PRIDE OF THE MOUNTAIN LUXURY HOMES, MID-YEAR JITTERS.
High end sales can have a life of their own. Arrowhead Woods has seen solid growth this year up the $500,000. At 80% of the market, the cabin entry home continues to be the base of our mountain real estate economy. Added to this is very nice growth from $500,000 to $1 million.
An odd situation has developed with home sales over $1 million. At the sixth month of 2016 (with awareness that something can happen in the next three days) we are down 5 sales, big bucks at the high end. Last year volume for six months was $47.8 million. 2016 is $30.9 million, off $17 million from six months of 2015.
June is an unusual month for the high end and lakefront sales to slow. Some ask if the lake is down 8 feet, could that be the cause? But it has happened before with no great disruption.
The million plus data for 2016 tops out at $2,300,000. We have sold 11 lakefront homes above this in the last 24 months. Currently we have 15 homes listed above $2.3 million. Are we having election jitters???
I wish everything I write had brilliant insightful analysis, but this one has as many angles as there will be opinions offered. Your thoughts?
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