What Happened to Woodbury's Luxury Home Market in 2013?

By
Real Estate Agent with RE/MAX Results

The average housing market is up dramatically in Woodbury compared to 2012 however; the luxury market has remained about the same year over year.  In 2013 we experienced a solid number of homeowners taking advantage of low interest rates and the buyer demand for the home they would need to sell to move up to their dream home.

Here are the numbers:

2012

  • 10 homes sold over $750,000
  • The average sale price was $862,000
  • The average days on market was 120 days
  • The average home sold over $750k was a 6,000 square foot, 6 bedroom, 6 bath home

2013

  • 11 homes sold over $750,000
  • The average sale price was $855,000
  • The average days on market was only 52 days
  • The average home sold over $750k was a 5,000 square foot, 5 bedroom, 5 bath home

The good news is homes were not on the market as long but the buyers seem to be gravitating towards a smaller home.

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