Active
Volume: 218 (-5.6%)
Low: $798,000 (-3.7%)
High: $29,995,000 (0)
Average: $3,807,019.07 (-1.4%)
Median: $2,995,000 (-.1%)
Under Contract
Volume: 45 (-2.2%)
Low: $595,000 (0)
High: $14,900,000 (+53%)
Average: $2,852,944.44 (+14%)
Median: $2,099,000 (+8.3%)
Pending
Volume: 32 (-5.9%)
Low: $829,500 (0)
High: $6,450,000 (-49%)
Average: $2,657,960.59 (-13%)
Median: $2,312,000 (0)
Sold (last 30 days)
Volume: 53 (-3.6%)
Low: $825,000 (0)
High: $12,500,000 (+79%)
Average: $2,429,957.55 (+9.6%)
Median: $1,950,000 (+1%)
Average % Difference between List Price and Purchase Price: -4.57%
It's not surprising to see inventory dropping as we head into the end of the year. However, what is surprising is to see several, high-priced outliers moving. There aren't many properties over 10 million, but there are several and they are moving slightly. It is very evident how much they're impacting the data, but it's somewhat encouraging given the all of the negative reports on the luxury housing market. Across the board, I think it is a good example of good dirt being most valuable and not necessarily the construction.
I have a client now who is recognizing that the difficulty of buying in luxury housing markets is that the dirt is the expensive part of the deal. Almost anyone can build something newer, better, greater..., but a property is always further enhanced by the dirt on which it is situated. I think we are seeing just that in the market place because people are becoming more particular about what style of house that they want.
Tomorrow is condos and town homes.
Volume: 218 (-5.6%)
Low: $798,000 (-3.7%)
High: $29,995,000 (0)
Average: $3,807,019.07 (-1.4%)
Median: $2,995,000 (-.1%)
Under Contract
Volume: 45 (-2.2%)
Low: $595,000 (0)
High: $14,900,000 (+53%)
Average: $2,852,944.44 (+14%)
Median: $2,099,000 (+8.3%)
Pending
Volume: 32 (-5.9%)
Low: $829,500 (0)
High: $6,450,000 (-49%)
Average: $2,657,960.59 (-13%)
Median: $2,312,000 (0)
Sold (last 30 days)
Volume: 53 (-3.6%)
Low: $825,000 (0)
High: $12,500,000 (+79%)
Average: $2,429,957.55 (+9.6%)
Median: $1,950,000 (+1%)
Average % Difference between List Price and Purchase Price: -4.57%
It's not surprising to see inventory dropping as we head into the end of the year. However, what is surprising is to see several, high-priced outliers moving. There aren't many properties over 10 million, but there are several and they are moving slightly. It is very evident how much they're impacting the data, but it's somewhat encouraging given the all of the negative reports on the luxury housing market. Across the board, I think it is a good example of good dirt being most valuable and not necessarily the construction.
I have a client now who is recognizing that the difficulty of buying in luxury housing markets is that the dirt is the expensive part of the deal. Almost anyone can build something newer, better, greater..., but a property is always further enhanced by the dirt on which it is situated. I think we are seeing just that in the market place because people are becoming more particular about what style of house that they want.
Tomorrow is condos and town homes.
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