Hello to all my Clients, Colleagues & Friends! Welcome to my “Quick Market Report” for September 2023. Here is everything YOU need to know about the current housing market here in Penticton.
- We sold 54 homes in Penticton this September vs. 49 sales in September 2022.
- The “Median” value for a Single Family home in Penticton is now $740,000.
- Over $35 million dollars of residential property was sold in September 2023. That’s an increase of 22% ($27 million) vs. last year.
- The “Median” Townhome price is now $485,000.
- The “Median” value for a Half-Duplex in Penticton is now $620,000.
- The “Median” Condo price is now $405,000. Up 7% ($375,000) from September 2022.
- Inventory levels continue to GROW with 466 active “Doors” for sale in Penticton.
- 149 new listings hit the market in September 2023.
Every key indicator is signaling to me that the market demand for homes is softer than normal as we roll into Fall, and as such, we have slid into a strong “BUYER’S MARKET”. We currently have more than 8 months of home inventory FOR SALE in Penticton right now. I base this statement on the average number of homes we sell each month. Remember, if you have any questions, I’m always here to help you MAKE SENSE OF IT ALL!
