hey, how’s the market doing at $1.5mil and up

Well let’s see, there are 34 homes listed for sale from $1,599,000 to $7,900,000.

And then there are 2 in contract.

And coincidentally, they’re both short sales. 
One is listed at $2,650,000 after failing to sell at $4,450,000 or at any of the many price reductions since then. And the other is now at $2,250,000 after starting out at $4.9 and going nowhere.

And nothing in that range has sold in the last 3 months, or even in the last 6 months. But there were 3 sales earlier this year of homes listed at $1.5 and up. 

One sold for $1,660,500 and the other two went for $1,850,000 each. Coincidence. 
And talk about coincidence, all 3 were foreclosures. Really. And all 3 followed the falling market, but they didn’t break a sweat doing it, and so they never caught up. That is until mr. lender came along and reared his ugly head – and then they caught up real quick. And sold in no time.

So if you’re listed at the $1.5 and up price range, but you’re not a short sale or a foreclosure, or not doing a good imitation of one, pricewise that is, well, then things are not looking up.

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