Along with the rest of the market there are signs that the million+ market in the foothills is also improving.
Five or six months ago there were about 150 homes for sale at $1.0+.
Today there are 103, so a 30% drop in inventory.
Some of them sold at $1.0+, some sold for under $1.0 and some dropped off the market. And are sure to return.
Over the past 30 days 8 homes sold at a million+.
Same period last year- 7 sold.
Same period in 07- 5 sold.
So WOW! recent sales look good.
But looking at YTD sales at $1.0+, we’ve got some catching up to do; -so far this year 32 homes sold at $1.0+
-same period last year- 46 sold
-same period in 07- 70 sold
-and just to stretch a point, same period in 06- 94 sold.
So for now, hold off on the hats n’ horns.
What about sold prices for $million + homes
For 1/1 – 8/30, average/median & $$/sf prices
-this year- $1,406,594/$1,216,000 & $291/sf
-last year- $1,524,179/$1,375,000 & $329/sf
- in 07 - $1,470,938/$1,321,500 & $328/sf
- in 06 - $1,474,553/$1,250,000 & $327/sf
I had to go back to 2003 to find sold prices similar to this years.
- 2003 - $1,409,500/$1,145,000 & $294/sf
And like this time in 03, when the country was recovering from the fear and panic of 9/11 and the stock market crash, we now seem to be on a similar path.
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