How many million dollar and above home sales closed last year in the U.S?
According to the National Association of Realtors’ Research Division, there were 68,200 closed residential transactions at a million dollars or more. This represented just 1.6 % of all home sales in 2011, evidence that the luxury market at the million dollar and above level is a small segment of the market.
But, last year for the first time, the $500,000 and above market segment represented 10% of all home sales. Both the anecdotal and statistical information indicate that although the luxury niche is small, it is outperforming the market in general.
It’s a good time to target the upper-tier.
http://blog.luxuryhomemarketing.com/2012/03/million-dollar-housing-market-small-but-brisk-in-2011.html
But, last year for the first time, the $500,000 and above market segment represented 10% of all home sales. Both the anecdotal and statistical information indicate that although the luxury niche is small, it is outperforming the market in general.
It’s a good time to target the upper-tier.
http://blog.luxuryhomemarketing.com/2012/03/million-dollar-housing-market-small-but-brisk-in-2011.html
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