Penticton’s Housing Market Had Another Steady Week Of Home Sales: 18 Sales, 34 New Listings, A Robust Inventory, and Great Opportunities for Buyers!
In the past week, 18 properties in Penticton found new owners – this is a slight dip from the previous week’s 24 sales but a better result versus last year’s 15 sales for the same timeframe, all while the housing market continues to offer plenty of quality options!
The highlight of the week? A Single-Family Home in the Rural area of Penticton which sold for over $1.6 Million Dollars! On average, buyers managed to secure properties for 97% of the listing price, with just 1 of the 18 homes selling at or above their asking price.
Inventory Watch: Currently, there are 562 properties (of all types) available for sale, compared to 562 listings in May 2024.
New Listings Surge: Over the past 30 days, 218 new properties have hit the market, giving buyers even more options to explore and choose from.
Pro Tip for Buyers: In today’s market, waiting could end up costing you. Interest rates are quite competitive, inventory is good at this moment in time, and demand continues to be relatively strong. The best deals aren’t sitting around—they’re getting snatched up. If you wait, you may find yourself paying more or missing out altogether. Now is the time to make your move!18 SALES by property type for the homes SOLD this past week (May 19 – May 25). Breakdown is as follows:
- 1 Mobile Home
- 1 Half-Duplex
- 4 Townhome
- 4 Condos
- 8 Single Family Homes
- 1 Mobile Home
- 1 Fourplex
- 2 Lots
- 5 Townhomes
- 9 Condos
- 17 Single Family Homes
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