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Million dollar home sales up 47% in California: record 48,666 sold in 2005

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Bush_Eats_Beef Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-26-06 04:39 AM
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Million dollar home sales up 47% in California: record 48,666 sold in 2005
Million dollar home sales up 47% in California

A record number of million dollar homes were sold in California in 2005, according to a report released Tuesday.

DataQuick Information Systems said this marked the fourth consecutive record year, with 48,666 homes selling for seven-figure prices -- up 47 percent from 2004. About 10 percent of the buyers paid cash, down 15 percent from 2004, DataQuick said. Seven Silicon Valley ZIP codes were in DataQuick's list of the 25 which had the highest number of million dollar sales last year. They were:

- Hillsborough (94010 ZIP), where 396 million dollar-plus homes sold, with a top price of $6.5 million.

- Saratoga (95070), where 372 sold, and prices topped out at $5.8 million.

- Cupertino (95014), where 347 sold, and prices topped out at $2.55 million.

- San Jose (95138), where 285 sold, and prices topped out at $4.26 million.

- San Jose (95120), where 278 sold, and prices topped out at $3.7 million.

- Fremont (94539), where 274 sold, and prices topped out at $2.75 million.

- Los Altos (94024), where 252 sold, and prices topped out at $4.5 million.




What a GREAT lookin' group of people...the "haves" and the "have mores." Some people call you "the elite"...I call you "my base"...



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shaniqua6392 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-26-06 05:52 AM
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1. And to think that my husband and I are killing ourselves
just trying to pay our $100,000 mortgage. Some of these people probably have that much money in their wallet. These people are part of the group of liars that keep telling us "The economy is growing stronger every day". I live in Michigan and I do not see improvements at all. I just see more "for sale" signs pop up every day. Also, nothing is selling in the way of previously owned homes, but the big houses in the suburbs are being constructed like crazy.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-26-06 05:56 AM
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2. Who on Earth is buying those homes?
They must be getting some pretty wacky financing.
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