A STEADY WEEK OF HOME SALES TO END THE MONTH!
In total, 21 properties changed hands this past week in the Penticton housing market, that’s UP a modest 2 sales from the week prior (19), but DOWN a WHOPPING 14 sales (35) for the same time period one year ago. The highest priced transaction was a Single-Family Home/Acreage in the Uplands/Redlands area of Penticton which “SOLD” for more than $3 million. The difference between the listing price and actual negotiated sales price for the week was 98%, and 12 of the 21 homes sold this past week were “AT OR OVER” there stated listing price. DID YOU KNOW that there are currently only 155 homes (of all types) on the market right now compared to 240 homes this time last year? That’s a 35% decrease in Inventory from one year to the next. There is little chance that the housing market will shift back towards a “BALANCED” position anytime soon. If you’re a buyer looking to get into the market, the longer you WAIT, the more you will PAY!
Here was the breakdown by property type for the 21 homes sold this past week (Feb. 21 – Feb. 27):- 1 Half-Duplex
- 2 Lots
- 2 Townhouses
- 6 Condos
- 10 Single Family Homes
- 1 Mobile Home
- 1 Acreage
- 1 Lot
- 1 Fourplex
- 3 Townhouses
- 3 Half-Duplexes
- 5 Condos
- 8 Single Family Homes
CONNECT WITH SHANNON SIMPSON