In addition to the “re-lists,” most of which came back on the market with a new price, 148 sellers approved a price adjustment in hopes of capturing a buyer before the weather turns. Most years, we would expect to see unit sales drop through the final quarter, so in all likelihood, it will just continue to get tougher for sellers to move their properties through the balance of 2008.
Residential unit sales also dipped from the previous week when 70 houses and condos traded to close the week at 52. The vast majority of those homes (49) traded below the asking price while three lucky sellers managed to meet or beat their asking price. An absence of higher end sales which have been commonplace through September brought the average selling price back below the $300,000 mark for the first time since the week of September 1-5.
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Royal LePage Vidorra