If you need assistance, please call 858-345-9040

Luxury homeowners struggles are dissapearing!

Monday, January 29, 2018   /   by Sean Zanganeh

Luxury homeowners struggles are dissapearing!

Luxury Homeowners have been constantly facing struggles for the past 5 years, finally, there is a light showing at the end of the tunnel. At last the market is starting to pick up momentum.

The KCM Blog published this article on the current market status.

"The news about the housing market still seems to be dominated by stories of pending disaster. Headlines report that some believe that there is a 25% chance of a ‘double-dip’ in home prices. We can understand the concern. The last Existing Home Sales Report by the National Association of Realtors (NAR) showed that sales were down 19% from the same time last year. Obviously, the real estate market is still struggling

However, there is a segment of the housing market that is rapidly gaining momentum –LUXURY REAL ESTATE! Just last week we reported that NAR’s 2nd Quarter Report on Home Sales Statistics showed a 6.1% increase in sales of homes over a million dollars.

The latest home sales report mentioned above (covering August closings) shows an 11.5% increase in sales over that million dollar mark! (It also showed a 4.6% increase in sales of homes between $750,000 and $1 million). Though overall sales fell almost 20%, sales of upper end properties are escalating.

Bottom Line

The wealthiest families in the country are re-entering the real estate market. That should tell everyone that the market is beginning its turn for the better."

To view the full article by the KCM Crew, click here.
My San Diego Dream Home
Sean Zanganeh
12750 High Bluff Dr, Suite 300
San Diego, CA 92130
CA DRE# #01851910

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived are protected by copyright. Compilation © 2023 San Diego MLS.
This site powered by CINC: www.cincpro.com