Price Reductions
I was interested to compare the number of price reductions happening this year, to the number of price reductions from other years.
It is not a statistically valid comparison, as I have used the sales ( 14 ) on one lake for the month of May as the basis of my 2008 number, however it does give me some perspective. The figure for all other years represents all sales on the same lake for the year.
Percentage of Sold Cottages That Had a Price Reduction Before Selling
2008 42.8 %
2007 48.4 %
2006 39.4 %
2005 38.1 %
2004 38.4 %
Making this kind of comparison helps to understand this year’s activity.
The number of price reductions to the end of May are not out of line with previous years.
I will continue to present activity on this year’s market in the perspective of its comparison to previous years, to give us all insight.
Soon I will have the statistics for June completed, and this will give a second quarter perspective on the number of price reductions.
I will make a comparison of the number of days on the market this year, compared to previous years.
I will also compare the value percentage of price reductions for this year to other years.
Have a good long week end.