2020: The Top End comes Roaring Back
One of the surprise of the last 2-3 years – to me at least – has been that there has not been more activity in the top end of the market, even as activity increased at lower levels. But that changed in 2020.
Let’s look at sales by price point:
The number of sales over $1 million increased 39% from 353 to 489:
The number of sales over $2 million increased to 60 compared with the prior high of 51
Sales over $3 million doubled from 10 in 2019 to 21 in 2021, passing the prior peak of 18 in 2007:
And there was a rebound in sales over $4 million to 12, also passing the prior 2007 peak of 11.
These charts support what one would normally expect in a rising market – an increase in top-end sales. It took a COVID-inspired exodus from cities to achieve it on this occasion.
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
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Sales Associate | Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
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