Monday Market Report November 15 – November 21, 2021


In total, 20 properties changed hands this past week in the Penticton region, that’s UP 4 sales (16) from the week prior, but DOWN 10 sales (30) for the same week one year ago. The TOTAL value of these 20 purchases was just over $14.5 million compared to $10 million the week prior. The highest priced sale was a 77-acre parcel of land at the Southern Tip of the Redlands area of Penticton which “SOLD” for more than $2.9 million dollars. The difference between the listing price and actual negotiated sales price for the week was 100%. It’s still important to mention that 12 of the 20 homes sold this past week were “AT OR OVER” the listing price – that’s close to half of all home sales. DID YOU KNOW that there are currently only 226 homes (of all types) on the market right now compared to 325 this time last year? It’s still a bit too early to say that the market is shifting towards a “BALANCED” market position, but I will be keeping my eyes on this trend over the next few weeks.

Here is the Sales breakdown by property type for the 20 homes sold this past week (Nov. 15 – Nov. 21)
  • 1 Mobile
  • 2 Half-Duplexes
  • 3 Building Lots
  • 3 Townhouses
  • 3 Condos
  • 8 Single Family Homes
There were 22 NEW Listings that hit the market last week (Nov. 15 – 21). Breakdown is as follows:
  • 3 Townhouses
  • 2 Half-Duplexes
  • 4 Condos
  • 6 Building Lots
  • 7 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!