Million-dollar-plus home sales surge in second quarter
Million-dollar-or-more home sales statewide surged in the second quarter 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 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.
ALSO:
L.A. County’s biggest home sales for 2011
Expensive homes: L.A. sales get outrageous
Case-Shiller: Home prices improve strongly in May
Follow me @LATHotProperty
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
