The million-dollar-plus market appears to be benefitting from the attractive low rates, and you have to wonder how many more sales would there be if there were more reasonably-priced homes for sale.  There is a sizable gap between the million-dollar club’s wishing price, and reality:

NSDCC Detached-Home Listings Over $1,000,000

NSDCC $1M+ # of Listings Avg. $/sf
LP = $722/sf
Solds YTD
SP = $501/sf

Gap? It looks more like the Grand Canyon!

The buyers are have been very patient too – sales have taken off over the last three years, but pricing remains flat. Even those $1,000,000+ sales that have closed in the last 90 days are averaging $501/sf – identical to the YTD stat:

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