THE PENTICTON REAL ESTATE MARKET IS LEVELLING OUT!
The housing trends are signaling to me that the market (and buyer demand for homes) is starting to slowdown in Penticton. In total, just 22 properties changed hands this past week in the Penticton housing market, that’s UP 6 sales (16) from the week prior, but DOWN 11 home sales (33) for the same time period one year ago. The highest priced transaction was a Single-Family Home on the West Bench of Penticton which “SOLD” for more than $1.4. The difference between the listing price and the actual negotiated sales price for the week ended up at 99%, with 10 of the 22 homes selling “AT OR OVER” there offering price. Inventory levels continue to rebound with 234 homes (of all types) on the market right now compared to 231 homes this time last year. That’s the FIRST TIME in almost two years that we’ve seen an increase in inventory from one year to the next.
Here are the sales by property type for the 22 properties SOLD this past week (May 9 – May 15). Breakdown is as follows:- 1 Lot
- 2 Mobile Homes
- 2 Half-Duplexes
- 2 Townhomes
- 7 Condos
- 8 Single Family Homes
- 1 Fourplex
- 3 Lots
- 5 Townhomes
- 5 Condos
- 7 Half-Duplexes
- 20 Single Family Homes
CONNECT WITH SHANNON SIMPSON