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Posted: September 19, 2017 by Edward Sanford
With August real estate sales in the books, house sales for 2017 are still slightly lower than 2016. All of the decline is below $2,000,000, which is a direct reflection of the decline in inventory in that price range. As of August 31, 2017 there were only 19 houses listed under $1,000,000. As a result, below $2,000,000, transaction volume is down 20%. Inversely volume is up 18% above $2,000,000. This discrepancy is reflected in total dollar volume which is up 12% over last year on 7% fewer transactions.
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