Apex Luxury Market Update: Why You Must Price with Strategy, Not Optimism
Watch the full breakdown in my latest video:
If you are a seller in Apex, you might be looking at the latest market stats and feeling confident. After all, median prices are up 3% to $880,000, and homes are selling in less than three weeks (19 days).
But there is one statistic that is causing confusion: Inventory is up 128%.
The “Percentage” Trap When we hear “128% increase,” it sounds massive. It sounds like buyers have endless choices and sellers are in trouble. But in real estate, percentages without context are dangerous.
- Last Year: We had 32 luxury homes on the market.
- This Year: We have 73.
While that is a big jump percentage-wise, 73 homes in the Apex luxury price point is not an oversupply. It is barely enough to satisfy the current demand, which is why we are still seeing a 1.6-month supply (a strong Seller’s Market).
The Warning for Sellers Because inventory has ticked up slightly, buyers have just enough choice to be picky. We are seeing a clear trend: Homes priced correctly sell immediately. But homes priced even 5% over market value are being interpreted as “overpriced” and are sitting.
The Bottom Line: You cannot price your home based on “optimism” hoping a buyer will overpay. You must price with strategy based on the data.
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