Here are some charts and graphs to illustrate a couple of points.
Data for the following is from MLSPIN and for the middle of the local market (from $1.3m to $2.3m).
Data also goes back 3+ months and each data point is a sale, arranged from low to high
It seems like these median homes are selling in that $300 | $350 | $400 SF range on a pretty consistent basis. The ones that went way over asking were very fortunate.
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The taxes on homes in this price range are very reasonable. I can’t say that with a straight face. The assessments trail the market by a year or two, but the trend lines favor the $1m – $1.5m range. BTW those two low spikes on the tax line that go to zero were for new-builds with no tax data yet.
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I call this the “they’re how big?” charts and graphs. If you look at the red line that represents the house sizes on these listings you will see two things. First there are a lot of big houses in this town. And second, finished basements are typical if you look at the above grade line.
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