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Alina Aeby's Blog

By Alina Aeby | Broker in San Francisco, CA

California Luxury Home Sales Set Records




LUXURY HOME SALES SET RECORDS 

The number of 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.

The most expensive sale was an 8,930-square-foot home in Woodside, in San Mateo County, that sold for $117,500,000 in November.

Virtually all home sales in some communities went for $1 million or more, including Ross in Marin County,Atherton and Hillsborough in San Mateo County, and Los Altos in Santa Clara County.

Source: Pacific Union International website: www.pacunion.com

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