While our markets tend to move in the same direction, generally homes in the entry and middle price ranges tend to sell faster than upper-end properties due to the larger pool of buyers who can afford them. However, in recent years, prices have risen, and the availability of affordable homes has decreased. While supply is less of an issue in upper-end markets, today’s buyers are more discerning than ever, looking for move-in-ready homes and desirable community activities and lifestyles.
Although there may not be as many bidding wars as last year, buyers will still pay high prices for the best homes in all price ranges. This month’s report focuses on a breakdown of markets by price range looking at the percentage of sales that sold above full asking price, and within 10 days or less.