PRESS RELEASE FROM THE QUINTE & DISTRICT REAL ESTATE BOARD INC.
Dollar sales, Year to Date, 2008 decreased by 13.7%, going from $619,412,799 in 2007 to
$534,271,991 in 2008.
The number of new listings, year to date, increased 14.8%, from 6,184 in 2007 to 7,101 in 2008.
Average Residential Purchase Price
The Year to Date, 2008 Average Purchase Price of a residential home in the Quinte Area has increased
to $201,563, up 2.4% from the 2007 price of $196,830.
The Quinte & District Real Estate Market has 917 more listings available for sale at the end of October 2008 than were listed at the same point in 2007 and our Buyer’s Market continues.
October Sales are down 18.7% over October 2007 but it would be prudent to remember that we are
comparing this year’s sales with one of the most prolific boom years for real estate in our recent history.
Motivated Sellers must heed the advice of their REALTOR® and make the necessary price reductions if
they wish or need to reach a firm agreement of sale before the end of 2008.
Failing this we may be waiting a while for a positive market correction in the current climate of economic uncertainty as we continue through our traditionally slower winter months.
For local market expertise and information, be sure to use the professional services of one of our
REALTOR® members. Also please note that these statistics represent the entire Board jurisdiction and
statistics vary from area to area.
MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure
maximum exposure of properties listed for sale.
Visit our website at www.quinte-MLS.com
The Quinte & District Real Estate Board serves the interest of 419 licensed real estate practitioners in the Belleville, Quinte West, Prince Edward, Madoc, Marmora, Stirling, Tweed, Brighton, Campbellford/Seymour, Colborne, and Deseronto areas as well as other adjacent communities.
Provided by Quinte and District Real Estate Board