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hanging on

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

Year
$1M Sales
Total # of Sales
$1M Percentage
Median SP
2002
302
1,568
19%
$610,000
2003
316
1,411
22%
$680,000
2004
593
1,380
43%
$925,000
2005
585
1,244
47%
$969,500
2006
534
1,109
48%
$989,000
2007
549
1,120
49%
$979,950
2008
377
950
40%
$950,000
2009
230
696
33%
$796,000
2010
333
975
34%
$825,000
2011
395
1,030
38%
$847,037
2012
371
1,138
33%
$800,000
2013
562
1,337
42%
$900,000
2014
559
1,108
50%
$1,000,000
2015
687
1,194
58%
$1,130,000
2016
692
1,166
59%
$1,150,000

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!

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