BASED ON THE NEW LISTINGS THIS WEEK, I BELIEVE THAT SPRING IS RIGHT AROUND THE CORNER IN THE CITY OF PENTICTON!
A total of 13 properties SOLD in PENTICTON this past week. That’s UP 1 sale (12) from one week ago, and on PAR (13) for the same time period one year ago. The highest priced transaction was a Condo that sold on the North side of the City for more than $1,190,000….WOW! The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 95%, with ONLY 1 of the 13 properties selling at or over there stated listing price. Inventory levels in the City of Penticton hover around 432 properties (of all types) “For Sale” right now compared to 340 homes this time last year – that’s an increase in inventory of +27% year over year. At this time, buyer’s are still in control of the marketplace, but if home sales BREAKOUT and inventory levels shrink, this could change the landscape in a hurry!SALES by property type for the 13 properties SOLD this past week (Feb. 26 – Mar. 3). Breakdown is as follows:
- 4 Condos
- 4 Townhomes
- 5 Single Family Homes
- 2 Mobile Homes
- 5 Half-Duplexes
- 6 Condos
- 12 Townhomes
- 29 Single Family Homes
CONNECT WITH SHANNON SIMPSON