A VERY SLOW WEEK OF HOME SALES – BLIP OR TREND?
ONLY 5 properties SOLD in Penticton this past week, that’s DOWN 9 sales (14) from the previous week, and DOWN 11 home sales (16) from the same week one year ago. The highest priced transaction was a single-family home in the Uplands/Redlands neighbourhood which sold for more than $910,000. 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 only 1 of the 5 properties selling “AT OR OVER” the listing price. Our current Inventory levels hover around 304+ homes (of all types) “For Sale” right now compared to 178 homes this time last year. That’s an increase in inventory year over year of 70%. We are now into our FIFTH straight month where inventory levels are higher than the previous year. Based on our October month-end statistics, we are living in a “BALANCED” housing market at this moment in time.Here are the SALES by property type for the 5 properties SOLD this past week (Nov. 7 – Nov. 13). Breakdown is as follows:
- 1 Condo
- 2 Mobile Homes
- 2 Single Family Homes
There were 17 NEW LISTINGS that hit the market last week (Nov. 7 – Nov. 13). Breakdown is as follows:
- 1 Lot
- 1 Mobile Homes
- 2 Single Family Homes
- 4 Half -Duplexes
- 4 Condos
- 5 Townhomes
CONNECT WITH SHANNON SIMPSON