Welcome to my “Quick Market Report” for November 2021. Here is what YOU need to know about the housing trends here in Penticton!
- We are starting to level out on the home sales front. However, we’re still very much LOCKED into a “Sellers” market, and I don’t see any trend developing that tells me otherwise. We will be in this market position for the foreseeable future.
- We sold 82 “doors” in Penticton this November. In November 2020 we sold 113 “doors”.
- The average Single Family home price is now selling at $812,000. Up 31% ($622,000) from November 2020.
- Average Condo price is now $413,000. Up 21% ($342,000) from last November.
- Inventory levels are exceptionally low. There are only 67 Single Family Homes currently for sale in Penticton at this moment.
- $59 million dollars of residential property was sold in November 2021. This is a increase of 9% ($54 million) vs. last year.
- ONLY 178 “active listings” (single family, condos, townhomes, half-duplexes) in the entire city of Penticton vs. 325 last year.
- 83 new listings hit the market in November compared to 85 listings in November 2020.
If you have any thoughts about selling – there may never be a better time! Remember, I’m always here to help you NAVIGATE through the selling or buying process!