Woodbury Luxury Home Sales

Real Estate Agent with RE/MAX Results

The media has reported that the housing market is rebounding, right?  Activity is up, sales are up, inventory is shrinking and prices are on the rise.  Not so fast!  As a Broker that focuses on the luxury home market I can tell you we have a ways to go.  While closed sales overall are up about 10% over last year in Woodbury, home sales with a sales price of $369,000 or higher are only up 1.2% and the inventory of these higher priced homes is only down about 18% compared to the market average inventory that is down a total of 31%.  An even closer look at what I consider to be the upper-bracket housing market in Woodbury shows that home sales of homes priced $500,000 and above have actually declined 14% compared to 2011 at this time and luxury home sales in Woodbury are down 20% this year compared to the same 9 months of 2010.

The good news is interest rates remain low and pending home sales are up 20% in the luxury market so I feel the 4th quarter will be a strong finish to 2012.


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Wade Hanson

Luxury Broker
Need Professional Real Estate Advice?