Sales of Million Dollar Homes Surge in 2012

By
Real Estate Agent with Solutions Real Estate CalBRE 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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Show All Comments
Rainmaker
550,226
Gary Frimann
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
California Broker and REALTOR
Jeff, we are seeing an increase in the million dollar market here in Silicon Valley. It is nice to see pries moving back in all areas of Aifornia.
Jan 04, 2013 08:58 PM #8
Anonymous
Anonymous
Valley Village property for sale,

Thanks for sharing.

Jan 05, 2013 02:14 AM #9
Rainmaker
1,606,697
Debbie Gartner
Floor Coverings International Westchester NY & Stamford CT - White Plains, NY
The Flooring Girl - Westchester hardwood flooring

That's great news, Jeff.  And, I hope this trend continues as that is great news for everyone.

Jan 05, 2013 03:25 AM #11
Ambassador
952,902
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley.

That's great news Jeff.  There aren't many million dollar homes for sale here in the Fort Wayne area.  Maybe 3 or 4 at most.  

Jan 05, 2013 05:05 AM #12
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Jeff that is terrific news.  If the trend continues it will be a big boost for the real estate industry.

Jan 05, 2013 05:22 AM #13
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Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

California seems to be on the leading edge for the rest for the country. . great post!

Jan 05, 2013 05:29 AM #14
Rainmaker
256,311
Mike & Eve Alexander
Buyers Broker of Florida - Windermere, FL
Exclusively Representing ONLY Orlando Home Buyers

Since that is our speciality, we love to hear that,

Thank you for the good news!

 

Eve in Orlando

Jan 05, 2013 06:06 AM #15
Rainmaker
557,187
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Jeff, It will be interesting to see how those in the luxury segment respond to the new tax regimine. Will they stay of move to some place like Russia?

Jan 05, 2013 06:53 AM #16
Rainmaker
705,285
Sharon Parisi
Keller Williams Dallas Premier Realty - Dallas, TX
Dallas Homes

Jeff, I like the layout of your post, as well as the information presented.  It is easy to read and packed with details about your market.

Jan 05, 2013 07:09 AM #17
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Jeff Dowler CRS
Solutions Real Estate - Carlsbad, CA
Carlsbad CA Homes for Sale (760) 840-1360

Hella - same here. And we are seeing some significant price reductions as well as much lower sale price/list price ratios on high end homes...but they are selling. Still correcting.

Michelle  - bet you will find the same trend. I think we should all be reporting these statistics, whatever they might be

Michelle F - indeed. The landscape is definitely changing. BUt the key is being well priced, as always

Jeff

Jan 05, 2013 08:06 AM #18
Rainmaker
634,106
Stephanie/Bob The Ruiz/Miller Team
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Jeff, that is great news!  Most of the improvement in our market has been in the lowest price range.  It is nice to know that wealthy buyers are starting to move as well.

Jan 05, 2013 08:10 AM #19
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Bryan Robertson
Catarra Real Estate, Inc - Los Altos, CA
Broker, Author, Speaker

Congrats on the feature.  The market in California is really strong.  While other areas of the country are improving, our strong jobs picture and general wealth have really helped drive sales.

Jan 05, 2013 08:44 AM #20
Ambassador
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Erica Ramus
Erica Ramus - Ramus Realty Group - Pottsville, PA - Pottsville, PA
MRE, Schuylkill County PA Real Estate

Great news and very nice post! I hope that translates into even more sales in 2013.

Jan 05, 2013 01:11 PM #21
Rainer
54,776
Rob Renk
McKinney, TX
Gap Funding | from $10,000 up to $200,000

Good to see increases on sales at any price.  Where I am fromwe don't have a ton of homes in that price range.  Best of luck in 2013!

Jan 06, 2013 05:08 AM #22
Rainmaker
114,707
Sean Williams
AcklesWilliams of Semonin Realtors - Louisville, KY
Your Louisville Realtor

Here in Louisville, KY less than .50% of the sales have been properties over the $1M threshold...very interesting to see how other markets across the country are composed. Most sales are in the price range of $100k-$250k but of course the cost of living is much less.

Jan 07, 2013 05:48 AM #23
Rainmaker
651,810
Evelyn Kennedy
Gallagher & Lindsey, Alameda, California - Alameda, CA
Alameda, Real Estate, Alameda, CA

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.

Jan 07, 2013 04:11 PM #24
Rainmaker
404,880
Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

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!

Jan 07, 2013 05:40 PM #25
Rainer
195,813
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton

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.

Jan 08, 2013 03:01 PM #26
Rainer
177,637
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

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!

Jan 12, 2013 04:49 PM #27
Rainmaker
1,259,055
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

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

Jan 17, 2013 08:43 AM #28
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Jeff Dowler CRS

Carlsbad CA Homes for Sale (760) 840-1360
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