Although the last few weeks have shown sluggishness at certain price points, the market as a whole continues to move up. Year to date total volume is $427mm. This is the same YTD volume as the market was at on July 27th of last year. So, the market is lagging last year’s billion dollar pace by about 3 weeks or $27mm (this time YTD in ’14, the volume was $454mm), but remember, the market got off to an icy start as storm after storm came weekend after weekend last winter. So, will we catch the billion dollar pace? It’s going to be another nail biter. Right now there are 98 properties listed as under agreement, which is 8 ahead of last year. With an average sale price of around $2mm, that is $16mm more under agreement. Time to wrap a scarf around my head, put on my jewels, go into a dark room and become a fortune teller… The market largely tracks last year, but catches and possibly exceeds; another $1,000,000,000+ year.
Up, Down, All Around
