HELLO SPRING! You’ve taken your time getting here – but I’m thrilled that you’ve arrived. And…..the real estate market has responded in a very positive way! In total, 23 residential properties in Penticton change hands this week versus the 15 homes sold the week prior – that’s a 35% increase in sales volume in just one week! The total value of these 23 transactions was just over $9.6 million, compared to $5.6 million the week prior…..that’s a 42% increase – very, very positive indeed! The highest priced sale was a single family home on Lakeshore Drive which sold for more than $1,200,000. The variance between list price and actual sales price dropped to 95%. This is the first time in months where this percentage was not between 96% & 98%. I still believe that the housing market is positioned in the “buyers” favour – and the list vs. sales price proves this, but there’s no doubt that we WILL shift back in favour of “sellers” with a few more weeks of this type of activity! Monday Market Report Mar 7 – Mar 11, 2019
HELLO SPRING! You’ve taken your time getting here – but I’m thrilled that you’ve arrived. And…..the real estate market has responded in a very positive way! In total, 23 residential properties in Penticton change hands this week versus the 15 homes sold the week prior – that’s a 35% increase in sales volume in just one week! The total value of these 23 transactions was just over $9.6 million, compared to $5.6 million the week prior…..that’s a 42% increase – very, very positive indeed! The highest priced sale was a single family home on Lakeshore Drive which sold for more than $1,200,000. The variance between list price and actual sales price dropped to 95%. This is the first time in months where this percentage was not between 96% & 98%. I still believe that the housing market is positioned in the “buyers” favour – and the list vs. sales price proves this, but there’s no doubt that we WILL shift back in favour of “sellers” with a few more weeks of this type of activity!