WELCOME TO SEPTEMBER…
AND ANOTHER BIG WEEK OF HOME SALES IN OUR “NECK OF THE WOODS”
In total, we sold 34 properties in the Penticton region over the past seven days, that’s an INCREASE of 4 sales vs. the week prior. The TOTAL value of these 34 purchases was more than $19.7 million dollars, an increase of $6 MILLION dollars vs. the week before. The highest priced sale was a Single Family home on the Naramata beach front which sold for upwards of $3.5 million dollars. The difference between the listing price and actual sales price for the week ended up at 97%. This is a touch below last week’s sales ratio of 98%. EVERY sales indicator that I measure tells me that this is still very much a “SELLERS” market at this time. A tremendous amount of “DEMAND” with not very much “SUPPLY”. 2020 is turning out to be a BANNER year for sales in Penticton. In fact, we are on pace to sell 875 doors this year which will be an increase of 6% (828 homes sold) over 2019.
Here’s a breakdown of sales by property “type” for this past week (August 31st – September 6th)- 1 Building Lot
- 2 Mobile Homes
- 2 Half-Duplexes
- 3 Townhomes
- 11 Condos
- 15 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!