Here's a chart based on NAR's June data for existing single family home sales by sales price.
As illustrated by the blue bars in the graph below, sales of luxury made up a small percentage of the total transactions and the vast majority of sales were in the sub-$500k price ranges. This is typical.
What's interesting and perhaps less expected is the amount that year-over-year sales (red bars) are up at the higher price points:
- $500k-$750k: up almost 20%
- $750k-$1M: up almost 30%
- $1M+: up 35%
It is no secret that 2009 was a pretty dismal year in most markets. Still, a lift of this size is "good news" for the upper-tier. With our housing market challenges far from behind us it is nice to see good news like this once in a while.
