Homes priced from $400,000 to $999,999 saw inventory decrease for the fourth month in a row. At a 6 month inventory of homes for sale that is technically a balanced market with no preference to the buyer or seller. However, generally it is still a buyer’s market as buyers are only buying the best and brightest and all want a “good deal”.
Homes priced from $1 million to $1.5 million saw inventory levels decrease slightly from prior month however sales were down 20%.
Homes priced from $1.5 million to $2 million saw inventory down slightly from prior month. Sales were up 60% which was a large increase in units sold from prior month. I will watch this going forward as it should drop with the onset of summer months however this was a large increase.
Homes priced over $2 million saw sales and inventory pretty much the same as the prior month. The high end still has a high level of inventory and this is where the best deal can be made as the pressure on the high end has been steady for sometime with high carry costs.
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