Monday Market Report January 27, 2025 – February 2, 2025

     ANOTHER STEADY WEEK OF HOME SALES AS WE FINISH OFF THE MONTH OF JANUARY!

We sold 10 properties this past week here in Penticton. That’s DOWN 1 sale from the previous week (11), but UP 3 sales versus the same time period last year (7). The highest-priced transaction was a single-family home located on an acreage in the rural outskirts of Penticton, which sold for more than $3 million dollars. The average negotiated sales price this past week was 95% of the listing price, with not one of the 10 properties selling at or above its listing price. Since the start of January, inventory levels in the city have been lower compared to the previous year. We currently have 399 properties (of all types) listed for sale in the city, compared to 430 homes available in February 2024. This is a slight decrease of 7% in available inventory. At this moment, buyers continue to have a small edge in the housing market here in Penticton.

10 SALES by property type for the homes SOLD this past week (Jan. 27 – Feb. 2). Breakdown is as follows:

  • 3 Single Family Homes
  • 7 Condos
38 NEW LISTINGS that hit the market last week (Jan. 27 – Feb. 2). Breakdown is as follows:
  • 1 Lot
  • 1 Half Duplex
  • 1 Full Duplex
  • 2 Mobile Homes
  • 4 Townhomes
  • 13 Single Family Homes
  • 16 Condos
Remember…If you’re thinking of Selling or Buying in the South Okanagan, please give me a call at 250-328-5138 to see how YOU fit into today’s real estate market!

CONNECT WITH SHANNON SIMPSON

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