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Mike Netzel's Blog

By Mike Netzel | Agent in 15090

Pittsburgh Pounding Luxury


Institute for Luxury Home Marketing National Luxury Snapshot  

 

ILHM Luxury Market Profile

 

ILHM National Luxury Composite Price $ 1,152,003

 

Total Inventory   26,270

  Asking Price per Square Foot $ 306

Percent of Properties with Price Decrease 32 %

Percent Flip (price increased) 3 %

The National Lux Home Temp? Cold! Buyer's Market 

Pittsburgh Pa. 5 County Luxury Market Profile – 1st 2 Qrtrs 2012

New Listings 1st 2 Qrtrs  $1,000,000 and up = 168  (2011 = 118) + 50!

Luxury Homes Sold  $1st 2 Qrtrs 1,000,000 and up = 490 (2011 = 487)

What does all this mean? Good Question!

Strong Sales with inventory increase means condition matters.

Good enough….candidly is not. The market is moving, but its not exactly hot.

Staging? YAWN! Expected. A "good buy"

How do you create an indisputable value propostion for your potential buyer?

How much will todays mortgage rates save you on the next purchase?

Short selling? You only have till Dec 31, 2012 until the IRS waiver waves bye!

Questions to : Mike@TMNT1.com

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