A SEASONAL WEEK OF HOME SALES IN THE CITY OF PENTICTON!
In total, we had 26 homes change hands this past week in the Penticton region, that’s DOWN 7 properties from the week prior, but only DOWN 4 sales (30) for the same week in August 2020. The TOTAL value of these 26 transactions was just over $17.7 million compared to $24.8 million in sales the week prior. The highest priced home to sell was a Single-Family Home in Penticton which had a price tag of more than $1.6 million dollars. Homes that sold this week were (on average) at 94% of the listing price – this is the lowest sales ratio I’ve seen in a year, but still 15 of the 26 homes were sold “AT OR OVER” the listing price. Sales volumes continue to stay somewhat “SEASONAL”, but it feels like a change is coming. I’m sensing that we could be moving towards a more “BALANCED” market in the coming weeks.
Here’s a breakdown of sales by type of property for this past week (August 23- August 29, 2021).- 1 Half Duplex
- 2 Mobile Homes
- 2 Townhomes
- 4 Condos
- 6 Building Lots
- 11 Single Family Homes