When we write our blog, we always look to what we’ve been experiencing lately or what’s been going on in a particular week. For me, there’s been so much activity recently in the high end market, I wanted to write about what’s happening there. So I did my usual market analysis and was surprised to find that the MLS doesn’t really reflect that much of a change in the high end at all yet. However, with all that is going on and all the offers that are being made on $2 million+ properties in our office, those statistics are bound to change in the next 6 months. While part of this activity is due to the fact that sellers are continuing to get realistic, it’s also in part due to the fact that buyers are feeling comfortable again with the real estate market.
In the past two weeks in my office, I’ve put a $2 million+ house under contract, had an offer on my Snapper Creek lots priced at $6 million, and had an offer that didn’t work out on my 2 Leucadendra property in Gables Estates, listed at $6.3 million. This is more action in the past two weeks than these types of listings have seen in a long while. So while it’s still not reflected in the market statistics in the MLS, over the next several months I predict that we’re going to see evidence that supports this buzz of activity in the high end sector coming out. Let the fun begin!