A SLOW & SLUGGISH WEEK OF HOME SALES IN THE PENTICTON REAL ESTATE MARKET.
JUST 14 properties SOLD in PENTICTON this past week. That’s DOWN 5 sales from a week ago (19), and DOWN 6 sales (20) for the same time period one year ago. The highest priced transaction was a Single-Family home that sold on the North side of Penticton for more than $840,000. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 97%, with not one of the 14 properties selling at or over there stated listing price. Inventory levels in the City of Penticton continue to GROW to record HIGH levels. We now have 531 properties (of all types) “For Sale” right now in the city compared to 398 homes this time last year – that’s an increase in inventory of +33% year over year. Buyer’s (at this moment in time) are still STRONGLY in control of today’s real estate marketplace.SALES by property type for the 14 properties SOLD this past week (May 13 – May 19). Breakdown is as follows:
- 2 Townhomes
- 3 Half-Duplexes
- 4 Single Family Homes
- 5 Condos
- 1 Mobile Home
- 10 Townhomes
- 17 Condos
- 14 Single Family Homes
CONNECT WITH SHANNON SIMPSON