Real estate sales are forecast to wind down this month as sellers temporarily shelve properties and come back to the market with readjusted prices next year.

Recent numbers show that properties sold in Melbourne now number more than 1,000. Overall, the auctions market delivered another disappointing result over the weekend, with Sydney's clearance rate falling under 50 percent says the Australian Property Monitors.

The President of the Real Estate Institute of Australia, David Airey, adds that due to a disappointing spring period and the upcoming holiday season, sellers looking for a price they haven't yet been able to achieve will reconsider their strategy. "There is no question that if their houses haven't sold, and if they can't afford to keep them, they're more than likely going to give it perhaps another weekend and then think about taking it off the market," he said. "Then what will happen is that we'll see these sellers putting them fresh on the market in January or February after this two or three week hiatus. Then what we're going to see is that sellers will reflect on how urgently they need to sell and what price they can realistically get."

Property analysts comment that despite more choices in the market, buyers are hesitant after a recent interest rate hike and increasing market prices. Sydney has a clearance rate of 49.9 percent with 298 auctions finalized and total sales amounting to US$129.4 million says the Australian Property Monitors.