The median sale price in Boulder during 2013 was $629,000. By definition, half of the sold homes in Boulder fell below this level. $1MM+ sales represent only 15% of the market. $2MM+ sales are an even small slice of the pie, only 3%.
Why?
A lack of inventory at certain price ranges likely contributed to poor performance, particularly at the entry level. But what about the volume increase at the high end? The stock market probably had something to do with it.
Yachts are so 1980's |
If you were to analyze the relationship between high end sales and stock market performance, I suspect you'd see a strong correlation.
Additional Reading
Luxury Home Sales Boom
Stocks: 2013 is one for the record books
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