Up to 2.5 million is a balanced market for buyers and sellers. 2.5-4.0 million has improved in “month’s supply” but still has over 1 year of supply.
4-5 million shows the biggest improvement with a balanced supply (probably based on new construction sales in this category. The one category unchanged with nearly two years of supply is the over 5 million price range. To date however, there have been 15 closed sales in PV over 5 million.