IS THE PENTICTON HOUSING MARKET STARTING TO COOL?
In total, only 16 homes changed hands this past week in the Penticton region, that’s DOWN 7 properties (23) from the week prior, and DOWN 9 sales (25) for the same week one year ago. The TOTAL value of these 16 purchases was just over $14 million compared to $19 million the week prior. The highest priced sale was a Single-Family Home on the South side of Penticton which had a “SOLD” tag of more than $2.3 million dollars. The difference between the listing price and actual negotiated sales price for the week was 100%. 9 of the 16 homes sold this week were “AT OR OVER” the listing price. It’s too early to say that the market is shifting into a more “BALANCED” position, but if this week is any indication of what the future has in store, we might just be headed in that direction!
Here is the breakdown by property type for this past week (Oct. 11 – Oct. 17)- 1 Mobile Homes
- 1 Building Lots
- 2 Condos
- 3 Townhouses
- 9 Single Family Homes