http://www.zerohedge.com/article/inventory-glut-ultra-luxury-homes-hits-greenwich-over-4-years-supply
However, it is the ultra luxury space that is hurting the most:
The over $10MM is not good news with months of supply based on sales continuing to rise from where they were at year end 2010. With only 3 sales in the first four months, no sales in April and only 1 pending sale, months of supply are up over 6 years of supply. With 1 pending contract the calculations show this category at 72.9 months of supply, but given that we only have 50 listings in this category a few sales will significantly reduce these numbers.
However, it is the ultra luxury space that is hurting the most:
The over $10MM is not good news with months of supply based on sales continuing to rise from where they were at year end 2010. With only 3 sales in the first four months, no sales in April and only 1 pending sale, months of supply are up over 6 years of supply. With 1 pending contract the calculations show this category at 72.9 months of supply, but given that we only have 50 listings in this category a few sales will significantly reduce these numbers.
No comments:
Post a Comment