HOME INVENTORY LEVELS CONTINUE TO RISE IN PENTICTON!
We are closing in on two straight months where new inventory coming onto the housing market overshadows the properties being sold. In total, just 13 properties changed hands this past week, that’s only down 1 sale (14) from the week prior, but DOWN 29 home sales (42) for the same time period one year ago. The highest priced transaction was a Single-Family Home in the Columbia/Duncan neighbourhood which “SOLD” for more than $1.9K. The difference between the listing price and the negotiated sales price for the week ended up at 100%, with 9 of the 13 homes selling “AT OR OVER” their asking price. Inventory levels continue to move NORTH with 267 homes (of all types) on the market right now compared to 231 homes this time last year. That’s the THIRD CONSECUTIVE WEEK where inventory levels are higher than the previous year. This is becoming the new norm!
Here are the sales by property type for the 13 properties SOLD this past week (May 23 – MAY 29). Breakdown is as follows:- 1 Mobile Home
- 2 Townhomes
- 3 Condos
- 7 Single Family Homes
- 1 Mobile Home
- 2 Half Duplex
- 5 Townhomes
- 5 Condos
- 20 Single Family Homes
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