ANOTHER CONSISTENT WEEK OF SALES IN THE CITY OF PENTICTON – LOOKS LIKE A TREND IS DEVELOPING
In total, 31 homes changed hands this past week, down 2 home purchases vs. the week prior. The TOTAL value of these 31 transactions was just under $21 million dollars compared to just under $22 million in sales the week prior. The highest priced property sold was a Single Family Home on the South side of Penticton which fetched more than $2.7 million dollars……more than $700,000 over the asking price – WOW! The difference between the listing price and actual sales price for the week was 104% – certainly inflated by the home that sold for 38% over asking price. 21 of the 31 homes did sell AT OR OVER asking price. I would say that sales volumes are now relatively “SEASONAL” for this time of year, but the “Average Selling Price” still tell me that SELLERS have the upper hand in the market.
Here’s a breakdown of sales by type of property for this past week (May 17th – May 23rd).- 1 Full Duplex
- 3 Building Lots
- 6 Townhomes
- 6 Condos
- 15 Single Family Homes