ANOTHER STEADY WEEK OF HOME SALES IN THE PENTICTON REAL ESTATE MARKET!
12 properties SOLD in PENTICTON this past week. That’s DOWN 1 sale from a week ago (13), but on par with sales (12) for the same time period one year ago. The highest priced transaction was a Single-Family Home that sold in the Columbia/Duncan neighbourhood for more than $1,075,000. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 98%, with ONLY 2 of the 12 properties selling at or over there stated listing price. Inventory levels in the City of Penticton continue to grow. We have 447 properties (of all types) “For Sale” right now compared to 340 homes this time last year – that’s an increase in inventory of +31% year over year. At this time, buyer’s are still in control of the marketplace, but if home sales BREAKOUT this spring and inventory levels shrink, this could change the landscape in a hurry!SALES by property type for the 12 properties SOLD this past week (Mar. 11 – Mar. 17). Breakdown is as follows:
- 1 Half-Duplex
- 4 Condos
- 7 Single Family Homes
- 3 Mobile Homes
- 4 Lots
- 4 Half-Duplexes
- 5 Townhomes
- 5 Condos
- 21 Single Family Homes
CONNECT WITH SHANNON SIMPSON