High End Coastal Sales Shoot Up
Posted by CJ de Heer on Thursday, March 3rd, 2011 at 7:23pm.Sales of homes over $900,000 in Santa Cruz County increased more than 70% in February over the previous month, signaling the high end will rebound in 2011. Year-over-year, sales over $1.5M increased from zero in 2010 to eight in 2011. (See the market statistics page for details.)
Coastal sales in particular are on the upswing, accounting for six of the eight sales over $1.5M.
More and more, I'm hearing buyers say they believe prices bottomed out last year and they're eager to get in before prices start to increase.
The second-home market was hit particularly hard last year as discretionary buyers sat on their hands watching for signs of the bottom. Solid gains in the stock market have given those buyers more buying power, as well as more bargaining power when negotiating with sellers, who are often agreeing to significant price concessions.
Print
ShareBe the first to comment on this blog entry!
Leave a Comment
Blog Navigation
Blogroll
Archives
 |