Holiday Slowdown: Penticton Housing Sales Decline as Christmas Season Approaches!
JUST 7 properties were sold in PENTICTON this past week. That’s DOWN 9 SALES from a week ago (16), but on par for property sales (7) for the same time period one year ago. The highest priced transaction was a Half Duplex on the North side of Penticton which sold for more than $900,000. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 97%, with only 2 of the 7 properties selling at or over their stated listing price. Inventory levels in the City of Penticton continue to favour BUYERS – but this gap is SHRINKING FAST. We currently have 402 properties (of all types) “For Sale” right now in the city compared to 381 homes available in December 2023. This is a slight INCREASE in available inventory of +5% year over year. At this moment, buyer’s continue to have a small edge on the housing market here in Penticton.7 SALES by property type for the homes SOLD this past week (Dec. 9 – Dec. 15). Breakdown is as follows:
- 1 Single Family Home
- 2 Condos
- 2 Townhomes
- 2 Half Duplexes
- 1 Half Duplex
- 2 Lots
- 5 Single Family Homes
- 6 Condos
- 6 Townhomes
CONNECT WITH SHANNON SIMPSON