Let’s compare the NSDCC detached-home sales closed during first five months of the year, and the percentage of million-dollar sales:
NSDCC Detached-Home Sales, Jan – May
It’s incredible how total sales have held up in spite of the rapid rise in pricing.
Also note the similar jump in million-dollar sales between 2003-2004 and 2012-2013. The $1M sales dropped off a little after 2004, but this time they kept going higher – almost 700 million-dollar sales in the last five months!
You can also appreciate why the lower-end is so hot – buyers must feel like they are just hanging on!