Flocke & Avoyer analysts, however, seem confident the market will rebound by the second half of next year. According to the report, only five shopping centers sold during the third quarter of the year comparedwith nearly a dozen at the same time a year ago.
While Sept. 11 might have been a factor in the lower number of sales, the economy was already slowing, according to the report. And it may just be a quarterly blip — 23 shopping centers sold in the county duringthe first nine months of the year, one more than the number sold through the first nine months of last year.
With so few transactions, the average shopping center sales price has dropped from $6.5 million in the third quarter of 2000, to $4 million in the third quarter of 2001.
More anchored centers are likely to come on line in the coming months, and many investors could be waiting to buy, according to the report.
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