Property markets rarely change in one dramatic moment.

More often, the signs appear gradually.

Fewer properties come onto the market. Buyer profiles shift. Certain types of homes become more noticeable. Prices move over several years rather than several weeks. Sellers begin competing with fewer properties, while buyers discover that there may not be quite as much choice as there was before.

That is why I think the Pennington Property Market in 2026 is particularly interesting.

The latest Lightstone and Property24 data does not show a runaway boom.

What it does show is an active local property market with substantially less advertised stock than a year ago, a strongly mature buyer profile, continued transaction activity and a residential market dominated by freehold homes.

For both buyers and sellers, the tide may not be racing in or out.

But it is certainly moving.

The Pennington Property Market in 2026: A Quick Snapshot

According to the latest Lightstone Pennington Suburb Report, the suburb contains 1,550 residential properties.

The housing stock comprises:

• 1,061 ordinary freehold properties — 68.45%
• 200 freehold properties in estates — 12.90%
• 228 sectional-title properties — 14.71%
• 61 sectional-title properties in estates — 3.94%

Combined, freehold properties account for just over 81% of Pennington’s residential property stock.

This is important because Pennington is sometimes viewed from outside the area as primarily a holiday-property market.

The figures tell a broader story.

This is overwhelmingly an established residential market containing conventional freestanding homes, estate properties and a smaller but meaningful sectional-title component.

Property24 Advertised Stock Has Fallen Sharply

One of the clearest changes in the current Pennington Property Market is the amount of property being advertised for sale.

Property24 recorded:

• 317 properties on the market in August 2025
• 287 in September 2025
• 246 in November 2025
• 245 in January 2026
• 226 in April 2026
• 179 in May 2026
• 174 in June 2026
• 168 in July 2026

From August 2025 to July 2026, advertised stock therefore declined by approximately 47%.

That is significant.

It does not mean every property has suddenly become scarce.

It does not guarantee that prices will rise.

And it certainly does not mean sellers can put any asking price on their homes.

But it does mean sellers were competing against considerably fewer advertised properties in July 2026 than they had been eleven months earlier.

That changes the competitive landscape.

What Is Happening Across Different Home Sizes?

Property24’s bedroom data shows that the reduction is not confined to one category.

Between February and July 2026:

• 2-bedroom listings declined from 38 to 23
• 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 properties continue to make up the largest identifiable bedroom category among Pennington listings.

For a buyer, reduced stock can mean fewer direct alternatives.

For a seller, it can mean less competition.

But the opportunity still depends on price, presentation, condition and how well the home matches current buyer expectations.

Thinking About Selling in Pennington?

Lower advertised stock can create an opportunity — but only if the property is positioned correctly.

If you are wondering how your home compares with current competition and recent sales, I can help you understand where it may sit in today’s Pennington market.

Request a Pennington Property Valuation

Click here to request your free Pennington Property Valuation or click here to WhatsApp Sandy on 062 752 6507.

Buyers Are Still Active

Lightstone recorded 120 repeat-sale transfers in Pennington during the 12 months from August 2025 to July 2026.

Those transactions represented approximately R206.3 million in combined transfer value, with an average transfer value of approximately R1.72 million.

During the most recent three-month period from May to July 2026 alone, Lightstone recorded:

• 32 transfers
• Approximately R49 million in combined value
• An average transfer value of approximately 53 million

These figures tell us that properties are changing hands.

But, again, averages need context.

Different property types trade at very different levels.

What Are Different Pennington Properties Selling For?

Lightstone’s latest 12-month repeat-sale figures show:

Property Type	Transfers	Average Transfer Value
Developed freehold	63	R1,739,746
Developed sectional title	18	R1,539,722
Developed estate freehold	10	R2,692,500
Developed estate sectional title	10	R2,646,000

Ordinary developed freehold accounted for 63 transfers averaging approximately R1.74 million.

The estate categories recorded higher average transfer values, although each was based on only 10 transactions, so those figures should be interpreted cautiously.

This is why a single suburb-wide average is not particularly useful when valuing an individual Pennington property.

A home’s likely value can be influenced by:

• Property type
• Location
• Estate or complex
• Erf size
• Accommodation
• Views
• Condition
• Renovations
• Maintenance requirements
• Current competing stock

The market numbers provide context.

A property still needs to be assessed individually.

The Buyer Profile Is One of Pennington’s Most Important Trends

The current buyer demographics are particularly revealing.

According to Lightstone:

• 14% of buyers are aged 50–64
• 63% are aged 65+
• 02% are aged 36–49
• 21% are aged 18–35

That means approximately 74.77% of recent Pennington buyers were aged 50 or older.

Property24’s buyer-age profile points in the same general direction, recording 39.9% of buyers aged 50–64 and 39.2% aged 65+.

The exact percentages differ because the datasets and methodologies are different.

But the underlying message is consistent:

Pennington has a strongly mature buyer market.

This matters for sellers because property marketing should reflect the people most likely to buy.

That does not mean showing every property with stereotypical images of retired couples.

Far from it.

Someone aged 52 or 58 may still be working, travelling, entertaining, gardening and hosting family.

The largest Lightstone buyer group is actually 50–64, not 65+.

The better marketing question is:

What lifestyle does this particular property offer the buyer most likely to appreciate it?

Pennington Owners Also Tend to Stay

The ownership-duration figures add another layer to the picture.

Lightstone reports that:

• 42% of current owners have owned for 11+ years
• 12% for 8–10 years
• 16% for 5–7 years
• 30% for less than five years

That suggests Pennington has a substantial base of established, longer-term homeowners.

Again, the data does not tell us why individual people stay.

But it does tell us that many properties are not changing hands every few years.

For sellers who have owned for a decade or longer, preparing to sell may involve much more than putting a board outside.

There may be maintenance to address, documents to locate, years of possessions to work through and a significant next move to plan.

What About Pennington Property Prices?

The old version of this article included fairly sweeping claims about 4–6% annual growth and predicted 5–7% growth in the following year.

I would not repeat those figures.

The current Property24 data gives us actual recorded annual averages instead.

Property24 reports average Pennington sale prices of:

Year	Average Sale Price
2017	R805,000
2018	R927,500
2019	R960,000
2020	R1,050,000
2021	R1,155,000
2022	R1,150,000
2023	R1,200,000
2024	R1,125,000
2025	R1,420,000
2026*	R1,350,000

*2026 is incomplete and should not be compared directly with a full calendar year.

The longer-term direction is clearly upward.

But it is not a straight line.

There were years when the average barely changed and years when it declined.

That is how real property markets behave.

Changes in the mix of properties sold can also influence annual averages.

If more expensive homes transact in one year, the suburb average can increase even though every individual property has not appreciated by the same percentage.

Is Pennington Becoming a Seller’s Market?

It is tempting to look at declining advertised stock and call Pennington a seller’s market.  I would be a little more careful.

There are certainly factors that may benefit sellers:

• Fewer advertised properties than a year ago
• Ongoing transaction activity
• An identifiable mature buyer pool
• Less competition across several bedroom categories

But a true seller’s market is not created simply because one stock measure falls.

We would also want to understand:

• How long homes are taking to sell
• Asking-price versus selling-price gaps
• Buyer enquiry levels
• Stock by specific price band
• Stock by individual property type

So rather than declaring Pennington a seller’s market, I would say:

The balance of competition has become more interesting for Pennington sellers.

That is accurate, useful and supported by the evidence.

What Does This Mean for Buyers?

For buyers, a tightening market can make preparation more important.

If there are fewer suitable properties available, it helps to know:

• Your realistic budget
• Whether you want freehold or sectional title
• Whether estate living suits you
• How much maintenance you want
• Whether sea views are essential or simply desirable
• What monthly running costs you are comfortable with
• Whether you need to sell an existing property first

When the right home appears, those decisions are much easier if you have already thought them through.

What Does This Mean for Sellers?

For sellers, lower competition is useful only if the property itself makes sense to buyers.

That means:

Price properly.

Don’t interpret lower stock as permission to overprice.

Present properly.

Buyers still compare condition and perceived value.

Market to the likely buyer.

A large freestanding family home and a lock-up-and-go sectional-title unit should not be presented in exactly the same way.

Prepare before launching.

The first weeks of a property campaign matter.

Not Ready to Sell Yet?

You do not need to be ready to put your Pennington home onto the market before having a conversation.

If selling may be on your horizon, we can start by looking at the current competition, relevant sales and what preparation might make sense.

Talk To Sandy About Your Pennington Property

WhatsApp Sand – click here.

Call: 062 752 6507

Frequently Asked Questions About the Pennington Property Market

Is the Pennington Property Market growing?

The longer-term Property24 sale-price figures show a broad upward trend, while Lightstone records continued transfer activity. However, property growth is not uniform every year and individual property types behave differently.

Is Pennington currently a buyer’s or seller’s market?

The reduction in advertised stock means sellers are facing less listing competition than a year ago. However, the current data alone is not enough to definitively classify every segment of Pennington as a seller’s market.

How much property is currently for sale in Pennington?

Property24 recorded 168 advertised properties in July 2026, compared with 317 in August 2025.

How much have Pennington listings decreased?

Advertised Property24 stock declined by approximately 47% between August 2025 and July 2026.

Who is buying property in Pennington?

Lightstone reports that approximately 74.77% of recent Pennington buyers were aged 50 or older, with the 50–64 group forming the largest individual category.

What is the average price of a Pennington property?

There is no single figure appropriate for every home. Lightstone’s latest 12-month averages were approximately R1.74 million for developed ordinary freehold and R1.54 million for developed ordinary sectional title, while estate averages were higher.

Are freehold homes common in Pennington?

Yes. Ordinary and estate freehold together make up just over 81% of Pennington’s residential property stock according to Lightstone.

Are Pennington property prices rising every year?

No. Property24’s historic figures show an overall longer-term upward trend, but there have been years of little growth and years where the annual average declined.

Is now a good time to sell a Pennington property?

That depends on the individual property and the seller’s circumstances. Lower advertised competition may create an opportunity, but pricing, property condition, demand and competition within the specific price bracket still matter.