KEEP CALM AND CARRY ON – THAT’S THE THEME FOR THIS WEEK! In total, just 8 homes were sold in the past seven days, which is two homes fewer (10) vs. the week prior. TOTAL value of these 8 purchases was just over $3.8 million dollars, or eight-hundred thousand less ($4.6 million) than the week before. The highest priced sale was a Single-Family home in the Wiltse/Valleyview neighbourhood which sold for more than $725,000. The difference between listing price and sales price was 98% for the week. It’s apparent that SELLERS have sharpened their “Offering Price Pencils” and homes are priced aggressively with some of the uncertainty surrounding Covid-19. My key indicators still show the housing market being “BALANCED” at this moment…..BUT, I sense that we are headed towards a “BUYERS” market in the coming weeks.
Here’s the breakdown of sales by property “type” for this past week (April 20
th to April 26
th)
- 5 Townhomes
- 3 Single Family
Remember…If you’re thinking of Buying or Selling the South Okanagan, please give me a call at 250-328-5138 to see how YOU fit into today’s real estate market!
