We have started to see the cost of a 3BR home in the Tree Section rise along with the rest of the market.
As land values creep into the $1.3-$1.7M range (or higher!), depending on lot size and location, you can really put a pretty penny into buying an actual, habitable house on one of those plots.
Here we take a look at the distribution of sales prices for 3BR homes in the Tree Section, and how the mix of prices paid has shifted far to the upper end. Our first chart compares just 2 years, 2010 (full year) and 2014 (year to date).
So here you see that in 2010, a 3BR house in the Trees was pretty likely to trade under $1.2M. Fully two-thirds of the sales that year were in those 2 lowest tiers.
Fast forward to the current moment, and in almost 7 months……