We saw that the first-half sales were 4% under last year’s count – has it been getting worse lately?  Yes, and the high-end is where the trouble is:

NSDCC Detached-Home Sales, July:

Year
# Closed Sales
Avg $$/sf
Median SP
# of Sales Over $2M
2016
312
$507/sf
$1,200,000
60
2017
363
$529/sf
$1,260,000
73
2018
299
$606/sf
$1,350,000
74
2019
281
$612/sf
$1,300,000
64
Latest YoY
-6%
+1%
-4%
-14%

We have 546 active listings of NSDCC homes priced over $2,000,000/46 = 12-month supply.

Low rates, more inventory, strong employment, and record Dow hasn’t helped much yet. But we know there’s nothing that price won’t fix!

Get Good Help!

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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