DALLAS MILLION BUCK HOME SALES IN A SLUMP
Many areas of the Metroplex seem to be holding fairly steady in home sales, according to Bill Cherry, principal broker of Bill Cherry, Realtors.
However, Cherry says that's not true for luxury home sellers as many potential buyers seem to be taking a wait and see attitude. That's leaving behind a two year supply.
Bill Cherry says that since December 1, 2008 only 37 homes have sold for more than a million bucks. That leaves 626 listed and looking for buyers. The most pricey one needs a home buyer with $17 million to spare.
And then there's the noted Dallas builder who took the chance and apparently built one spec home too many. It's been on the market for quite a while at more than $11 million with no takers.
Bill Cherry has been selling luxury homes for 44 years. He says if that's what you're looking for in Dallas, now's the time to negotiate a bargain.
FOR MORE INFORMATION:
Bill Cherry Realtors
214 503-8563
BILL CHERRY, REALTORS
DALLAS - HIGHLAND PARK
Our 44th Year Selling America!
214 503-8563
800 314-7110
Copyright 2009-William S. Cherry
Bummer! Hope it picks up soon.
Bill the saying goes "what goes down or stays steady will go back up" so let's hope for the "will go back up" for Million Dollar House Sales.
I don't think Dallas is the only area of the country stuggling with the sales of million dollar homes.
Hi Bill... Yikes... at that rate there is almost 34 months of inventory in the Million Plus range! What an opportunity. Let's get selling! :)