While many buyers are waiting to see when the market hits bottom, others who have been watching the local market here closely have been noticing that it looks like that may have already happened.
Even the Wall Street Journal has noticed this and commented on it recently:
“At long last, the market for luxury real estate is coming back to life. Prices for primary residences, which plunged at least 20% from the peak in 2007, appear to have bottomed. In some of the snappiest locations, scattered bidding wars are breaking out and prices are turning upward”….More at 10 Best Places for Second Homes
For buyers who want to get a nice home on the water or a luxury home in any other area this is news that shouldn’t be ignored. I noticed last year that luxury condos on Clearwater Beach were getting snatched up at a rapid pace and this year the ones that are being sold are going for a higher price than they were last year.
If this is what you’re looking for I’ve set up an MLS search specifically for Luxury Homes and Condos.