Sunday, November 16, 2008

October 2008 Kootenay Real Estate Stats

According to the latest stats the price of a residential home in the Kootenay's was 4.4% lower in October 2008 then in October 2007. The average price for October 2008 was $282,606 compared to $295,672 in the year previous.

During the same period the number of listings increased by 57.7%. This has resulted in a decrease in the number of sales to the number of listings. Represented as the sales to listing ratio we have had a drop from 16.2% in 2007 to 7.2% in 2008.

There are some excellent opportunities to purchase right now. If you have been thinking about investing in Real Estate but reluctant to jump in now may be the right time.

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