2015 Single family home sales up to $999,999 are Up 11% over 2014. 2015 was the 2nd best year for foothills home sales since 2005 - and Up a whopping 54% since scraping bottom in 2008. December sales provided the final push – they’re up 37% over December 2014.
On the other hand, uh … at $1,000,000 & UP the market is D-O-W-N
2015 is tied with 2013 for the honor of fewest sales of any year since 2003 – when 27 sold. Yikes!
I want to think this market will (somehow) turn itself around. But at this point it’s just wishful thinking. So ignore it. There are 74 homes for sale priced from $1,000,000 to $13,900,000 and 6 in contract priced from $1,025,000 to $1,649,000. Plus one listed at $2,495,000 that's been in contract since May 2014. And that’s it.
While sales up to $999k are recovering nicely, sold prices are increasing at a snails pace. Median sold prices are up just 2.75% over 2014 – and up less than 10% since scraping bottom in 2012. And they’re still down 25% from their 2006 peak. You’d think with sales increasing as nicely as they have that we’d see a more robust increase in prices.
Hail Hail 2016!
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