The Numbers – April 2010
The historically busy spring real estate market is in full swing. All activity (both on the buyer and seller sides) has picked up significantly in the Penticton’s real estate market. Despite supply outpacing increasing demand, we are also continuing to see across board price increases.

• There were 181 new listings in April 2010. 175 in April of 2009. March showed 193 new listings.
• Sales came in at 86 units sold where last year this month we had 76 units sold.
• sell/list ratio 48%
• average sales price $326,938
• sell price / list price 96%
• days on market averages 89 days last year average market time was 109 days

Buyers appeared to be hesitant. Prices generally continued in their upward trajectory, but with big jumps in inventory (new listings) and smaller increases in sales the upward pressure on prices eased.

Earlier this month I had the pleasure of attending one of Paul Fabri’s presentations on the Penticton Market place at the Penticton Golf and Country Club. I had seen Paul the month before with a similar presentation at the Royal LePage Awards Breakfast at the Penticton Lakeside resort but couldn’t resist the opportunity to listen and learn once again. Paul is a Senior Market analyst for Kelowna and the Southern interior. He is an economist who works for the Canadian Mortgage Housing Corporation (CMHC).  I was so wrapped up in this busy market that I did not get the chance to post what I found to be very informative informaiton on local real estate market conditions and forecasting.2010 See for yourself what the local housing market facts tell us. If you would like this presentation explained please contact me and I can go over the trends with you.

125 Bracewell Dr. $339,900. Seize this opportunity to get a solid home in a great neighbourhood. Columbia heights is a great family area in Penticton BC. Tennis courts, baseball fields, convenience stores all a short walk from this large family home. This home has 3  beds up. Roof is almost new. Furnace is brand new and duct work professionally cleaned.

This home needs

• a kitchen facelift
• appliances
• flooring
• paint
• some windows/hot water tank

Features

• large backyard
• walking path, privacy
• 3 beds up
• ensuite
• large rooms
• curb appeal
• wood burning fireplaces
• single car garage
• lots of living space
• deck off of dining area
• extra parking
• New Roof – clean ducts
• Good neighbours
• over 2,000 sq ft

Family Home

Easy to show, call for your appointment today!

Greenwood Dr

Skaha Benches

The finnerty townhome appeals to many types of buyers, it’s perfect for couples,  snowbirds or even a family.It has a great lakeview from the living/ding areas and masterbedroom. Dbl car garage and one owner kept in great condition. It’s located in a pet friendly townhome complex complete with a gym and clubhouse.  Skaha benches is a desirable complex and this unit has a fabulous floor plan with back patio to saok up the sun.  The second new listing  is a single family home in a great neighbhourhood. It is ideal for retirees, a young couple or small  family to make their very own. The interior is dated but incredibly open. The most open floor plan I have seen for a home built in the 80′s. The pool and hot tub haven’t been operational for a few years but the feeling in the backyard is unbeatable. Some new colours, flooring and appliances would make a world of diference and the price point allows for such updating. A new roof, some windows have been replaced but all in all I know there will be some folks trying to sell their family home for a chance to own this once level home.

My guess is a savvy buyer who has done his research and is waiting for the perfect home will jump on this before anyone else has time to run to the bank. I already have some realtors dancing in their pants for the listing to come on the system…but I like this house so much I need a day to absorb all the neat features and details before the frenzy begins. Handymen will drool over all that they can do to make this home their own. Although the pool and hot tub need some TLC and the dated interior it screams YOUR NEW HOME. It is an estate sale and I am sure the executors if local would keep it for themselves. Brace yourself… the one you have been waiting for has hit the market!!!