Winter is here in the Okanagan and if you’re considering buying Penticton real estate this season, there are a few key things you should know. While winter may traditionally be a slower time for buying and selling homes, there are unique advantages to making your move now. Below we will explore the four most important things to know.
Contrary to popular belief, buying in the winter isn’t a bad idea - it’s actually an opportunity. Most buyers tend to wait until spring or summer to start their home search, which means fewer buyers are actively looking in the winter months.
There are several reasons some buyers hesitate to purchase a home in the winter. From navigating the process during an already busy season, to avoiding disruption to the school year, to wanting to see a property at its full spring or summer potential, these considerations are completely understandable.
The benefit to you if you do search for a Penticton home for sale in the winter is that you will face less competition. This also means fewer multiple-offer scenarios, giving you a stronger negotiating position and potentially better purchase terms.
Because demand typically slows in the winter months, home prices on the Penticton MLS often soften compared to peak spring and summer pricing. With fewer buyers actively searching, sellers who list during this time are generally more realistic in their expectations and open to meaningful discussions around price and terms.
For buyers, this creates a more balanced market environment. In some categories, prices have reached multi-year lows, offering opportunities to purchase with greater confidence and less pressure than during high-demand seasons. Rather than competing in fast-moving conditions, winter buyers can take a more thoughtful approach, supported by pricing that better reflects current market realities.
In addition to pricing advantages, sellers listing in winter are often more motivated to close a deal. Many winter listings are driven by specific circumstances such as job relocations, downsizing plans, lifestyle changes, or properties that didn’t sell during the peak season. As a result, these sellers tend to approach negotiations with a clearer sense of urgency and practicality.
For homebuyers this means sellers may be more flexible on price, conditions, closing dates, and repairs — which could save you money and stress in the negotiation process.
Because turnout from buyers is lower compared to the spring and summer markets, multiple offers are far less common in winter. That means less stress for you and more likelihood your offer will be reviewed thoughtfully by the seller rather than in a bidding war. This slower pace allows buyers to take a more measured approach, with greater opportunity to include conditions, negotiate terms, and make decisions based on value rather than urgency.
Here’s what the current market trends suggest going into winter 2025:
As of October 2025, the median price for a single-family home in Penticton was about $738,000, a slight year-over-year decrease, while condos averaged around $382,500, down roughly 10% from October 2024.
Inventory levels have been lower than last year, indicating that available homes are being absorbed quicker despite cooler seasonal activity — meaning the market is stabilizing after a period of adjustment.
Stats from local market trackers also show hundreds of active listings, giving homebuyers good selection this winter before a potential rebound in activity next spring.
Mortgage rates have become much more favourable compared to the peaks seen in prior years. As of December 2025 the Bank of Canada’s overnight policy rate has been held steady at 2.25%, providing stability for borrowers and lenders alike. The average 5-year fixed mortgage rates across Canada are around 4.7%, while the most competitive variable-rate options come in closer to 3.45% to 3.9% depending on your lender and product. Many lenders are offering attractive terms this winter, and with the central bank signaling rate stability for the near term, buyers have predictability in budgeting for monthly payments — especially if they secure financing before rate conditions change.
While many buyers wait until spring, there are compelling reasons to consider acting now. With fewer buyers in the market, competition is lower, making it more likely you’ll secure the right home without facing multiple-offer pressure. Seasonal softening in prices can also create meaningful savings, while motivated sellers are often more open to flexible terms. Combined with mortgage rates that remain relatively stable and attractive compared to recent history, winter can present a well-timed opportunity for buyers who are ready to move forward.
Buying Penticton homes for sale in the winter is often overlooked — but as you can see, that creates distinct advantages for savvy buyers. If you’re serious about securing the right property at the right price, now is a strategic time to act. Contact Team Thompson your real estate experts today to discuss how you can make the most of this winter market - from tailored search to negotiation strategies and mortgage guidance.
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