Two months ago I wrote an article on this blog outlining the huge drop off in high end home sales in Dakota County. Those homes were defined as ones that sold for more than $500k - High End Home Sales Trends in Dakota County Since 2005. As was discussed in the article, the number of $500,000+ homes sold had dropped 75% since its peak in 2005 & 2006.
I decided to go pull a report from MLS to see if there was any renewed activity in this segment. We are in the dead of winter which isn't a great time to buy but there definitely hasn't been any new momentum -
As you can see, there have been only 10 homes sold during the first 2+ months of 2010. I will keep a close on eye on this but I think it's fair to say that so far, high end home sales in Dakota County are still really slow and while we are starting to see lots of activity in the lower price points, at the upper end it is still very much a buyer's market.
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