The latest Upscale Report shows sales continuing to rise. We still haven’t recovered to 2007 and before numbers, but are still improving on 2008 and 2009.
In the under $1 million category, new escrows were down in May from April, reflecting the expiration of the homebuyer tax credit. Prices are holding and even increasing slightly, and inventory is still fairly tight.
Upscale properties (over $1 million) showed some new life, however, with an increase in sales, new escrows, and average price per square foot.
It’s quite likely sales volumes would be even better if there were more inventory of attractive properties at attractive prices. If you’ve been on the sidelines wondering whether to list your property, contact me and we can take a detailed look. I always give an honest assessment and candid advice.
Call me if you have any questions at (808) 349-8665.
http://www.scottandmikivillard.com/SMV/Upscale_Market_Report_2010_06.pdf
