So when we look back at 2009 we could definitely be looking at the bottom of this real estate cycle. I am not ready to call it yet but there is some strong evidence that we have hit it.
In general we have seen a large pick up in activity in the last 60 days and there are no signs of it slowing down. I want to be clear that I am not saying prices are going to go flying back up. on the other hand there does seem to be a floor that we have hit and prices are down (from the peak) but they do not seem to be continuing to drop. Not everything is flying off the shelf but the homes that are priced well sell quickly!

Here are some stats:
2009: 5 sales between 2,000,000-3,000,000
1825 Poinsettia,MB $2,000,000
1901 Walnut Ave., MB $2,150,000 (new)
700 35th St., MB $2,250,000
2401 John St., MB $2,275,000 (new)
1801 John St., MB $2,550,000
*2200 Palm Dr., MB $1,975,000

2010 thru March 10th
SOLD:
562 33rd St. $2,000,000
3113 Laurel Ave. $2,025,000
2100 Pine Ave., MB $2,100,000 (new)
1811 Agnes Ave., MB $2,150,000
PENDING:
2603 Palm Dr. MB, listed for 3,000,000 in escrow for under full price.
1900 Walnut Ave., MB Listed for 2,025,000 in escrow for close to full price, sold in one day!

If those two “pending sales” close we will have already pasted the number of $2,000,000+ sales for last year, in March!
There is also an off market sale that will record over $2,000,000 soon that I will share once its official.