Of particular note this month is the increase in pended sales in the $1,000,000 - $2,000,000 price segment. This is the first month this year that we have seen an increase over prior year in the over $1,000,000 category. Based on recent increases in showing activity, this could signal the beginning of a return to a more normal market for sales of luxury properties in this price range.

New listings and inventory levels continue to decrease over prior year, while pended and closed sales continue to post gains. Pended sales for the month of May are the highest for the month since May 2005.
marketreportMay2009.pdf