AND THAT’S WHAT WE CALL A BOUNCE-BACK! After being broken for the first time in 9 weeks (with less than 20 homes being sold in a one-week period), the Penticton Real Estate market came back in full force with 26 home sales this past week! That’s up 9 sales vs. the 17 properties sold the week prior. The total retail value of these 26 transactions was more than $11 million dollars, compared to $7.9 million the prior week. The highest priced sale was a Single Family Home in Wiltse / Valleyview which sold for more than $1,000,000. The variance between list price and actual sales price was 96% this week….a bit lower than the usual 97% range that’s been seen for the past six months. We are still in a “balanced” market in Penticton at this time……but I sense that it’s tilting a bit towards buyers. All in all, it’s certainly a great time to buy a home in the South Okanagan!

Here was the sales breakdown for this past week (June 24th  to June 30th):

  • 1 Mobile Home
  • 2 Townhomes
  • 3 Half-Duplexes
  • 8 Condos
  • 12 Single Family Homes