High-end Seller's may finally have something to smile about with regards to sales in the $1 million-plus-market. Everyone has been waiting for some good news and it seems that the tide has started to turn...slowly, at least. Sales in the higher end showed a 42 percent increase from August to September and were up a whopping 170% over the same time last year as reported by MSC.
The market has also seen the number of pending contracts increase, too. Nearly a 77% increase from last year.
What is also interesting is that home sales are down 23% from last year. This suggests that the market is continuing to find its balance. If these numbers hold true, we are likely to see small increases in property values.
With a strong inventory of homes over $1 million dollars, Sarasota is primed to move a large number of homes during the upcoming season. And with rates hovering around 4%, there may not be a better time. People will look back in 5 years and will look like geniuses.
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