How much impact has the tax credit had on the market?

Here is the summary of detached sales and avg. $$ per square foot in the same zip codes combined from yesterday, for the January 1st through April 15th period:

Year $800,000- $800,001+
2009
538/$285 psf
282/$451 psf
2010
706/$297 psf
400/$411 psf
YOY Diff
+31%/+4%
+42%/-9%

Sales above $800,000 have increased sharply (+42% YOY) without the government cheese – but the lower pricing must be a contributing factor.

5 Comments

  1. doughboy

    Brie wins over Velveeta!

  2. Chuck Ponzi

    Well,

    Remember though, that during the same time in 2009, that jumbos were spread 3 to 5% from agencies. Now, the spread is back to a normal <1% in most cases. There's little comparison from a financing perspective, which is largely why the over 800K market has reopened.

    It's still far from healthy though, as the pricing is showing.

  3. justme

    “It’s still far from healthy though, as the pricing is showing.”

    What is healthy for this >800 crowd.

  4. shadash

    Real Estate cheese is rich person welfare.

    Just start foreclosing

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