Let’s Compare

Friday, Dec. 04 2009  |  Posted by: Steve Stockwood  |  0 comments

Although the average residential home sale price was down in 2009 from $322,281 to $292,325 and unit sales down just 7 units from 206 to 199 compared to 2008, November is showing the signs of recovery, and if the trend continues into 2010 then we're back on track for higher sale prices and units sold. November unit sales in 2008 topped out at 12, 2009 show and impressive 21 unit sales. Total sales in Cranbrook showed a similar pattern with unit sales in 2009 being 312, down from 387 unit sales in 2008. Yet November total sales were up in 2009 to 34 sales compared to 23 sales.

Cranbrook Rural showed less downturn in 2009 with the average house selling for $432,727 only down slightly from $443,100 in 2008. But again we see unit sales in November up from 1 in 2008 to 8 in 2009.

What does all this mean, well if you're a buyer, the things probably won't get much better than these conditions for a long time, especially when you consider that interest rates are still at an incredibly low rate. 

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