THE STREAK HAS BEEN BROKEN. For the first time in 8 weeks, we were unable to sell at least twenty homes here in Penticton…we came close, but only 17 properties changes hands last week vs. 28 properties the week prior. The total retail value of these seventeen transactions was more than $7.9 million dollars, compared to $11.4 million the prior week. The highest priced sale was a Single Family Home in Columbia/Duncan which sold for more than $800,000. The variance between list price and actual sales price was 97%….right in the middle of the consistent average seen between 96% and 98% each and every week. We are still a “balanced” market in Penticton at this time……It continues to be a great time to buy a home in the South Okanagan!
Here was the sales breakdown for this past week (June 17th to June 23rd):
- 1 Townhome
- 1 Mobile Home
- 5 Condos
- 10 Single Family Homes