A NICE BUMP IN SALES AS WE ROLL THROUGH OCTOBER!
WE had 17 properties SELL in Penticton this past week, that’s UP 5 sales (12) from the previous week and UP 1 home sale (16) from the same week one year ago. The highest priced transaction was a single-family home on the West Bench which sold for more than $1.9 Million. The difference between the combined listing price and the combined negotiated sales price for every home SOLD this past week ended up at 98%, with 6 of these 17 properties STILL selling “AT OR OVER” their asking price. Our current Inventory levels hover around 304+ homes (of all types) “For Sale” right now compared to 210 homes this time last year. That’s an increase in inventory year over year of 45%. We have now seen four straight months where inventory levels are trending higher than the previous year. For the first time in more than 2+ years, we have shifted into a “BUYERS MARKET”.
Here are the SALES by property type for the 17 properties SOLD this past week (Oct. 10 – Oct. 16). Breakdown is as follows:
- 2 Condos
- 6 Half-Duplexes
- 9 Single Family Homes
There were 14 NEW LISTINGS that hit the market last week (Oct. 10 – Oct. 16). Breakdown is as follows:
- 2 Mobile Homes
- 2 Townhomes
- 4 Condos
- 6 Single Family Homes
CONNECT WITH SHANNON SIMPSON