AN EASTER WEEKEND EXPLOSION! In the residential resale market here in Penticton. Although the sales stats will not completely show it (Real Estate Board Office was closed on Friday) has been VERY GOOD! In total, 19 residential properties change hands this week versus 21 homes sold the week prior. However, the total value of these 19 transactions was just over $9.3 million dollars, compared to $7.6 million the week prior. That is an increase of 18% in one week. The highest priced sale was a family home (Farm Estate) in the Naramata region which sold for more than $1,2000,000. The variance between list price and actual sales price was 95%….a bit of a dip as we usually see the variance between 96% and 98%. In my estimation, the housing market is still very much positioned as a “balanced” market at this time. Monday Market Report April 15 – April 21, 2019
AN EASTER WEEKEND EXPLOSION! In the residential resale market here in Penticton. Although the sales stats will not completely show it (Real Estate Board Office was closed on Friday) has been VERY GOOD! In total, 19 residential properties change hands this week versus 21 homes sold the week prior. However, the total value of these 19 transactions was just over $9.3 million dollars, compared to $7.6 million the week prior. That is an increase of 18% in one week. The highest priced sale was a family home (Farm Estate) in the Naramata region which sold for more than $1,2000,000. The variance between list price and actual sales price was 95%….a bit of a dip as we usually see the variance between 96% and 98%. In my estimation, the housing market is still very much positioned as a “balanced” market at this time.