As the L.A. Times, the California Association of Realtors and other sources have been reporting over the last few days, sales of $1 million-plus homes went through the roof last year in the Golden State. In a nice surprise, Manhattan Beach recorded 439 million-dollar and up sales — the most in the California in 2013 — edging out Hillsborough in Northern California’s San Mateo County by 3 sales. And it is not just homes commanding top dollar as a lot in the South Sand section of Manhattan Beach recently sold for in excess of $9 million.
Across the state buyers purchased 39,175 homes costing $1 million or more compared to 26,993 in 2012, according to DataQuick, the leading compiler of real estate data and statistics. That’s the most since 42,506 in 2007 and is a whopping 45% increase over 2012. Also, a record number of buyers — 10,602 — purchased these homes, with Southern California dominating the luxury market once again.
Locals, flippers, athletes, investors and celebrities all played a big role in the boom this last year. This year could prove to have similar activity, as well, and hopefully inventory opens up as folks on the fence about selling realize the true value of their South Bay properties. And, unlike what happened with the San Francisco-area tech boom two decades ago that created instant, young, single millionaires and priced many people out of their communities, Manhattan Beach (and much of the South Bay) is still home to long time residents and families.
Across the state buyers purchased 39,175 homes costing $1 million or more compared to 26,993 in 2012, according to DataQuick, the leading compiler of real estate data and statistics. That’s the most since 42,506 in 2007 and is a whopping 45% increase over 2012. Also, a record number of buyers — 10,602 — purchased these homes, with Southern California dominating the luxury market once again.
Locals, flippers, athletes, investors and celebrities all played a big role in the boom this last year. This year could prove to have similar activity, as well, and hopefully inventory opens up as folks on the fence about selling realize the true value of their South Bay properties. And, unlike what happened with the San Francisco-area tech boom two decades ago that created instant, young, single millionaires and priced many people out of their communities, Manhattan Beach (and much of the South Bay) is still home to long time residents and families.
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