Sales of Million Dollar Homes Surge in 2012

By
Real Estate Agent with Solutions Real Estate CA BRE Lic #01490977

 Sales of Million Dollar Homes in the Carlsbad Area Surge in 2012

Carlsbad Million dollar homes for sale and Million Dollar Homes for Sale in CarlsbadRecent reports about the shifts in the housing market have also targeted the changing high-end market…homes sales over $1 million.

National Perspective

N.A.R. reports that year-over-year, from 2011 to 2012, million dollar+ home sales increased in all regions of the country (see the infographic below). A recent Wall Street Journal article also reported the burgeoning sales of million dollar homes.

Year over Year $1M Home Sale from NAR

While in some communities $1 million may be near the bottom of the range of home prices, in others there may be only a few homes selling at that price point.

Local Perspective

But that's a national overview - let's talk local!

In our local area of coastal North San Diego County, a number of communities saw increased sales of $1 million dollar homes from 2011 to 2012, with a healthy percentage of homes in some areas selling above that price point.

 

Community

# Sales

Total Sales

% $1 Million+

2012 Vs. 2011 Sales

Carlsbad

110

1233

9%

Up 17%

Encinitas

149

465

32%

Up 42%

Cardiff

25

68

37%

Down 24%

Rancho Santa Fe

220

236

93%

Up 23%

Del Mar

122

166

73%

Up 8%

La Jolla

259

352

73%

Up 26%

Solana Beach

44

96

46%

Up 22%

 

As a comparison, in San Diego County as a whole there were 1603 sales of detached single family homes selling for $1 million or more, 7% of 24,455 total sales in 2012. This was up 18% over 2011 sales of million dollar homes.

Carlsbad Million dollar homes for sale and Million Dollar Homes for Sale in Carlsbad

Not surprisingly the inventory of million dollar homes has shifted. In Carlsbad, for example, with 32 homes priced at over $1 million, at the current rate of sales of these homes we only have 2.8 months of inventory, similar to the overall inventory of single family detached homes in Carlsbad.

Are there similar trends in other areas? No doubt. We are seeing the same general trend in Northern California in the Los Altos area – read this post by Bryan Robertson about Silicon Valley million dollar homes sales for 2012 – Big numbers!

What's happening in your local market for million dollar homes?


Searching for a Million Dollar Home for Sale in Carlsbad?

Are you in the market for a Carlsbad home priced over $1 million? Start your search by clicking the link below.

Or explore the complete market of $1 million dollar homes in other communities including Del Mar, Solana Beach, La Jolla and Rancho Santa Fe.

 SEARCH FOR MILLION DOLLAR HOMES FOR SALE IN CARLSBAD

 

SEARCH FOR MILLION DOLLAR HOMES FOR SALE

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Topic:
Real Estate Market Trends
Location:
California San Diego County Carlsbad
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Rainmaker
634,747
Evelyn Kennedy
Alameda, Real Estate, Alameda, CA
Gallagher & Lindsey, Alameda, California

Jeff:

Nicely done post.  Informative and it looks good.  We have luxury homes in the million or 3 million range.  They are still taking some time to sell, but I think they will be next to see a flurry activity.

January 07, 2013 04:11 PM
Rainmaker
404,680
Ellen Caruso
Daniel Gale Sotheby's International Realty

Jeff, in my market this is true....we have many buyers in the 1MM range and for my area one would say that is a medium, because a fair amount of homes are worth 1.5 and higher. We are in one of the top wealthy zip codes 11545!

January 07, 2013 05:40 PM
Rainer
183,074
Dörte Engel
ABC - Annapolis, Bowie, Crofton
RE/MAX Leading Edge

Dear Jeff,

Selling one of those homes this year would be a pleasant change from 2012. I sold four homes under $40k, some of the lowest-priced homes ever in my career. Not a problem, but the trend you are reporting is encouraging for a better business mix in 2013.

January 08, 2013 03:01 PM
Rainer
158,457
Steve Higgins
RE/MAX Kelowna

Hi Jeff,

We also had a really good year last year for homes in the million dollar price range. More are sell and that is good news!

January 12, 2013 04:49 PM
Rainmaker
1,163,175
Gene Riemenschneider
Turning Houses into Homes
Home Point Real Estate

The thing is they are still bargains.  Homes of this caliber have dropped a lot in price.

January 17, 2013 08:43 AM
Anonymous
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Jeff Dowler CRS

Carlsbad CA Homes for Sale (760) 840-1360
What's my Carlsbad CA Area Home Worth??
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