Months of remaining inventory are increasing for luxury homes due to inventory increasing faster than the number of sales, especially for properties priced at $2 million and higher, according to Coldwell Banker Pacific Properties. Based on the current rate of sales, it will take more than a year to sell active listings in the $2.5 million-$4 million range; it will take more than two years to sell homes in the $4 million-$6 million range; and listings in the $6 million-plus range will take more than…

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Topics:  coldwell banker pacific   properties   based   inventory   homes   priced   million   range   listings   increasing   sell   sales   
BING NEWS:
  • Low inventory creates challenging conditions in North Carolina’s housing market
    In addition to a lack of existing-home inventory, North Carolina is also struggling to grow its supply of new single-family homes. “We have so much new construction happening. Everywhere you look ...
    05/3/2024 - 5:36 am | View Link
  • The Texas-sized problem with housing inventory figures
    National listings growth isn't necessarily a boon to all housing professionals: after all, the growth is highly concentrated in Texas and Florida.
    05/1/2024 - 12:00 am | View Link
  • Home Sellers in Florida and Texas Are Slashing Prices Amid Excess Inventory
    According to a new report from Redin, sellers are slashing asking prices to attract would-be buyers and get extra housing inventory off the market.
    04/29/2024 - 10:01 am | View Link
  • Florida real estate sellers slashing home prices as inventory surges to uncomfortable levels
    Real estate inventory in parts of Florida is surging to uncomfortable levels — and sellers are beginning to slash prices, according to a report.
    04/26/2024 - 7:08 am | View Link
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