Luxury Sales Bounce Back

Posted On: Sunday, June 6, 2010 - 7:26pm | Posted By: Donald Feaster
Topics: Market Statistics | Tags: hi end, hi-end, high end, high-end, luxury property

Bidding wars for a $2 million house?  Sales of high-end homes return to levels not seen since the boom according to a recent Wall Street Journal article.

After a near-disastrous 2009, the luxury market appears to be making a comeback, driven by growing buyer confidence, improved financing conditions and more-realistic seller pricing.  Despite the housing downturn, attractively priced homes in some of the nation’s most coveted neighborhoods, including San Francisco, are selling, sometimes fast and sometimes with multiple offers.  Nationwide, sales of homes selling for $2 million to $5 million in the first quarter was up 32 percent from a year before.

Read the Wall Street Journal Article