Monday Market Report October 12, 2026

Just Five Sales This Week: Buyers Hold the Cards in Penticton’s Housing Market.

The Week in Numbers: A quiet one. Penticton saw just 5 sales this week, down from 18 the week prior and 23 at this time last year; the Thanksgiving long weekend likely played a part, but the slowdown is real. With 18 new listings arriving, buyers have plenty of choice and little reason to rush. For sellers, the homes still selling are the ones priced in line with current conditions and presented to stand out; in a market this selective, close enough rarely gets an offer.

Highlight of the Week: A Condo on the South side of Penticton sold for more than $650,000. Across all 5 transactions, buyers paid an average of 94% of asking price, with none of the 5 properties selling at or above the list price.

Inventory Watch: Penticton currently has 438 active listings across all categories, compared with 453 a year ago. A 3% difference looks small, and that’s exactly the point. For much of this year we ran 15 to 20% below last year’s inventory, a gap of as many as 100 homes in the spring. Month by month that gap has closed, and today it’s down to just 15 homes. What’s changed is the buyer side: We have nearly the same number of homes for sale as last year, but noticeably fewer buyers acting on them. For sellers, that means more competition for every serious buyer, and getting the list price right from day one matters more now than it has all year. Expect inventory to ease as listings expire into winter; the question is whether buyer activity eases with it.

New to Market: 112 new properties have come onto Penticton’s housing market over the past 30 days, a healthy (but smaller) wave of fresh inventory spanning a real range of price points and property types. For Buyers: The conditions favouring you are still firmly in place. Inventory has held in a fairly narrow range since early summer, easing only slightly this month, so the selection you had three to six months ago is much the same as the selection you have today. Meanwhile, buyer activity remains well below last year, and we haven’t seen a meaningful rebound since the slowdown that followed the Summerland wildfire in August. That combination puts you in a strong position: Time to think, room to compare, and negotiating leverage instead of competing offers. It’s easy to take that for granted after the last few years, but it won’t last forever. Historically, spring brings buyers back to the market, and when demand picks up, conditions can shift faster than people expect. The leverage you have today is real; the question is whether you use it before the competition returns.

5 SALES by property type for the homes SOLD this past week (October 12 – October 18). Breakdown is as follows:

2 Single Family Homes
2 Condos
1 Mobile Home

18 NEW LISTINGS that hit the market last week (October 12 – October 18). Breakdown is as follows:

11 Single Family Homes
3 Townhomes
2 Condos
2 Mobile Homes

No mater where you are in your real estate journey – buying your first home, investing, or making a move to better suit your lifestyle, there are solid opportunities in Penticton’s market right now. If you’d like expert insight or personalized advice, reach out to Shannon Simpson REALTOR® today.

CONNECT WITH SHANNON SIMPSON

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

NOTE: this representation is based in whole or in part on data generated by the Association of Interior REALTORS®, which assume no responsibility for its accuracy.