Call it two good weeks in a row! We saw 20 residential properties change hands last week compared to 11 sales from the week before. Total value of these twenty property transactions was just over $8.8 million, compared to $4.2 million the week prior. The highest priced sale was a Single Family Home in the Uplands / Redlands Neighbourhood which sold for more than $825,000. The variance between list price and actual sales price was 98%. This percentage continues to stay strong, always between 96% & 98% on a weekly basis. The momentum that we’re now seeing may have me re-thinking my position that it’s the “buyers” who have the upper-hand in the Penticton housing market. One more strong week like this and we may be shifting back to a “balanced” market….or maybe even back into a “sellers” position. STAY TUNED! Monday Market Report Feb 4 – Feb 10, 2019
Call it two good weeks in a row! We saw 20 residential properties change hands last week compared to 11 sales from the week before. Total value of these twenty property transactions was just over $8.8 million, compared to $4.2 million the week prior. The highest priced sale was a Single Family Home in the Uplands / Redlands Neighbourhood which sold for more than $825,000. The variance between list price and actual sales price was 98%. This percentage continues to stay strong, always between 96% & 98% on a weekly basis. The momentum that we’re now seeing may have me re-thinking my position that it’s the “buyers” who have the upper-hand in the Penticton housing market. One more strong week like this and we may be shifting back to a “balanced” market….or maybe even back into a “sellers” position. STAY TUNED!