The graph above is not based on any actual data -- it's based on my experience of our local market, and conversations with a variety of buyers over the past few years.

It seems that most of what has been built as new housing stock in this area over the past 15 years has either been townhouses -- or high end homes.  This has left quite a gap in the middle of the market, where there is a LOT of buyer demand, but where there is NOT a lot of new housing stock to help meet this demand.

How and when will this change? 

What will these buyers buy if they can't buy a home in that middle of the market price range?