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A tale of two markets: Mega homes surge

Posted on 01 June 2012

The real-estate market is splitting in two, with wealthy buyers driving stronger growth at the top while the rest of the market continues to struggle. From $16 million log mansions in Aspen to $90 million glass-walled penthouses in Manhattan, high-end real estate is defying the broader real-estate slump and weak financial markets.
In local real-estate markets with a median home price of $1 million or more, prices are up more than 10 percent year over year, and inventory is down 10 percent, according to Altos Research, the real-estate analytics firms………………………………………..Full Article: Source


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