A QUIET WEEK OF HOME SALES IN PENTICTON!
We had only 10 properties SELL in Penticton this past week, that’s DOWN 7 sales (17) from the previous week and DOWN 13 home sale (23) from the same week one year ago. The highest priced transaction was a single-family home in the South area of Penticton which sold for more than $640,000. The difference between the combined listing price and the combined negotiated sales price for every home SOLD this past week ended up at 97%, with 2 of these 10 properties STILL selling “AT OR OVER” their asking price. Our current Inventory levels hover around 313+ 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 50%. We have now seen four straight months where inventory levels are trending higher than the previous year, and for the first time in 2+ years we have shifted into a “BUYERS MARKET”. Here are the SALES by property type for the 10 properties SOLD this past week (Oct. 17 – Oct. 23). Breakdown is as follows:
- 1 Townhome
- 4 Condos
- 5 Single Family Homes
There were 30 NEW LISTINGS that hit the market last week (Oct. 17 – Oct. 23). Breakdown is as follows:
- 1 Lot
- 1 Half Duplex
- 2 Mobile Homes
- 2 Full Duplexes
- 2 Townhomes
- 7 Condos
- 15 Single Family Homes
CONNECT WITH SHANNON SIMPSON