The First Half of 2016

July 6, 2016
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Sales have been very strong the first half of the year despite the low inventory.  Year over year the total volume decliend 7% but the median home price increased 80% from $605,000 to $1,090,000.  More than half of the sales were between $227,500 and $1M which is a nice change from the last several years when the majority of the homes were all over $1M.  

A few of the upper end homes that have been on the market for over a year finally sold or went under contract.  And new construction continues to be seen all over the neighborhood with lots to be scraped selling for $660k-900k, and a Carolyn Heights property, that was sold at $1.5M a year ago to be scrapped, is back on the market at $2.195M with the only improvement being the removal of the tennis court.