…Like the prior quarter, there were fewer highend
transactions, fallout from the year-end rush
to close before the expiration of the “fiscal cliff”
deadline for tax planning purposes. Although the
number of sales at or above $5M fell by 13.2%
to 33, the number of sales over $1M actually
expanded by 4% to 44.7% over the same
period reflecting a more active “trade-up” or
upper middle market than last year. As a result
of this skew, the overall average sales price fell
by 1.6% to $1,696,879, yet the median sales
price increased 8.2% to $920,000, the second
highest median sales price in 5 years, second
only to $937,500 reached in the second quarter
two years ago…