WHAT A DISMAL WEEK OF HOME SALES TO KICK-OFF JULY IN THE PENTICTON REAL ESTATE MARKET!
JUST 8 properties SOLD in PENTICTON this past week. That’s DOWN a surprising 18 sales from a week ago (26), and DOWN 16 sales (24) for the same time period one year ago. The holiday long-weekend obviously played a major part in this decline, and I expect we will see a strong bounce back for the second week of July. The highest priced transaction was a Single-Family home up on the West Bench area of Penticton which sold for more than $1.2 million dollars. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 97%, with JUST 1 of the 8 properties selling at or over their stated listing price. Inventory levels in the City of Penticton continue to be advantageous for BUYER’S! We now have 593 properties (of all types) “For Sale” right now in the city compared to 418 homes this time last year – that’s an increase in inventory of +42% year over year. Buyer’s (at this moment in time) have a STRONG advantage in today’s real estate marketplace.SALES by property type for the 8 properties SOLD this past week (July 1 – July 7). Breakdown is as follows:
- 1 Mobile Home
- 1 Half Duplex
- 2 Townhomes
- 2 Condos
- 2 Single Family Homes
- 1 Mobile Home
- 1 Full Duplex
- 2 Lots
- 2 Half Duplexes
- 5 Townhomes
- 8 Condos
- 23 Single Family Homes
CONNECT WITH SHANNON SIMPSON