From January thru May this year, home sales at $1,000,000+ were lower than they were during the same period in 2012 – 2013. And along with 2009 & 2011 they were lower than any year since 2003. A dismal state of affairs which I’d mentioned here here here and elsewhere. And of course in May, with high inventory and summer right around the corner, it looked like we were in for another bloodbath at the upper-end.
But even though summer is the off-season, with very few upper-end sales, sales picked up this summer, and by the end of August upper-end sales were slightly ahead of where they were in 2013.
And since August, upper-end homes continued to sell. And now, through the end of November, sales at $1,000,000+ are 50% higher than there were at this time in 2013.
And there are 6 homes in contract from $1,145,000 to $2,495,000, and if they all close this year, 2014 would nudge past 2012 for the honor of highest sales during this alleged post boom/bust real estate recovery.
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