Luxury Home Sales

Posted at 10:18 AM, Nov. 8, 2007

The market for higher priced homes in this area is quite healthy this year. Through the end of October there were 4 sales totaling $5,299,000. The most expensive home sold was $1,670,000. Currently there are 3 homes pending and expected to close by the end of the year. They total $2,550,000 as listed. Should they close, we will have our best year in this category since I have been here (9 years). Our previous best year was 5 home sales. The current inventory of luxury homes, (homes priced at $750,00 or more), has 20 listings. These range in price up to $1,750,000. That number represents 3 years of sales so if you have a home in this category, do not expect it to sell quickly!