HELLO MR. SNOW…..THIS WEATHER WILL HAVE AN EFFECT ON HOME SALES!
In total we had 14 properties SELL in Penticton this past week, that’s DOWN 3 sales (17) from the previous week, and DOWN 8 home sales (22) from the same week one year ago. The highest priced transaction was a single-family home in the Columbia/Duncan neighbourhood which sold for more than $849,000. The difference between the average listing price and the average negotiated sales price for every home SOLD this past week ended up at 98%, with only 5 properties selling “AT OR OVER” their asking price. Our current Inventory levels hover around 296+ homes (of all types) “For Sale” right now compared to 178 homes this time last year. That’s an increase in inventory year over year of 66%. We are now into our FIFTH straight month where inventory levels are 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 14 properties SOLD this past week (Oct. 31 – Nov. 6). Breakdown is as follows:
- 1 Lot
- 1 Fourplex
- 2 Townhomes
- 4 Condos
- 6 Single Family Homes
There were 23 NEW LISTINGS that hit the market last week (Oct. 31 – Nov. 6). Breakdown is as follows:
- 1 Lot
- 1 Half -Duplex
- 1 Fourplex
- 2 Mobile Homes
- 3 Condos
- 5 Townhomes
- 10 Single Family Homes
CONNECT WITH SHANNON SIMPSON