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Real estate market numbers continue to decline

Local real estate numbers were less than record setting in September, but year-to-date figures continue to indicate a consistent increase over 2016.

Cathy Polan, president of the Quinte & District Association of Realtors said September’s numbers continuing the downward trend of the past couple of months.

“The September dollar sales for all property types once again came in with a decrease – 13.5 per cent below 2016, coming in at $81,263,750. The residential dollar sales is also continuing the trend of a lower figure with a decrease of 16.7 per cent below 2016 resulting in $67,784,586 September sales.”

The average residential sale price for September 2017 was $270,058 up 4.2 per cent, from $259,054 a year ago. Year-to-date residential average is $299,308 – up 16 per cent from $258,041 a year ago.

Residential sales in units also showed a decrease of 20.1 per cent, with 251 units sold in September 2017, down from 314 units sold in September 2016.

Continuing with the trend is the number of lower available residential listings, currently at 725, down from 967 in 2016. The all active listings category also shows a 20.2 per cent decrease, from 1,336 available listings in 2016 to 1,675 in 2017.

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