Market adjusts to economic conditions

Buyers focused their attention on property selling for under $1 million and there was a significant shift in the price bracket.

Last month 46% of sales were priced at under $1 million. For most months this year sales in the under $1 million price category have ranged between the low 30% to 40% of total sales.

That percentage rose to 46% of the 614 sales made during September. Forty six properties were sold in excess of $2 million, the same number as last month.

Buyers remain cautious, with sales numbers up 6.2% n those for August but down 7.8% on those for September last year.