Supply, demand and real estate sales

Today, in my little Park City neighborhood of Park Meadows there are 3 houses listed for sale under one million dollars and... 14 listed between 1 and 2 million dollars.

If you subscribe to the (logical) idea that there's a price pyramid in which the lower strata offer many more potential buyers than the top one, and then if you wonder why so many expensive homes don't sell, you quickly realize that our real estate market has a serious problem of inverted supply versus a normal demand!