Price Point Pressure

After having slowed and almost stalling completely since March, homes prices in my area of $800,000 and above have just begun to dip again. At the same time, single family homes in the lower bracket of about $450,000 to $550,000 have seen an increase in sales and prices have stalled slightly as the inventory has declined. This is creating an odd scenario, in my opinion, of differing price pressure on homes in the mid-range. I feel that we may see a slight dip again in prices soon across the board and then another leveling off, perhaps around late summer and into fall.

“It is better to be prepared for an opportunity and not have one, than to have an opportunity and not be prepared.” -Whitney Young, Jr.

Jackie Gibbins, First Team Real Estate

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