A SLOW (BUT STEADY) WEEK OF HOME SALES IN PENTICTON TO WRAP UP THE MONTH OF NOVEMBER!
JUST 11 properties were sold in PENTICTON this past week. That’s DOWN 7 SALES from a week ago (18), but UP 6 property sales (5) for the same time period one year ago. The highest priced transaction was a Single-Family Home on the South side of Penticton which sold for more than $1.3 Million Dollars. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 96%, with NONE of the 11 properties selling at or over their stated listing price. Inventory levels in the City of Penticton continue to favour BUYERS……..but this gap is SHRINKING FAST. We currently have 426 properties (of all types) “For Sale” right now in the city compared to the 381 homes available in December 2023. This is a slight INCREASE in available inventory of +12% year over year. At this moment, buyer’s continue to have a small edge on the housing market here in Penticton.11 SALES by property type for the homes SOLD this past week (Nov. 25 – Dec. 1). Breakdown is as follows:
- 2 Lots
- 4 Condos
- 5 Single Family Homes
- 1 Mobile Home
- 2 Half Duplexes
- 7 Condos
- 7 Single Family Homes
CONNECT WITH SHANNON SIMPSON