A BURST OF HOME SALES IN THE PENTICTON REAL ESTATE MARKET!
A total of 12 properties SOLD in PENTICTON this past week. That’s UP 5 sales (7) from last week, and UP 3 sales (9) for the same time period one year ago. The highest priced transaction was a Single-Family Home that sold on the North side of Penticton for more than $1,000,000. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 97%, with ONLY 1 of the 12 properties selling OVER the stated listing price. Inventory levels in the City of Penticton hover around 366 properties (of all types) “For Sale” right now compared to 327 homes this time last year – that’s an increase in inventory of +12% year over year. At this time, buyer’s are still in control of the marketplace, but if ACTIVE inventory levels continue to shrink, this could change the landscape in a hurry!SALES by property type for the 12 properties SOLD this past week (Jan. 29 – Feb. 4). Breakdown is as follows:
- 1 Lot
- 1 Condo
- 2 Townhomes
- 2 Half-Duplexes
- 6 Single Family Homes
- 1 Lot
- 3 Townhomes
- 3 Half-Duplexes
- 4 Condos
- 4 Single Family Homes
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