SLOWER THAN ANTICIPATED WEEK IN SALES – STEADY GROWTH IN LISTINGS!
A TOTAL of 15 properties SOLD in PENTICTON this past week, that’s up 3 sales (12) from the previous week of sales, and DOWN 2 home sales (17) for the same week one year ago. The highest priced transaction was a single-family home on the North side of Penticton which sold for more than $1,100,000. The difference between the average listing price and the average negotiated sales price this past week ended up at 98%, and just 4 of these 15 homes SOLD at or above there listing price. Our current Inventory levels hover around 342 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 +131%. Based on our FEBRUARY month-end analysis, we are still locked into a “BUYERS” housing market at this point in time!
SALES by property type for the 15 properties SOLD this past week (Mar. 20 – Mar. 26). Breakdown is as follows:
- 1 Mobile Home
- 3 Townhomes
- 3 Condos
- 8 Single Family Homes
- 1 Full Duplex
- 2 Lots
- 2 Half-Duplexes
- 3 Townhomes
- 7 Condos
- 7 Single Family Homes
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