LUXURY HOME SALES SET RECORDSÂ
The number ofÂ homes sold for $1 million or more in Californiarose last year to its highest level since 2007, with exceptionally strong sales of higher-end homes.
Homes selling for more than $5 million totaled 697 in 2012, far surpassing the previous record high of 491 set in 2011, according to DataQuick, a real estate research firm. Those selling for $4 to $5 million also set a record, 460, up from 344 the year before.
In all, 26,993 homes sold for $1 million or more in 2012, up 27 percent from 2011 and the highest number since 42,502 sold in 2007. The all-time high was in 2005, when 54,773 homes sold for $1 million or more.
Virtually all home sales in some communities went for $1 million or more, includingÂ RossÂ inÂ Marin County,AthertonÂ andÂ HillsboroughÂ inÂ San Mateo County, andÂ Los AltosÂ inÂ Santa Clara County.
Source: Pacific Union International website: www.pacunion.com