WHAT CAN I SAY…IT WAS ANOTHER SIZZLING WEEK OF
HOME SALES IN THE PENTICTON HOUSING MARKET!
In total we sold 43 additional properties over the past seven days, that’s an INCREASE of 23% (35 homes) vs. the week prior. The TOTAL value of these 43 purchases was just over $24 million dollars, which was also a notable INCREASE of $7.3 million dollars vs. the week before. The highest priced sale was a Single Family home in Naramata which sold for more than $1.8 million dollars. The difference between the listing price and actual sales price for the week ended up at 98%. This is right on the average sales ratio of 98% compared to last week, and also the year to date average. We are still very much locked into a “SELLERS” market with a tremendous amount of buyer “DEMAND” and not very much seller “SUPPLY”. 2020 is turning out to be a BANNER year for sales in Penticton. In fact, we are on pace to sell 875 doors this year, which will be an increase of 6% (828 homes sold) over 2019.
Here’s a breakdown of sales by property “type” for this past week (September 14th – September 20th)- 2 Townhomes
- 2 Half-Duplexes
- 2 Full Duplexes
- 2 Acreages
- 3 Mobile Homes
- 4 Building Lots
- 11 Condos
- 17 Single Family Homes
Remember…If you’re thinking of Buying or Selling the South Okanagan, please give me a call at 250-328-5138 to see how YOU fit into today’s real estate market!