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Million-Dollar Home Sales Hit Record in Bay Area


Source: San Jose Mercury News
bay area million dollar home
There was a time when a million-dollar home was something families drove by on a Sunday outing to get a glimpse of how rich folks lived. But now they’re more common than Starbucks, at least around here.

Fueled by the booming tech economy and seemingly insatiable demand for housing, the Bay Area set records in the second quarter of this year in the number of homes sold for $1 million or more as well as those costing at least $2 million, a real estate information service said Thursday.

In the nine-county region, 5,734 homes sold in the April-June period for at least $1 million, representing a staggering 24.5 percent of all sales of new and existing homes and condos, according to CoreLogic DataQuick. The previous peak was 5,699 in the second quarter of 2005.

The biggest number of such sales was in Santa Clara County, which had 1,791, its largest total ever. San Francisco also set a record with 857 $1 million-plus sales.

Read the full story at MercuryNews.com