BOOM! MARKET EXPLOSION! – HELLO SELLERS! WOW – WHAT CAN I SAY?
We just had the biggest sales week of the year here in Penticton! In total, we sold 47 properties over the past seven days, which is 27 MORE sales vs. the prior week. The TOTAL value of these 47 purchases was just under $24 million dollars, which is an INCREASE of $15 million dollars vs. the week before. The highest priced sale was a Single Family home in the Wiltse/Valleyview neighbourhood which sold for more than $1.3 million dollars. The difference between the listing price and actual sales price for the week ended up at 98%. This is right in line with last week’s sales ratio of 98%. EVERY sales and inventory indicator that I have tells me that this is a “BULLISH” resale market at this moment in time. Lots of “DEMAND” and not very much “SUPPLY”.
Here’s a breakdown of sales by property “type” for this past week (August 3rd – August 9th)- 1 Building Lot
- 2 Half-Duplexes
- 4 Condos
- 5 Townhomes
- 8 Single Family Homes
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!