Million Dollar Home Sales on the Rise in California

According to DataQuick and as reported in the September issue of Dream Home Magazine, California's million dollar home market is looking up...way up! In fact, the numbers for the 2nd quarter of 2012 (April - June) showed that sales of high end properties in California were at their highest level in five years.

In fact, home sales for properties over $1 million outpaced overall home sales by a healthy margin. Overall home sales also saw an increase in year over year for the second quarter, up a little more than 10% from last year at this time. But for the same period, luxury homes saw an increase of 18.5% as well as an increase of near 80 from the first quarter of 2012.

In the California luxury real estate market, 7,763 homes were sold from April to June of 2012. Of these high end sales ($1 million and above), more than 1,500 homes were in excess of $2 million. And for many markets in the Golden State, including many communities around the Monterey Peninsula, that is good news.