The latest home inventory report shows the demand for local homes is starting off 2010
at its highest levels in 5 years.
Homes listed for under $750,000 are selling like wildfire, with multiple offers on most homes and sales prices above the list prices. The expected market time of homes in this price range is less than 2 months meaning that there is a lot of competition for these homes.
There is starting to be more interest in homes listed from $750,000 to $1.5 million. Many homes for sale in this price range are starting to receive the same sort of attention and multiple offers as their less expensive counterparts.
The higher range market – those homes listed above $1.5 million – has a current market time of 8.4 months and has little to no interest being presented.
The home market is best for the lower priced homes but there is hope that the market will continue to improve.
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