A BIT OF A DIP IN PENTICTON HOME SALES THIS PAST WEEK!
In total, 16 homes changed hands this past week in the Penticton region, that’s DOWN 6 properties (22) from the week prior, and DOWN 15 sales (31) for the same week one year ago. The TOTAL value of these 16 purchases was just over $10 million compared to $15.5 million the week prior. The highest priced sale was a Single-Family Home in the “rural” area of Penticton which “SOLD” for more than $1.1 million dollars. The difference between the listing price and actual negotiated sales price for the week was 101%….however, this percentage has been inflated by one home that sold for more than $122,000 over asking price – WOW! It’s still important to mention that 9 of the 16 homes sold this past week were “AT OR OVER” the listing price – that’s close to half of all home sales. DID YOU KNOW that there are currently only 235 homes (of all types) on the market right now compared to 325 this time last year? It’s still a bit too early to say that the market is shifting towards a “BALANCED” market position, but I will be keeping my eyes on this trend over the next few weeks.
Here is the breakdown by property type for this past week (Nov. 8 – Nov. 14)- 1 Building Lot
- 1 Mobile
- 2 Townhouses
- 5 Condos
- 7 Single Family Homes
- 1 Mobile
- 1 Townhouse
- 2 Full-Duplexes
- 5 Condos
- 6 Half-Duplexes
- 7 Single Family Homes