The market is still cooking, just not boiling over. The 10%-plus increase in inventory since the beginning of the month (during the prime selling season), suggests that a pricing plateau could be forming:
The UNDER-$1,200,000 Market:
| Date | ||||
| April 29 | ||||
| May 5 | ||||
| May 9 | ||||
| May 18 | ||||
| May 23 |
The OVER-$1,200,000 Market:
| Date | ||||
| April 29 | ||||
| May 5 | ||||
| May 9 | ||||
| May 18 | ||||
| May 23 |
It is relative though, and the cheaper, the hotter!
A-rods house in Miami just sold for 30 million after paying 7.4 million in 2010. He renovated it but I’m sure he made a few bucks.
Supply and Depand is working…the invisible hand.