Industry News

Million-dollar home sales ease in California

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Sales of million-dollar homes in California eased back a notch during the third quarter, the result of a cyclical shift in market mix, real estate information service DataQuick reported today. A total of 8,985 homes sold for $1 million or more during the July-to-September period, down 11.4 percent from 10,145 for the second quarter, and up 53.4 percent from 5,266 for the same period a year ago. The second-quarter sales count was the highest ever. Last quarter was the second highest. Statewide, there were 41 sales for more than $5 million last quarter, 61 sales were in the $4-$5 million range, 191 in the $3 million range, 807 sales in the $2 million range, and the rest between $1 million and $2 million. The most expensive confirmed purchase was a Newport Coast house, which sold for $9.5 million in September. The largest was a 6-bedroom, 9-bathroom, 13,949-square-foot house in Westlake Village, which sold for $4.3 million in August. Ross in Marin County and Rancho Santa Fe in San D...