Weekly Special | September 6, 2021

Million-Dollar Homebuyers Are Busy

Would you be surprised to discover that it’s a buyers’ market for one segment of the Tallahassee real estate market? Well, it’s true, and it’s as hot as the rest of the overall market.

Million-dollar home sales have already set a new all-time annual high and we’re only two-thirds of the way through the year. The graph above plots all million dollar home sales over the past thirty years, and 2021 now reigns as the champion.

Context Is Shocking It’s one thing to set a record, but I find it amazing that there have been more than double the million-dollar homes sold in the past eight months than there were in all the 1990s decade! When this year concludes, it will surely be one for the record books.

I think part of the reason that we are seeing so many high-end homes selling is that mortgage interest rates are allowing more people to move up while keeping their payments manageable. But there’s more to it than that.

Most people with the means to buy a million-dollar home are preparing for the inevitable inflationary period that awaits us when the economy fully recovers from the downturn caused by COVID.

Investing in a home has proven to be an inflation beater in the past, and it likely will again in the future, especially as the population grows and homebuilders fail to keep up with demand.

Want to see all the listings and sales of million-dollar homes? Follow this link: Here’s What A Million Dollars Gets You In The Housing Market Today

This issue went with a longer report on our blog: read the full blog post. The original one-page Weekly Special PDF is still available.