Here’s some encouraging news early in 2010. Last year, we had trouble moving the housing inventory priced over $300,000. The 1st Time Buyer Tax Credit favored homes priced below $200,000. Many of those lower priced homes were owned by the banks (REO) so when they sold, there was no trickle-up benefiting the higher priced homes. It was a tough year for sellers who had upscale homes.
I spend Monday mornings checking the stats from the past week. This morning I noticed that for my office, 40% of the homes that are in-contract are priced over $300,000! One of those homes is my listing. This is terrific news for all these sellers!
Of course the Real Living HER Powell office is in an upscale suburb, and my fellow office-mates are accustomed to marketing high-ticket homes, but even so, it’s very encouraging to see these luxury homes find buyers.
