PENTICTON’S STEADY HOME SALES REFLECT MARKET CONFIDENCE!
Another 11 properties were SOLD in Penticton this past week. That’s only down 1 sale from the previous week (12), and down 2 sales for the same time period last year (13). The highest-priced transaction was a Single-Family Home in the Uplands/Redlands neighbourhood which sold for $1.7 million dollars. The average negotiated sales price this past week was 98% of the listing price, with 4 of the 11 properties selling at or above there stated listing price. Since the start of January, inventory levels in the city have been lower compared to the previous year. We currently have 451 properties (of all types) listed for sale in the city, compared to 475 homes available in March 2024. This is a decrease of 5% in available inventory year over year. At this moment, buyers continue to have a SLIGHT advantage (AND I MEAN SLIGHT) in the housing market here in Penticton.11 SALES by property type for the homes SOLD this past week (Mar. 3 – Mar. 9). Breakdown is as follows:
- 1 Townhome
- 2 Condos
- 4 Half Duplexes
- 4 Single Family Homes
- 1 Lot
- 1 Half Duplex
- 1 Full Duplex
- 5 Mobile Homes
- 9 Townhomes
- 10 Condos
- 26 Single Family Homes
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