Monday Market Report March 28 – April 3, 2022


In total, 32 properties changed hands this past week in the Penticton housing market, that’s UP 15 sales (17) from the week prior, but DOWN 7 sales (39) for the same time period one year ago. The highest priced transaction was a Townhome on the South side of Penticton which “SOLD” for more than $1.1 million. The difference between the listing price and the actual negotiated sales price for the week was at 103%, with 24 of the 32 homes selling “AT OR OVER” their listing price. In fact, there were 2 Single Family Homes that sold for $100K & $80K respectively over the asking price. We also had a Townhome on the North side that sold for $85k over the asking price, THAT’S MIND-BLOWING STUFF! DID YOU KNOW that we sold 109 homes in March 2022? However, in March 2021 we sold 157. THAT’S A 44% DECREASE IN SALES VOLUME YEAR OVER YEAR. Inventory levels continue to struggle with only 155 homes (of all types) on the market right now compared to 229 homes this time last year. 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 32 properties SOLD this past week (March 28 – April 3):
  • 1 Fourplex
  • 3 Half-Duplexes
  • 5 Mobile Homes
  • 5 Townhouses
  • 8 Condos
  • 10 Single Family Homes
There were 31 NEW Listings that hit the market last week (March 28 – April 3). Breakdown is as follows:
  • 1 Mobile Home
  • 1 Half-Duplex
  • 1 Lot
  • 5 Townhomes
  • 5 Condos
  • 18 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!