SLOW IN SALES BUT A STRONG WEEK FOR NEW LISTINGS TO HIT THE PENTICTON MARKET!
Only 17 properties changed hands this past week in the Penticton housing market, that’s DOWN 10 sales (27) from the week prior, and DOWN a STAGGERING 33 sales (50) for the same time period one year ago. The highest priced transaction was a Single-Family Home on the North side of Penticton which “SOLD” for more than $900,000. The difference between the listing price and actual negotiated sales price for the week was at 105%, with 15 of the 17 homes selling this past week “AT OR OVER” their stated listing price. There was also a Half-Duplex on the North side that sold for $125k over the asking price, and one Townhome went for $75k over the asking price, THAT’S CRAZY STUFF!. DID YOU KNOW that there are currently only 158 homes (of all types) on the market right now compared to 228 homes this time last year? That’s a 44% decrease in Inventory from one year to the next. If you’re a buyer looking to get into the market, the longer you WAIT, the more you will PAY!
Here was the breakdown by property type for the 17 properties SOLD this past week (Mar. 21 – Mar. 27):- 1 Mobile Home
- 1 Fourplex
- 2 Townhouses
- 4 Condos
- 4 Single Family Homes’
- 5 half-Duplexes
- 2 Half-Duplexes
- 3 Mobile Homes
- 5 Townhomes
- 11 Condos
- 20 Single Family Homes
CONNECT WITH SHANNON SIMPSON