Day: May 3, 2020

Shortfall in New Supply of Homes for Sale Felt Most Acutely at the High End

The coronavirus has driven listings down across the board, but even at its lowest impact point—in the affordable market—there is still not enough supply of homes for sale to meet demand

Between mid-March and mid-April, the new supply of homes for sale over $1 million fell 29 points from the year prior, according to a new Redfin analysis of listing activity.

As of March 15, there were 66,528 homes for sale priced at or above $1 million across the 50 largest U.S. metro areas. Between March 15 and April 20, 10,338 more were listed for sale, but 10,708 were taken

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Four multimillion-dollar Melbourne apartments hit the market

3603/1 Almeida Cres, South Yarra is one of four lavish apartment listings worth more than $5 million to have hit the market recently.

An almost $8 million South Yarra apartment has joined three other pricey penthouses on Melbourne’s market that have hit Melbourne’s market in recent weeks.

Cashed-up buyers on the hunt for a luxury sky mansion are spoiled for choice, with the four lavish listings ranging from $5.3 million to $9.995 million.

And agents are reporting there’s still plenty of confidence in the city’s top end, despite general market uncertainty due to COVID-19.

RELATED: Port Melbourne beachfront apartment hits

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