Penticton’s Housing Market Buzzes: 21 Sales, 34 Listings, Inventory Rises, and Buyer Opportunities!
This past week, 21 properties found their new owners in Penticton! While that’s a NICE SPIKE compared to the previous week’s 13 sales and last year’s 15 sales during the same period, there’s still plenty of good inventory in the market.
🌟 The highlight of the week? A stunning Single-Family Home in the North side of Penticton, which sold for over $2.9 million! On average, buyers managed to secure properties for 98% of the listing price, with none of 21 homes selling at or above their asking price.
📈 Inventory Watch: For the fourth week in a row, inventory levels are higher than they were last year. Currently, there are 531 properties (of all types) available for sale, compared to 495 listings in April 2024—marking a 7% year-over-year increase.
🏠 New Listings Surge: Over the past few weeks, more than 150 new properties have hit the market, giving buyers even more options to explore and choose from.
💡 Pro Tip for Buyers: As I’ve been saying all year, the scales are tipped slightly in your favor right now. With more options available, this could be your perfect opportunity to make a move!
21 SALES by property type for the homes SOLD this past week (April 21 – April 27). Breakdown is as follows:
- 2 Half Duplexes
- 4 Townhomes
- 4Condos
- 11 Single Family Homes
- 1 Mobile Home
- 1 Half Duplex
- 2 Lots
- 3 Townhomes
- 7 Condos
- 20 Single Family Homes
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