


In total, 22 properties changed hands this past week in the Penticton region, that’s UP 15 door sales from the week prior (7), but DOWN 13 sales (35) for the same time period one year ago….. As suspected the market is bouncing back with an INCREASE in VOLUME as we round out January! The highest priced sale was a Single-Family Home on the West Bench of Penticton which “SOLD” for more than $1.8 million. The difference between the listing price and actual negotiated sales price for the week was 100%, and 11 of the 22 homes sold this past week were “AT OR OVER” there stated listing price. DID YOU KNOW that there are currently only 175 homes (of all types) on the market right now compared to 248 homes this time last year?……Inventory is STILL SIGNIFICANTLY LOW! There is little chance that the housing market will shift back towards a “BALANCED” position anytime soon. I’m very confident in saying that the longer you WAIT to buy a home, the more you will PAY!

Here was the Sales breakdown by property type for the 22 homes sold this past week (Jan. 24 – Jan. 30):
  • 1 Lot
  • 1 Half-Duplex
  • 2 Mobile Homes
  • 3 Townhomes
  • 6 Single Family Homes
  • 9 Condos
There were 23 NEW Listings that hit the market last week (Jan. 24 – Jan. 30). Breakdown is as follows:
  • 1 Acreage
  • 3 Half-Duplexes
  • 3 Townhomes
  • 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!