Ultra high end market is showing a drop in demand

By
Real Estate Agent with Harvest Realty

As we all know, real estate is ruled by supply and demand.  When there is an imbalance, prices rise or fall.  For seven and eight figure buyers in New York City, builders and developers have created more supply than what the current demand is.  Sellers are taking a variety of approaches because of this situation.

Meanwhile closer to home, there is still a sellers market for six figure homes in Central Indiana.  Some buyers are heading to new home builders in Central Indiana to find what there are looking for.  If you are looking for a six figure home in Central Indiana, we can help.

Here is an interesting article from the NY Times about the over supply in the ultra luxury market.  This link goes directly to the NY Times website.)

 

http://www.nytimes.com/2016/07/12/realestate/luxury/slow-times-on-billionaires-row-as-the-8-digit-boom-fizzles.html

Comments (2)

Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thank you for taking the time to share this report with us.  This is great information for buyers and sellers alike.

Jul 12, 2016 11:28 PM
Dan Rosenberger
Harvest Realty - Westfield, IN

Hi Jim, It is interesting how in any market, there can be an over-supply in relation to the demand.  The law of supply and demand will eventually sort out the imbalance.

Jul 13, 2016 01:56 AM