HOME SALES CONTINUE TO SOFTEN AS WE ROLL INTO OCTOBER!
In total, just 12 properties SOLD in Penticton this past week, that’s DOWN 2 sales (14) from the previous week, but DOWN 11 home sales (23) from the same week one year ago. The highest priced transaction was a single-family home in the main South area which sold for more than $1.8 Million. The difference between the listing price and the negotiated sales price for ALL homes SOLD this past week ended up at 97%, and only 4 of the 12 properties sold “AT OR OVER” their asking price. Our current Inventory levels hover around 315+ 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’ve 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 12 properties SOLD this past week (Oct. 3 – Oct. 9). Breakdown is as follows:
- 1 Half-Duplex
- 2 Townhomes
- 4 Condos
- 5 Single Family Homes
There were 26 NEW LISTINGS that hit the market last week (Oct. 3 – Oct. 9). Breakdown is as follows:
- 2 Half-Duplexes
- 3 Mobile Homes
- 3 Townhomes
- 5 Single Family Homes
- 13 Condos
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