Residential sales statistics for the third quarter of 2006 in the Harbor Springs School District indicate that we may have reached a bottom in the market, at least for the time being. There were 49 residential sales in the third quarter of 2006, compared with 46 sales in the third quarter of 2005. Despite the increase in unit volume, dollar volume still continued to fall, from $20,174,056 in the third quarter of 2005 to $15,454,150 in the third quarter of 2006, a drop of over 23%.
The numbers for the recent quarter are significantly lower than the record numbers posted in the third quarter of 2004, which saw 67 unit sales and total dollar volume of $23,074,162. Have we turned a corner? Let's hope so. Only time will tell.
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