As you can see by the chart above as well as reading the market reports. The amount of transactions are up which is a great sign for the overall market. However, they are mostly in the lower price ranges. Hence you see a decrease in the median prices. This chart shows that through February 71% of all the properties sold are under $2M.
Year to Date Available
Comparing these two charts you see the difficulty in the market. 71% of the sold properties are under $2M. Yet, only 38% of the inventory is under $2M. So, if you are buying in that price range you are in a very competitive situation. Conversely, if you are selling in the higher price range you are also in a competitive situation with the inventory. This is where pricing and nicely the home shows becomes imperative.
