SLOW AND STEADY WEEK OF SALES ACTIVITY IN THE CITY OF PENTICTON!
In total, just 12 properties SOLD this past week, that’s only DOWN 1 sale (13) from the previous week, but down a WHOPPING 21 home sales (33) from the same week one year ago. The highest priced transaction was a single-family home in the Uplands/Redlands neighbourhood which sold for more than $1 million. The difference between the listing price and the negotiated sales price for ALL homes SOLD this past week ended up at 98%, and 3 of the 12 properties sold “AT OR OVER” their asking price. Inventory levels continue to RISE with 312 homes (of all types) on the market right now compared to 206 homes this time last year. That’s an increase in inventory year over year of 51% – A VERY WELCOMED TREND! We’re now working on four straight months where inventory levels are trending higher than the previous year. This confirms for me that the housing market will be back to a “BALANCED” state before the end of summer.
Here are the SALES by property type for the 12 properties SOLD this past week (August 15 – August 21). Breakdown is as follows:
- 3 Condos
- 4 Single Family Homes
- 5 Townhomes
- 1 Lot
- 1 Half-Duplex
- 5 Townhomes
- 7 Condos
- 10 Single Family Homes
CONNECT WITH SHANNON SIMPSON