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|
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: