Do Fox Valley luxury home buyers know something we don’t?
As we come to the end of 2014 it’s time to look at how the real estate market performed. This gives us a good indicator of where things are headed.
For this article, we decided to take a look at the change in home sales year-over-year by price point. While home sales in the Fox Valley were down overall by 4%, there are some price points that experienced a rise in sales.
Fox Valley luxury homes, those priced above $750,000, were the only price points showing a gain. This typically indicates that consumer confidence in the local market is back. Prices have stabilized and rates are still low. Home values are also expected to continue appreciating. Put all this together and it’s a recipe for a great investment.
Slowly but surely this will trickle down into the lower price ranges and we can expect a healthy growth in home sales for 2015.