Written by: Matthew Paul Brown
As a leader in the luxury real estate market, we like to keep a pulse on the local area.
Monthly we run a report showing the active, pending, sales over the last 60 days, and sales over the last 60 days the prior year. We too report on the average showings in the major metropolitan areas.
On August 20, 2015, we ran the latest report.
In Dilworth there was an increase in active listing inventory in August of 27 homes over 500k, to a slight drop in home closings from 8 in August over 500k, to 17 closings in May over 500k.
It really indicates what a hot summer season we had in real estate.
In Myers Park the active inventory has tapered off to 50 homes over 500k from over 61 homes over 500k in May 2015.
Closings in the Myers Park community remain strong with 27 closings over 500k in August, and 29 closings in May over 500k.
These closings are all based on a 60 day period.
Moving South into Ballantyne area, we found that the market actually has spiked in closings of homes over 500k.
In August there were 16 closings over 500k versus May there were only 6 closings over 500k.
Currently, there are only 36 active homes on the market over 500k.
In May 2015 there were 42 homes on the market over 500k.
Overall, we have experienced a big drop in showing activity across the entire region. However, we believe that the market will continue to perform in a positive direction with controlled growth.