Here’s another way to dissect the current market conditions:
|$1M – $2M|
The lower end is starved for inventory, and the high-end is bloated with offerings! The majority of the high-enders must be hoping to downsize, but it’s not killing them to hold out. It’s easier to stay put in comfortable surroundings and pay higher utility bills until that young family with 2.2 kids comes along.
For those high-enders who really want/need to move, just lower your price – the 103 closed sales in the last 60 days shows you how affluent this area is!