A BOUNCE-BACK WEEK, BUT I’M PRETTY SURE THIS IS NOT A SIGN OF THINGS TO COME….What a remarkable week for real estate sales in Penticton where 20 homes have just been sold compared to 9 homes that changed hands the week before. Total value of these 20 transactions was just over $8.6 million dollars, compared to $4.2 million the week prior. The highest priced sale – a Single Family home on the Naramata Bench which sold for more than $870,000 dollars. The difference between listing price and sales price stayed at 96% for the second straight week, we had previously been locked into a trend of 97% of asking price for more than four months. Seller’s are being very practical with their offering price, and we are firmly locked into a balanced market. I believe that the Fall season is STILL the PERFECT time for Buyer’s to be purchasing their new property!
Here’s the breakdown of sales for this past week (October 21st to October 27th)
- 1 Recreational Property
- 1 Lot
- 1 Full-Duplex
- 2 Condos
- 4 Townhomes
- 11 Single Family Homes
Remember…If you’re thinking of Buying or Selling the South Okanagan, please give me a call at 250-329-5138 to see how YOU fit into today’s real estate market!