- 55 Residential homes were sold in October. That’s 3 less homes sold more vs. October 2018. A small decrease of 5%.
- We have sold 734 homes in the first 10 months of 2019 vs. 822 homes sold for the same period last year. That’s a decline of 12% in home sales for the year.
- YTD Residential sales just surpassed $316 million dollars. That’s $37 million dollars less (12% decline) compared to last year ($316m vs. $353m).
- The average Single-Family Home in Penticton is now worth $551k. This is a decrease in value of 5% compared to last year when the average home value was $579k.
- 106 new properties hit the Penticton real estate market in October.
- There are currently 447 “active” residential listings in Penticton.
- The housing market has obviously softened in 2019, and the inventory levels tell me that we have moved into a “Balanced” Market with the trend line leaning towards buyers.
- I believe (as we go through the remainder of 2019) that we will end up with a Single-Family home average price around $545,000.
