COULD THE SPRING SELLING SEASON BE OFFICIALLY UPON US?
I have just seen our first solid sign that Spring Selling is here for the foreseeable future with 22 properties SELLING in PENTICTON this past week. That’s UP a FULL 12 sales from a week ago (10), and UP 2 sales (20) for the same time period one year ago. The highest priced transaction was a Single-Family Home that sold in the Columbia/Duncan neighbourhood for more than $1.2 Million. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 96%, with ONLY 4 of the 22 properties selling at or over there stated listing price. Inventory levels in the City of Penticton continue to grow. We now have 469 properties (of all types) “For Sale” right now in the city compared to 365 homes this time last year – that’s an increase in inventory of +28% year over year. Based on this information, buyer’s (at this moment in time) are still STRONGLY in control of today’s real estate marketplace.SALES by property type for the 22 properties SOLD this past week (April 1 – April 7). Breakdown is as follows:
- 2 Half-Duplexes
- 6 Townhomes
- 6 Condos
- 8 Single Family Homes
- 2 Half-Duplexes
- 3 Mobile Homes
- 3 Townhomes
- 4 Lots
- 12 Single Family Homes
- 13 Condos
CONNECT WITH SHANNON SIMPSON