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A Tale of Two Markets

Posted by Shawn Spaw on Saturday, April 14th, 2018 at 12:13pm.

This might not seem possible, but it is. We are seeing inventory at all time lows on homes under $500,000.  In Valparaiso, Indiana, for example, we have around 350 homes for sale.  This number should be north of 1000 at this time.  Conversely, were a seeing luxury homes sell far below what it would cost to replace them.  The luxury inventory is growing and so far we don't have enough demand for it.  This will change.  As the move up buyers sell their homes in the $300s to $500s this Spring, we should see the higher end start to benefit.  New construction on the luxury homes is also hurting the market for pre existing luxury homes.  Many buyers want the newest in technology in their luxury home and some of the high end homes on the market have not kept up with market trends.

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