Penticton and the South Okanagan saw a meaningful pickup in activity in May 2026, with 224 sales across all property types — up 26.6% year-over-year and sitting about 6% above the 10-year average. It's still a buyer's market overall, but with active listings falling to 1,368 and new listings down 22.5%, the market is clearly tightening. Months of inventory is creeping toward balanced territory as supply drops and sales rise.
Single-family homes were the most active segment in May, with 99 sales — up 16.5% from last year — while inventory continued to decline. The benchmark price for a detached home in the Penticton area sits at roughly $760,000, down about 3.4% year-over-year, though single-family prices have been rising month-over-month since February. If that trend continues, the year-over-year gap should close quickly heading into the summer.
Townhomes in the South Okanagan are sitting in buyer's market territory at about 6.7 months of inventory, with 24 sales in May and inventory ticking up. The benchmark price for a townhome came in around $510,000, down 3.2% from last year. With relatively few townhomes in the market, individual sales can move the average significantly, but at $510K, they remain notably more affordable than Kelowna equivalents.
Condos were the standout story in May — sales jumped 68.8% year-over-year, which pushed the market from buyer's territory into a near-balanced position. Inventory fell significantly compared to last year, and the benchmark condo price hit $449,000 — up 6.2% and the highest since near the 2022 peak. Average days to sell for condos sits around 95, though that figure is skewed by a few long-sitting units. Most well-priced condos are moving in 60–70 days.
If you're thinking about buying or selling in Penticton or anywhere in the South Okanagan, feel free to reach out. The market is moving and pricing matters more than ever right now.
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