SO FAR DECEMBER HASN’T DAMEPENED BUYERS APPETITE TO PURCHASE A HOME BEFORE CHRISTMAS!
WE HAD 15 properties SELL in PENTICTON this past week, that’s UP 8 sales (7) from the previous week, but DOWN 12 home sales (27) from the same week one year ago. The highest priced transaction was a single-family home on the South side of the city which sold for more than $1.35 Million. The difference between the average listing price and the average negotiated sales price for every home SOLD this past week ended up at 96%, with NONE of these 15 properties SOLD “AT OR OVER” their stated listing price. Our current Inventory levels hover around 335+ homes (of all types) “For Sale” right now compared to 139 homes this time last year. That’s an increase in inventory year over year of 141%. We are now into our SIXTH straight month where inventory levels are higher than the previous year. Based on our October month-end stats, we had settled into a “BALANCED” housing market, but with the increase in New Listings we have undoubtedly swung back to a “BUYERS” housing market.
Here are the SALES by property type for the 15 properties SOLD this past week (Nov. 28 – Dec. 4). Breakdown is as follows:
- 1 Half-Duplex
- 1 Mobile Home
- 6 Single Family Homes
- 7 Condos
There were 15 NEW LISTINGS that hit the market last week (Nov. 28 – Dec. 4). Breakdown is as follows:
- 1 Half-Duplex
- 2 Mobile Homes
- 2 Townhomes
- 3 Condos
- 7 Single Family Homes
CONNECT WITH SHANNON SIMPSON