Welcome to my “Quick Market Report” for November 2020. Here is what YOU need to know about the Penticton housing market!
- This is still a very strong SELLERS market!
- We are on pace to sell 1,070 “doors” in Penticton for 2020.
- The average Single Family home price is now $622,000. Up 13% from last year.
- 113 Residential homes sold this month. An increase of 98% vs. November 2019 (57 homes).
- Inventory levels are extremely low. There are less than 100 Single Family Homes (96) currently for sale.
- 972 homes have sold this year compared to 790 last year.
- More than $465 million dollars of residential property has been sold in 2020. An increase of 37% ($340 million) vs. last year.
- 325 current “doors for sale” (all categories) in the city of Penticton vs. 394 last year.
- 85 new homes hit the market in November compared to 81 listings the year prior.
If you have any thoughts about selling – then now is the time! Remember, I am always be here to help navigate you through the listing or buying process!
