Penticton Real Estate Market on the Rise: Optimism Grows as Sales Increase and Prices Stabilize!
We SOLD 12 properties in PENTICTON this past week. That’s UP 5 SALES from a week ago (7), and UP A WHOPPING 10 property sales (2) for the same time period one year ago. The highest priced transaction was a Single-Family home on the South side of Penticton which sold for more than $625,000. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 96% with only 1 of the 12 properties selling at or over their stated listing price. Inventory levels in the City of Penticton continue to favour BUYERS – BUT ONLY SLIGHTLY! We currently have 393 properties (of all types) “For Sale” right now in the city compared to 381 homes available in December 2023. This is a slight INCREASE in available inventory of +3% year over year. At this moment, buyer’s continue to have a small edge on the housing market here in Penticton.12 SALES by property type for the homes SOLD this past week (Dec. 16 – Dec. 22). Breakdown is as follows:
- 1 Townhome
- 2 Single Family Homes
- 4 Condos
- 5 Mobile Homes
- 2 Lots
- 3 Condos
- 7 Single Family Homes
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