September Residential Highlights
While sales activity in the
Third Quarter Report
In the third quarter of 2008, there was a 15% decrease in new listings (14,089 v. 16,573) when compared to the same period a year ago. Closed sales fell 26.4% (5,409 v. 7,351), while pending sales dropped 18.5% (5,471 v. 6,711).
The average sale price for September 2008 was down 5.6% compared to September 2007, while the median sale price dropped 5.8%. Month-to-month, the average sale price and median sale price are both down when compared with August levels; the average sale price dropped 4.8% ($315,300 v. $331,300) and the median sale price was down 4.6% ($267,000 v. $280,000).
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