PENTICTON’S HOUSING MARKET INSIGHTS: A BUYER’S MOMENT TO SHINE!
A This past week, 13 properties found their new owners in Penticton! While that’s a slight dip compared to the previous week’s 19 sales and last year’s 17 sales during the same period, there’s still plenty of action in the market.
🌟 The highlight of the week? A stunning Single-Family Home in the sought-after Wiltse/Valleyview neighbourhood, which sold for over $1.1 million! On average, buyers managed to secure properties for 98% of the listing price, with 3 out of 13 homes selling at or above their asking price.
📈 Inventory Watch: For the third week in a row, inventory levels are higher than they were last year. Currently, there are 525 properties (of all types) available for sale, compared to 495 listings in April 2024—marking a 6% year-over-year increase.
🏠 New Listings Surge: Over the past few weeks, more than 150 new properties have hit the market, giving buyers even more options to explore and choose from.
💡 Pro Tip for Buyers: As I’ve been saying all year, the scales are tipped slightly in your favor right now. With more options available, this could be your perfect opportunity to make a move!
13 SALES by property type for the homes SOLD this past week (April 14 – April 20). Breakdown is as follows:
- 1 Townhome
- 1 Half Duplex
- 3 Mobile Homes
- 4Condos
- 4 Single Family Homes
- 1 Mobile Homes
- 4 Lots
- 5 Townhomes
- 5 Half Duplexes
- 16 Condos
- 17 Single Family Homes
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