Market Update
Posted by Becky on 31 Jul 2008 | Tagged as: Local News, Quinte, Statistics, Trish Belford, real estate
Dollar sales for the month of June 2008 decreased by 22.1% compared to the same time in June 2007.
The number of new listings, year to date, increased 16.3% from 3,964 in 2007 to 4,611 in 2008.
These ongoing indications of decreasing market volume confirm that our area transition to a Buyer’s Market is continuing. In spite of all this, the year to date still reflects a modest increase of 3.6% in the Average Residential Sale price when compared to the first half of 2007. In this age of instant information, today’s knowledgeable Buyers, given the large increase in the number of listings available, will not waste their time on properties that are ambitiously priced above fair market value.
Source: Quinte & District Real Estate Board Inc, July 14, 2008
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