Welcome to my “Quick Market Report” for October 2020.
Here is what YOU need to know about the Penticton housing market!
- We are still in an extremely strong SELLERS market!
- We are on pace to sell 970 “doors” in Penticton for 2020!
- The average Single Family home price is now $615,000. Up 12% from the same period last year.
- 121 Residential homes sold this month. An increase of 120% vs. October 2019 (55 homes).
- Inventory is extremely low. There are only 128 Single Family Homes currently for sale. Last year there were 188 homes for sale.
- 857 homes have sold this year compared to 734 last year.
- More than $409 million dollars of residential property has been sold in 2020. An increase of 29% ($316 million) vs. last year.
- 403 active “doors for sale” in the city of Penticton vs. 447 last year.
- 137 new homes hit the market in October compared to 106 listings the year prior.
Remember, I will always be here to help navigate you through the process!
