A LITTLE MORE ACTION TO KICK-START 2022 IN THE PENTICTON HOUSING MARKET!
In total, 13 properties changed hands this past week in the Penticton region, that’s UP 6 door sales from the week prior (7), but DOWN 7 sales (20) for the same time period one year ago. The TOTAL value of these 13 transactions was just over $6 million compared to $2.3 million the week prior. The highest priced sale was a Single-Family home in the Columbia/Duncan area which “SOLD” for more than $1 million. The difference between the listing price and actual negotiated sales price for the week was 95%, with all 13 properties selling lower than their asking price. DID YOU KNOW that there are currently only 154 homes (of all types) on the market right now compared to 248 homes this time last year……Inventory is certainly at an ALL-TIME LOW! There is little chance that the housing market will shift back towards a “BALANCED” position anytime soon. I’m still very confident in saying that the longer you WAIT to buy a home, the more you will PAY!
Here was the Sales breakdown by property type for the 13 homes sold this past week (Jan. 3 – Jan. 9):- 1 Mobile Home
- 1 Townhome
- 2 Building Lot
- 2 Half-Duplexes
- 2 Single Family Homes
- 5 Condos
- 2 Townhomes
- 2 Condos
- 1 Single Family Homes