NO SIGNS OF A SLOWDOWN HAPPENING YET!
In fact, we sold another 34 properties in the Penticton region over the past seven days, which is an INCREASE of 2 home sales vs. the week prior. The TOTAL value of these 34 purchases was just over $18 million dollars, which is UP about $1 million dollars vs. the week before. The highest priced sale was a Single Family home in the Naramata area which sold for more than $2.2 Million dollars. The difference between the listing price and actual sales price for the week ended up at 97%, which is a “mirror image” of last week’s sales ratio of 97%, with the year to date average still staying consistent at 98%. This is still a “SELLERS” market with a lot of buyer “DEMAND” and not very much seller “SUPPLY”. 2020 is going to be a BANNER year for home sales in Penticton. In fact, we are on pace to sell 950 doors this year, which will be an increase of 15% (828 homes sold) over 2019.
Here’s a breakdown of sales by property “type” for this past week (Nov 2nd to Nov 8th)- 2 Mobile Homes
- 2 Acreages
- 3 Half Duplexes
- 5 Townhomes
- 6 Condos
- 16 Single Family Homes
Remember…If you’re thinking of Buying or Selling the South Okanagan, please give me a call at 250-328-5138 to see how YOU fit into today’s real estate market!