A SLOWER SALES WEEK COMPARED TO THE PAST 2 MONTHS. COULD THE CROSS BORDER RESTIRCTIONS BE PLAYING A PART IN THIS TREND?
In total, we had 35 homes change hands in Penticton this week, down 12 sales vs. the week prior. The TOTAL value of these 35 transactions was just under $22 million dollars compared to the $29 million dollars in sales the week prior. The highest priced property to sell was a Single Family Home in the Uplands/Redlands area which sold for more than $2 million dollars. The difference between the listing price and actual sales price for the week was 99%. This is the first time in five or six weeks that the actual sales price for the combined weekly transactions has not been over 100%. However, we still had 22 of the 35 homes sell for more than the asking price. I would say that suggests that we’re still seeing unprecedented sales volumes with a HEAVY tilt towards SELLERS.
Here’s a breakdown of sales by type of property for this past week (May 3rd – May 9th).- 2 Mobile Homes
- 6 Building Lots
- 6 Town Homes Condos
- 8 Condos
- 13 Single Family Homes