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Some homes over $500,000 are starting to sell
January 15th, 2010 by reggiefairchild | 2 commentsSix months to a year ago, almost nothing over $500,000 was selling. Since the beginning of the year that seems to be changing — just slightly. We’re starting to see some houses go under contract for $700,000 or $800,000 in Charleston.
In many cases these are homes that would have sold for $1 million+ a few years ago. Buyers are getting deals and locking in low interest rates. If you’re thinking about buying, this Spring is a great time to be looking.
I’m seeing this as well. However, I’m also seeing bank owned homes that were priced at 850k in 2005 now popping on the market at 459k. These are blowing off the market in less than 3 days. I’m affriad the average seller looking for a fair price for their home will have a hard time selling with the bank owned homes on the market.
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