Is it kind of strange that not a SINGLE new listing has come up in Del Cerro above $700,000 lately. Absolutely nothing up on the hill has come up. The entire area’s inventory is just shrinking. I think this speaks volumes of the stability of that area. Most owners are long time residents, and just don’t seem to be in the market to sell.
There is however LOTS of activity all over the hill with remodels of various scale.
Is this a stand-off with buyers hoping for prices to come down, or will they soon realize that to live on the hill you have to pay asking? (except in MMM)
