statistics and updates on luxury home sales in states with high costs neighboroods
Data from the Mortgage Bankers Association reports that in January residential purchase loans between $1 million to $5 million were the fastest growing share of the mortgage market. Wealthy borrowers are looking for these larger sized loans now as luxury home prices increase and lenders attract them with competitive loan programs. Due to the fact Read more about Will Million Dollar Mortgage Loans Increase This Year Too?[…]
Although the real estate market from coast to coast has tapered off, one sector of the housing market that is still surging is in luxury home sales during the third quarter. Robert Frank of CNBC wealth reporting claims high demand, low inventory and higher prices are the main driver for the higher-end residential homes sales Read more about Housing Market’s Bright Spot in Q3[…]
The Tucson luxury market is defined at $800,000 and above. “In the Tucson area, October 2013 luxury active inventory was 268 homes, a 15.5% increase from October 2012. Months of inventory was 38.3 months up from 21.1 in October 2012. The median price of sold homes was $1,162,500 for the month of October 2013, down Read more about Heightened Activity in Tucson High End Market[…]
Based on real estate market reports by StreetEasy and the MLS, Beverly Hills, California, and New York’s Upper West Side are the leaders in home sales prices over $10 million in the last 12 months. Coldwell Banker claims Beverly Hills’ 90210 ZIP code had 18 purchase transactions and Manhattan’s 10023 had 17 in the year Read more about Familiar Cities At Top of Million Dollar Homes Sales[…]