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Here’s another way to dissect the current market conditions:

Price
Active Listings
%
Pendings
%
Solds last 60 days
%
Under $1M
155
13%
140
34%
213
36%
$1M – $2M
437
38%
207
50%
273
46%
Over $2M
569
49%
65
16%
103
17%
Totals
1,161
100%
412
100%
589
100%

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!

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