Monday Market Report March 13, 2022 – March 19, 2023

A SLOWER WEEK OF HOME SALES IN THE CITY OF PENTICTON!

JUST 12 properties SOLD in PENTICTON this past week, that’s DOWN 4 sales (16) from the previous week of sales, and DOWN a STAGGERING 15 home sales (27) for the same week one year ago. The highest priced transaction was a single-family home on the South side of Penticton which sold for more than $600,000. The difference between the average listing price and the average negotiated sales price this past week ended up at 97%, with only 3 of the 12 homes SELLING at or above there listing price. Our current Inventory levels hover around 341 homes (of all types) “For Sale” right now compared to 148 homes this time last year – that’s an increase in inventory year over year of +130%. Based on our FEBRUARY month-end analysis, we are still firmly locked into a “BUYERS” housing market at this point in time!

SALES by property type for the 12 properties SOLD this past week (Mar. 13 – Mar. 19). Breakdown is as follows:

  • 1 Mobile Home
  • 1 Lot
  • 1 Townhome
  • 3 Single Family Homes
  • 6 Condos
25 NEW LISTINGS that hit the market last week (Mar. 13 – Mar. 19). Breakdown is as follows:
  • 2 Half-Duplexes
  • 3 Townhomes
  • 4 Mobile Homes
  • 4 Condos
  • 12 Single Family Homes
Remember…If you’re thinking of Selling or Buying in the South Okanagan, please give me a call at 250-328-5138 to see how YOU fit into today’s real estate market!

CONNECT WITH SHANNON SIMPSON

https://www.simpsonsellspenticton.ca/contact-shannon