Dive Brief:
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If you want to sell the homes you build, try raising the price—by millions.
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Realtor.com reported last week that luxury homes priced at more than $30 million are on the market for an average of just 139 days. That compares with 180 days for homes priced between $1 million and $30 million.
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Homes listed for less than $1 million sit on the market for an average of 80 days, while the national median age of listings for all homes is 82 days—down from 85 days a year ago.
Dive Insight:
Sellers of ultra-high-end homes often enjoy quick sales because they spend time marketing them before listing them, so they have buyers lined up by the time the for-sale sign goes up. Also, buyers in that price range tend to be ready to invest.