Wash Park Market Report May 2013

IT IS ALL GOOD NEWS!

In addition to the continuation of the low inventory, quick sale store, there is more good news. I have written previously about the recovery of the high end market that started about a year ago. This month there were five sales over one million and two of those were over two million. In fact, since 2008 we have had 9 sales over 2 million and 4 of those occurred in 2013. I would pronounce the high end recovered.

The only hint of a little bit of moderation in the market is the increase in days on the market. Sometimes this will be a precursor to some slowing of sales activity. Even if we get our traditional summer slow down as vacation plans supersede home buying plans, we can handle some slowness and still get good results for most sellers. The buyers will be much happier as now maybe they can get out of the motel and into a house.