A good way to measure the strength of the spring selling season would be to examine home sales that close in May and June. In spite of medians that have jumped 30% or more in just five years, and a low-end market that has evaporated, sales in May/June of this year were very strong:
NSDCC House Sales, for May/June
It’s not the low-end that is carrying this market – it is the affluent. It’s why the market will likely keep going – people have more money than houses!
You can also see how difficult it is to downsize. Those who are looking to pocket a big windfall – hopefully the entire $500,000 tax-free amount – will recognize how hard it is to stay around the coast.
Of the 98 sold under $800,000, only 31 of them were single-story!