Monday Market Report August 30 – September 5, 2021

WELCOME TO SEPTEMBER…A STRONG WEEK OF SALES AS WE ROLL INTO THE FALL SEASON!

In total, we had 42 sales transactions this past week in the Penticton region, that’s UP 16 properties from the week prior, and UP 8 sales (34) for the same week in September 2020. The TOTAL value of these 42 transactions was just over $20 million compared to $17.7 million the week prior. The highest priced sale was a Single-Family Home in Naramata which had a “sales” price tag of more than $1.4 million dollars. The difference between the listing price and actual negotiated sales price for the week was just over 100% – a bit inflated by one home that sold for more than $115,000 over asking price. Did you know we SOLD 134 homes in Penticton & Naramata in the month of August 2021? This is only DOWN 5 sales compared to August 2020 as sales volumes continue to stay “SEASONALLY STRONG”, but the “Average Selling Prices” still tells me that SELLERS are very much in control of this housing market!

Here is the breakdown by property type for this past week (Aug 30 – Sept. 5)
  • 1 Full Duplex
  • 2 Half Duplexes
  • 3 Townhomes
  • 11 Building Lots
  • 12 Condos
  • 13 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!