ANOTHER RESPECTABLE WEEK FOR HOME SALES HERE IN PENTICTON! In total, 18 homes changes hands this past week. That’s not quite up to the level from the week prior (26 homes sold), but a very good week considering that Monday was a holiday! The total retail value of these 18 transactions was just over $9.5 million dollars, compared to $11 million the prior week. The highest priced sale was a Penthouse Condo near Lakeshore Drive which sold for more than $2,000,000. WOW! The variance between list price and actual sales price was 94% this week….still much lower than the usual 97% range that’s been seen for the past six months. We are still in a “balanced” sales market in Penticton at the moment…..…but I firmly believe that the trend is moving in the direction of buyers. All in all, there’s no better time to be buying a home in the South Okanagan!
Here’s the breakdown of sales for this past week (July 1
st to July 7
th):
- 1 Mobile Home
- 1 Lot
- 1 Half-Duplex
- 4 Townhomes
- 5 Condos
- 6 Single Family Homes
