A SLOW WEEK OF HOME SALES IN THE CITY OF PENTICTON!
In total, just 11 properties SOLD this past week, that’s DOWN 3 sales (14) from the previous week, and DOWN 12 home sales (23) for the same period one year ago. The highest priced transaction was a Single-Family Home in Penticton rural which “SOLD” for more than $1.1 million. The difference between the listing price and the negotiated sales price for the week ended up at 95%, with only 4 of the 11 homes selling “AT OR OVER” their asking price. Inventory levels continue to CLIMB with 292 homes (of all types) on the market right now compared to 241 homes this time last year. That’s 2+ MONTHS where inventory levels are trending higher than the previous year. The housing market will be back to a “BALANCED” state before the end of summer.
Here are the sales by property type for the 11 properties SOLD this past week (June 20 – June 26). Breakdown is as follows:- 1 Condo
- 4 Townhomes
- 6 Single Family Homes
- 1 Mobile Home
- 4 Townhomes
- 8 Condos
- 19 Single Family Homes
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