So why are we next level? Last Fall I was out shopping with clients and homes were going 25 to 50K over asking. One month ago I asked if we’d see $800K for the typical 3/2 1300 sq ft home in MM this year. Last week I mentioned we would need a string of sales at much higher prices to march upward.
Yesterday 2 houses closed for $825K and $840K! Both were about $100K over asking.
Less homes are hitting the market each week with more buyers climbing over each other just to get a chance to see them. There is no reason a decent 3/2 put on the market going forward should close much below $800K. The next notable milestone will be a typical 2 story 2000ish SQ FT home breaching $1M. We just need one to hit the market and should achieve that.
