ANOTHER CRAZY WEEK & MONTH OF SALES ACTIVITY IN THE CITY OF PENTICTON!
In total, we had 35 homes change hands this week, up 3 sales from the week prior. The TOTAL value of these 35 purchases was just over $19 million dollars compared to $18 million the week prior. FOR THE MONTH, we have sold 124 properties as compared to 64 in February 2020. An increase of 94% Year over Year! The highest priced sale this week was a single family home in the Village of Naramata which sold for more than $1.7 million dollars. The difference between the listing price and actual sales price for the week ended up at 99%, two percentage point higher than last week’s sales ratio of 97%. 16 of the 35 homes sold this past week were sold AT OR ABOVE their asking price. Today’s housing market is HEAVILY tilted towards SELLERS as there continues to be a tremendous amount of DEMAND in our marketplace, with very little SUPPLY. Here’s a breakdown of sales by type of property for this past week (Feb.22nd to Feb.28th)- 1 Building Lot
- 2 Half Duplexes
- 2 Mobile Homes
- 7 Town Homes
- 11 Condos
- 12 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!