The Pennington property market looks quite different today from the market I wrote about towards the end of 2025.
We now have another year of property activity to examine, updated Lightstone data to July 2026, and current Property24 listing and sales information.
And the story is more interesting than simply saying that Pennington property prices are “going up”.
There are fewer properties competing for buyer attention on Property24 than there were a year ago. Freehold homes continue to dominate Pennington’s residential landscape. Mature buyers make up the majority of recent purchasers, and the latest Lightstone transfer data shows meaningful activity across ordinary freehold, sectional-title and estate property.
So, what does the Pennington property market actually look like in 2026 — and what should local property owners take from the numbers?
Pennington Property Market: The Latest 12-Month Snapshot
According to the Lightstone Pennington Suburb Report dated 24 August 2026, there were 120 repeat-sale transfers in Pennington during the 12 months from August 2025 to July 2026.
Together, those transfers represented approximately R206.3 million in property value, with an average transfer value of approximately R1.72 million.
During the most recent three-month period — May to July 2026 — Lightstone recorded:
- 32 repeat-sale transfers
- An average transfer value of approximately 53 million
- A combined transfer value of approximately R49 million
These figures are considerably more useful than making a broad statement that “prices are surging”.
Pennington isn’t one single property market. A freestanding home outside an estate, an estate property, a sectional-title unit and vacant land can behave very differently.
SOURCE TO ADD HERE:
Source: Lightstone Pennington Suburb Report, 24 August 2026. Transfer period: August 2025 to July 2026.
What Are Pennington Properties Selling For?
Lightstone’s most recent 12-month repeat-sale data provides an interesting view when we separate the main residential property types.
The numbers immediately show why quoting a single “Pennington average property price” can be misleading. An average does not tell us what an individual home is worth.
Location, property condition, erf size, improvements, estate, sea views, proximity to the beach, security, maintenance requirements and the individual property itself all influence the price a buyer may ultimately be prepared to pay.
Estate sales also involve relatively small samples in this report, so their higher average values should not be interpreted as evidence that every estate property carries the same premium.
Thinking About Selling a Pennington Property?
If you have been wondering what your property may be worth in today’s market, don’t rely solely on a suburb average or an online estimate.
I can help you look at the recent comparable sales, current competition and characteristics of your individual property before you make a decision.
Click here to request your Pennington Property Valuation from my Website.
Freehold Still Defines the Pennington Property Market
One of the clearest characteristics of Pennington is the dominance of freehold property.
Lightstone records 1,550 residential properties in Pennington, made up of:
- 1,061 ordinary freehold homes — 68.45%
- 200 freehold homes in estates — 12.90%
- 228 sectional-title properties — 14.71%
- 61 sectional-title properties in estates — 3.94%
Put the two freehold categories together and just over 81% of Pennington’s residential property stock is freehold.
That matters. Pennington is not simply a market of coastal apartments and holiday units.
It includes established freestanding homes, substantial gardens, estate properties, sectional-title options and properties suited to very different stages of life.
There Are Fewer Properties Competing for Buyers Online
One of the most interesting developments in the current Property24 figures is the reduction in advertised stock.
Property24 recorded 317 properties for sale in Pennington in August 2025.
By July 2026, that figure had fallen to 168 properties.
That represents a reduction of approximately 47% in advertised stock over that period.
We need to interpret this carefully.
It does not mean that Pennington property prices are automatically about to surge.
It does not mean that every correctly or incorrectly priced property will sell quickly.
And it does not tell us why every listing left the market.
What it does tell us is that, on Property24, sellers in July 2026 were competing with substantially fewer advertised properties than sellers had been in August 2025.
For a well-priced, well-presented property that matches current buyer demand, that can be significant.
Property24’s bedroom data shows the same broad tightening in the residential listings:
- 2-bedroom listings declined from 38 in February 2026 to 23 in July.
- 3-bedroom listings declined from 78 to 62.
- 4-bedroom listings declined from 34 to 26.
- 5+ bedroom listings declined from 27 to 18.
Three-bedroom homes continue to represent the largest identifiable bedroom category among advertised homes according to P24.
But Fewer Listings Do Not Mean Sellers Can Name Any Price
This is probably the most important seller message in the current market. Reduced competition can help a seller. It does not eliminate buyer choice.
Today’s buyer can see competing listings, historic sales information and asking prices online within minutes. Buyers compare value across Pennington and, depending on their circumstances, may also compare Pennington with other South Coast areas.
That makes pricing position particularly important.
A property launched too high can still sit on the market while correctly positioned properties attract interest.
The opportunity created by tighter stock therefore isn’t:
“There are fewer properties available, so let’s increase the asking price.”
A better question is:
“With less competition available, how do we position this particular property so that the right buyer notices it?”
That distinction can make an enormous difference to a seller’s result.
Who Is Buying Property in Pennington?
Another important part of the 2026 picture is the age of Pennington’s buyers.
According to Lightstone’s buyer data for August 2025 to July 2026:
- 14% of buyers were aged 50–64
- 63% were aged 65 or older
- 02% were aged 36–49
- 21% were aged 18–35
That means approximately 74.77% of recent Pennington buyers were aged 50 or older. This doesn’t mean Pennington is simply a retirement market. In fact, the largest individual buyer group is the 50–64 age bracket.
Many people in this age group may still be working. Some may be restructuring their lives ahead of retirement, downsizing from larger family homes, relocating to the coast or simply choosing where they want the next stage of their lives to happen.
The data doesn’t tell us their individual reasons for buying, so we shouldn’t invent them.
What it does tell sellers is that the mature buyer is extremely important in Pennington.
That should influence how properties are positioned and marketed.
Pennington’s Existing Owners Are Mature Too
The seller side of the market tells an equally interesting story.
Lightstone reports that 42% of current owners have owned their Pennington properties for 11 years or longer.
Another:
- 12% have owned for 8–10 years.
- 16% for 5–7 years.
- 30% for less than 5 years.
That long ownership profile creates an important local property story.
Some Pennington homes coming to market may have been family homes for a decade or considerably longer.
A seller in that position isn’t necessarily dealing only with price.
There may be years of possessions to sort through, maintenance decisions to make, property documents to locate and a very personal decision about where to move next.
That deserves a different type of estate-agency conversation from simply saying:
“Let’s put it on the market and see what happens.”
Not Quite Ready to Sell?
You don’t have to be ready to sign a mandate before asking for advice.
If you are thinking about selling a Pennington property in the next few months — or even if you are only starting to explore the idea — I am happy to help you understand the current market, likely competition and what preparation may be worthwhile.
TALK TO SANDY ABOUT MY PENNINGTON PROPERTY
WhatsApp Sandy – click here
Or Call: 062 752 6507
What About Pennington Property Price Growth?
Property24 records an average sale price of R1.42 million for 2025, compared with R1.125 million in 2024 across the sales reflected in its annual dataset.
For 2026, Property24 currently records an average of approximately R1.35 million.
However, 2026 is still incomplete.
It would therefore be misleading to compare an incomplete 2026 result directly with a completed 2025 year and conclude that Pennington prices are either rising or falling.
It is also important to remember that changes in the mix of properties sold can move an annual average considerably.
If more expensive estate properties transact in one period, for example, the overall average can increase without every Pennington home having appreciated by the same percentage.
That is why I prefer to look at:
- Recent comparable transfers.
- Property type.
- Current competing listings.
- Historic price trends.
- The individual property’s characteristics.
The market data gives us context.
Your home still needs its own valuation.
Is 2026 a Good Time to Sell Property in Pennington?
There is no single month when every Pennington homeowner should sell.
And I would no longer make the claim from the previous article that November and December automatically represent Pennington’s “perfect” or “peak” selling season.
Our available data does not prove that.
What we can say is that today’s market contains some encouraging ingredients for sellers:
- Advertised stock on Property24 has reduced substantially from a year earlier.
- Pennington recorded 120 Lightstone repeat-sale transfers over the 12 months to July 2026.
- Freehold properties continue to account for the majority of local housing stock.
- There is an identifiable mature-buyer market.
- Buyers have property options across ordinary freehold, estates and sectional title.
Whether your property should go to market now depends on the property, your plans, your likely competition and the price at which it can realistically be positioned.
That is a much more useful conversation than trying to predict a seasonal “boom”.
Frequently Asked Questions About the Pennington Property Market
What is the average property price in Pennington?
There isn’t one figure that accurately values every Pennington property. Lightstone’s latest 12-month repeat-sale data shows averages ranging from approximately R1.54 million for developed sectional title to approximately R1.74 million for developed ordinary freehold, while estate averages were higher. Individual values depend on the property itself and recent comparable sales.
Are Pennington property prices increasing?
Longer-term data shows substantial movement over recent years, but annual averages need to be interpreted carefully because the mix of properties sold changes. In addition, 2026 data is not yet a full calendar year. A local comparative valuation is more useful to an individual seller than a suburb-wide annual average.
Is there currently a shortage of property for sale in Pennington?
Property24’s advertised stock declined from 317 properties in August 2025 to 168 in July 2026. That indicates considerably less advertised competition, but it does not mean every property type or price band is in short supply.
Who is buying property in Pennington?
Lightstone reports that 44.14% of recent buyers were aged 50–64 and 30.63% were 65+, meaning approximately 74.77% were 50 or older during the reporting period.
Are buyers looking mainly for sectional-title properties?
No. Pennington remains predominantly a freehold market. Ordinary and estate freehold combined account for just over 81% of the residential property stock recorded by Lightstone.
Should I wait until summer to sell my Pennington home?
Not necessarily. The available data does not prove that a particular calendar month consistently produces the best-selling result. Your timing should take account of your circumstances, competing stock, property preparation and current buyer demand.
Considering Selling Property in Pennington?
The Pennington property market does not need exaggerated claims about booms or runaway prices to make an interesting story.
The current numbers already give sellers plenty to think about.
There is less advertised competition than there was a year ago. Pennington remains overwhelmingly freehold. Mature buyers continue to play a major role in the market, and more than R206 million in repeat-sale transfers was recorded by Lightstone over the most recent 12-month reporting period.
But property decisions remain individual.
If you are considering selling your Pennington home, I can help you look at what has actually sold, what you would be competing against and how your property could be positioned in the current market.
REQUEST A PENNINGTON PROPERTY VALUATION
Click here to request your Pennington Property Valuation.
Sandy Graham | Sell with Sandy powered by Cornerstone Homes 062 752 6507
