There are presently 50 homes for sale in Plymouth, MN that are listed at $700,000 or higher.

During each of the past two years, 8 homes were sold over $700,000 during the first four months of the year (Jan. 1st through April 30th- 2007 Sales and 2008 Sales for this period). So, for the past two years, the market has been absorbing about 2 of these homes in this category per month. With 50 homes for sale, that means the months supply is 25 for homes priced over $700,000.
The other factor here is that Lennar is now a player in this market segment more so than they have been in the past. During the first four months of 2007, only one Lennar home showed up in the sales with their Taryn Hills development near Vicksburg and County Road 47/Hackamore. During the same period in 2008, two showed up. They WILL have a bigger impact on share of homes sold in this segment for the next couple of years and that means there will be an even bigger impact on individual homeowners who are trying to sell their $700,000+ home in Plymouth – competition is very, very steep.