$5 – $10 million range

Looks as though we had 52 homes priced in this range go to closing this past year, vs. just 38 in 2011. That’s good news for would-be sellers in this range (and there are either 94 such homes or 80, depending on whose statistics you use), but a word of caution: most of the increase in sales activity is from houses that dropped their prices from the $7s down to the low $5s. There’s a lesson there.

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2 responses to “$5 – $10 million range

  1. whatever

    so much for your views that homes don’t move in this price range

    • Read it again – homes in this price range can sell, and do sell, but only when their owners put down the bong and chop $2 or $3 million off the price, or more. I keep saying that buyers want to perceive value and in fact I’m selling houses to that clientele, but the value has to be there. Once it is, the actual price range doesn’t matter.