Santa Monica Real Estate Report: More million dollar homes sold in California in 2012
California’s high-end real estate market reclaimed some of its luster last year, according to a report released Wednesday by DataQuick.Sales of homes costing $1 million or more hit their highest level since 2007 and a record number of buyers paid all-cash, the market tracker said.Last year sales of California homes costing $1 million or more jumped 26.9 percent to 26,993 properties from 21,267 in 2011.Last year’s total was the highest since 42,502 luxury homes sold in 2007. This market segment peaked in 2005 when 54,773 big-bucks homes sold.
DataQuick’s report showed that:
• The highest price paid last year was $117.5 million for an 8,930-square-foot, four-bedroom, 4 1/2-bathroom home in Woodside on 9 acres in Northern California. Web reports speculate that SoftBank’s billionaire founder, Masayoshi Son, might be the buyer.
• For buyers who financed, the median down payment was 25.9 percent of the purchase price. The most willing lenders to finance seven figure and up purchases were Wells Fargo, Union Bank and First Republic Bank.
• The median-size $1 million-plus got the buyer a 2,641-square-foot house with four bedrooms and three bathrooms.