MERRY CHRISTMAS TO EVERYONE! I THINK IT’S SAFE TO SAY THAT THE HOLIDAY SEASON IS NOW OFFICIALLY UPON US!
In total, only 8 properties changed hands this past week in the Penticton region, that’s DOWN 5 sales (13) from the week prior, and DOWN a whopping 25 sales (33) for the same week one year ago. The TOTAL value of these 8 transactions was just over $7 million compared to $8.3 million the week prior. The highest priced sale was a Single-Family home in the Wiltse/Valleyview area which “SOLD” for more than $1.7 million dollars. The difference between the listing price and actual negotiated sales price for the week was still strong at 99%. Only 3 of the 8 homes sold this past week were “AT OR OVER” there stated listing price – that’s 37% of all sales for the week. DID YOU KNOW that there are currently only 189 homes (of all types) on the market right now compared to 254 homes this time last year? It doesn’t appear that the housing market will shift back towards a “BALANCED” position anytime soon. The longer you WAIT to buy a home, the more you will PAY!
Here was the Sales breakdown by property type for the 8 homes sold this past week (Dec. 13 – Dec. 19):- 1 Building Lot
- 1 Half-Duplex
- 1 Full-Duplex
- 1 Condo
- 4 Single Family Homes
- 1 Condo
- 5 Single Family Homes