News

Million-dollar-or-more home sales statewide have surged to the highest level since the third quarter of 2007 as the economy and mortgage availability improved. The year-over-year increase was nearly double the gain for the overall California housing market, according to San Diego-based DataQuick. Higher prices pushed some luxury homes into the million-dollar-plus category, said DataQuick president John Walsh. The 7,763 homes sold at $1 million or more from April to June represented an 18.5% increase from the same period last year. It was the most sales in this price range for a quarter since 2007, when 10,946 closings were recorded. The highest quarter number of sales for $1-million or up houses since DataQuick began tracking such data was the third quarter of 2005, when 15,898 homes changed hands. Real estate sales prices have also ticked-up over the last few weeks in all price bands in the “close-in” areas of Los Angeles.

Share