RELATIVELY QUIET WEEK OF HOME SALES IN THE CITY OF PENTICTON!
There were 18 properties SOLD this past week, that’s UP 3 sales (15) from the previous week, but DOWN 12 home sales (30) for the same period one year ago. The highest priced transaction was a single-family home on the South side of the city which sold for more than $850k. The difference between the listing price and the negotiated sales price for the week ended up at 98%. However, we still had 8 of the 18 properties sell “AT OR OVER” there asking price. Inventory levels continue to CLIMB with 306 homes (of all types) on the market right now compared to 223 homes this time last year. That’s an increase in inventory year over year of 37%. We’ve now seen three straight months where inventory levels are trending higher than the previous year which leads me to believe that the housing market will be back to a “BALANCED” state before the end of summer.
Here are the sales by property type for the 18 properties SOLD this past week (July 11 – July 17). Breakdown is as follows:
- 2 Mobile Homes
- 2 Half-Duplexes
- 4 Condos
- 4 Single Family Homes
- 6 Townhomes
- 1 Lot
- 3 Mobile Homes
- 9 Townhomes
- 10 Condos
- 10 Single Family Homes
CONNECT WITH SHANNON SIMPSON