Contracts vs. Active Listings - Homes Priced $500,000 - $999,999
In the first half of 2005, demand exceeded supply - but a transitioning market soon forced a very wide disparity between supply and demand. The gap has narrowed considerably even though contract activity has not returned to 2005 levels. (And it probably won't return to those levels, by the way).
In general the market for homes priced between $500,000 and $999,999 is pretty well balanced, with scales tilting more toward a buyers' market the higher up the price ladder one travels.
