Much like in the economy, there are two distinct groups in the valley having very different home selling experiences. The winner? The luxury market \u2013 which has been performing beyond what most could envision. The Cromford Report shares this: \u201cThe largest improvement is in the luxury market where sales over $1M are up 10% and at a record high. Most impressively, sales over $5M are up 31% over last year and there have been 36 sales over $10M so far, already exceeding last year\u2019s annual record of 32 before the year is halfway through.\u201d Of course, as we have mentioned in prior articles, the health of the luxury market depends largely on the stock market. As the stock market has performed well for the last 3 years, not shockingly the luxury housing market has performed in synchrony.<\/p>\n\n\n\n
Conversely, the sub-luxury market is not having the same experience. In the lower price ranges buyers are still largely in the driving seat. While neither supply nor demand are wildly shifting, demand is showing a slow erosion due to rising interest rates. As the Cromford Report shares: \u201cWeakness in the bond market has led to mortgage rates rising and we are now seeing 6.75% as the typical 30-year fixed rate\u2026.It is the bond market that powers mortgage rates and hence has a strong influence on affordability and therefore demand for the rest of the housing market\u2026.Having briefly fallen below 6% just before the start of the war in Iran, rates are now back to levels not seen since July 2025.\u201d Typically, demand in the lower end responds to rates below 6.50%. In the meantime, the basics on getting our home sold apply to these sellers: good home condition, seller incentives (i.e. assistance with buyer closing costs), marketing and correct pricing. And of course, a good Realtor. <\/p>\n\n\n\n
Russell & Wendy Shaw<\/p>\n\n\n\n
(Mostly Wendy)<\/p>\n","protected":false},"excerpt":{"rendered":"
Much like in the economy, there are two distinct groups in the valley having very different home selling experiences. The winner? The luxury market \u2013 which has been performing beyond what most could envision. The Cromford Report shares this: \u201cThe largest improvement is in the luxury market where sales over $1M are up 10% and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1510","post","type-post","status-publish","format-standard","hentry","category-real-estate-market"],"_links":{"self":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1510"}],"version-history":[{"count":1,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1510\/revisions"}],"predecessor-version":[{"id":1512,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1510\/revisions\/1512"}],"wp:attachment":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}