LITTLE CHANGE FOR HOME SALES IN THE PENTICTON REAL ESTATE MARKET.
JUST 16 properties SOLD in PENTICTON this past week. That’s UP 2 sales from a week ago (14), but DOWN 3 sales (19) for the same time period one year ago. The highest priced transaction was a Single-Family home in the Wiltse neighbourhood that sold for more than $875,000. The difference between the average listing price and the ACTUAL negotiated sales price this past week ended up at 95%, with not one of the 16 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 595 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 +49% 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 16 properties SOLD this past week (May 20 – May 26). Breakdown is as follows:
- 1 Lot
- 3 Townhomes
- 4 Condos
- 8 Single Family Homes
- 1 Full Duplex
- 3 Townhomes
- 5 Lots
- 5 Condos
- 5 Half-Duplexes
- 6 Single Family Homes
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