One of the areas of the real estate market that typically takes longer to rebound is the luxury home market.  With the real estate market in it’s second full year of appreciation we can now say with certainty that the over 1 million price tag properties are selling with regularity.

In fact if you look at the quarterly chart below,  over the past 3 years we have seen a 91% increase in the number of homes selling from 3 years ago!  

One of the reasons that we have experienced a resurgence in demand for this type of housing is 25% or more increase values for the under 700,000 market. This new found equity allows has created a perfect move up sellers market. Additionally,  low interest rates continue to allow move up sellers a reasonable payment.  With rates continuing to hover around 4.5%, it appears that we can expect the 1 million plus home market to continue to see solid demand.