Luxury Home Market | Year to Date Home Sales
Jeff | October 28th, 2009 - 9:53 pm| 2009 | 2008 | 09 to 08 Difference | 2007 | |
| Over $500,000 | 57 | 65 | -12.3% | 88 |
| Over $750,000 | 19 | 25 | -24% | 31 |
| Over $1,000,000 | 8 | 14 | -42.9% | 10 |
| Over $1,500,000 | 3 | 7 | -57.1% | 4 |
| Over $2,000,000 | 1 | 3 | -66.7% | 1 |
The luxury marketing in League City is moving but not as fast as it did last year and at a much slower pace than in 2007. Looking at the table above when you compare the number of luxury home sales over $1,000,000 in 2009 to 2008 they are down by 42%. As you can see the higher the sales price the larger the drop off in sales activity. This is a trend I am seeing in all price ranges. With the current recession homes that are selling and selling quickly are under $250,000 which is being driven by the $8,000 tax credit. Like in any recession prices are contracting because of decreased demand and an increase in foreclosures. To get a detailed report about the luxury home market contact me here.
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Jeff Bulman, PresidentBulman Real Estate
Direct 281.557.6161