Monday Market Report September 5, 2022 – September 11, 2022

OFF TO A SLOW START FOR THE MONTH OF SEPTEMEBER!

In total, only 11 properties SOLD in Penticton this past week, that’s 3 fewer sales (14) from the previous week, and DOWN 17 home sales (28) 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 $700,000. The difference between the listing price and the negotiated sales price for ALL homes SOLD this past week ended up at 99%, with 4 of the 11 properties selling “AT OR OVER” their asking price. Our current Inventory levels continue to hover around 300+ 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 +43% – A VERY WELCOMED TREND!

Here are the SALES by property type for the 11 properties SOLD this past week (Sept. 5 – Sept. 11). Breakdown is as follows:

  • 1 Lot
  • 2 Mobile Homes
  • 2 Single Family Homes
  • 3 Condos
  • 3 Townhomes

There were 24 NEW LISTINGS that hit the market last week (Sept. 5 – Sept 11). Breakdown is as follows:

  • 1 Mobile Home
  • 2 Townhomes
  • 3 Lots
  • 4 Condos
  • 14 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!

CONNECT WITH SHANNON SIMPSON

https://www.simpsonsellspenticton.ca/contact-shannon