Sales were down double digits for every price class below $159,999. Inventories remain very low and most of the homes on the market require extensive work.
The price range from $160,000 to $179,999 saw a small increase of 3%. There is a 0.8 month supply and if anything good does come on the market, it is snapped up quickly.
The $180,000 to $199,999 category experienced around a 12% increase in sales and has a 1 months supply.
The $200,000 to $399,000 range continues to be the spot in the market with the most demand. 45% of the total sales come from this price range. There is about a 1.8 month supply.
The $400,000 to $599,999 area sales are up around 21%. There are a little more choices for buyers with the months of inventory at 3.6 months.
If you are looking in the $600,000 to 899,999 area sales remain strong up an average of 17%. There is a 5.6 month supply. This is getting close to a balanced market.
The $900,000 to $999,999 price range is kind of an oddity. There just are not many homes in the range and sales have been slow. There is currently a 7.2 months supply which puts this area into the Buyers camp.
Sales in the $1,000,000 plus category are up 12% for the year so there are defiantly buyers out there. The months of inventory stands at 8.8 months. Buyers you have some advantages of properties to choose from and negotiating room.
Information provided by The Real Estate Center.