The Scales are Tipping…
It does appear that the high end is beginning to feel the effects of the higher interest rates. However, with 4 sold and 16 active over $3 million, we still only have a 4-month supply in that range. Experts say it takes a 6 month supply to tip the scales in favor of buyers. We are not there yet but headed in that direction.
The high-end segment of the market is in contrast to the under one million range where there are only 11 available in all of Washington Park and we are selling 13 in a month meaning the supply of inventory in that range is under 30 days. Sellers with their homes priced under $1 million are getting their homes sold quickly.
If you are wondering how your house might fare in today’s market or whether you can compete as a buyer, please don’t hesitate to be in touch. We would be happy to give you your odds of success in this market.
Your call to The Bridge Team at 303-331-4562 will be warmly received.
