Are all price points selling?
There is much discussion about how the real estate market is in the middle of its turnaround based on sales increasing on a year-over-year basis. Though the fact that housing is again moving is fabulous news, let’s not lose sight of which homes are selling. Here is a closer look at different price ranges and how they are faring in the current ‘boom’:
$0-100,000 sales up 38.8% $100,000 – 250,000 sales up 8.7% $250,000 -5 00,000 sales down 6.2% $500,000 – 750,000 sales down 8.9% $750,000 – 1,000,000 sales down 10.6% $1,000,000 – 2,000,000 sales down 23.3% $2,000,000+ sales down 32.4%
As we can see, this rebound has only affected the lower price points. Make sure your upper end sellers realize what is actually happening behind the headlines.