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DQNews Archived Article


California Million-Dollar Home Sales Down

July 3, 2001


Sales of million-dollar homes dropped during the first five months of this year in California, the result of buyer reticence in high-end markets. The decline reverses a five-year increase in sales of prestige homes.

A total of 3,668 California homes were sold for a million dollars or more during the January to May period. That was down 16.3 percent from 4,384 for the same period last year. The decline was steepest in the nine-county Bay Area, down 20.7 percent from 2,044 to 1,621. Santa Clara County alone saw a 38.4 percent decline from 829 to 511. In Southern California sales declined 10.3 percent from 2,029 to 1,821.

"This market took off early when California emerged from the recession. It's unique, though, and the question is whether this is a permanent change in trends, or a temporary lull. We won't really be able to call it until this fall," said Mike Ela, DataQuick president.

Media Inquiries: John Karevoll (909)867-9534


Copyright © 2001 DataQuick Information Systems.
All rights reserved.

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  • 2001 Releases

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    Southland Home Sales Dip, Prices Up
    May 21, 2001
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    June 25, 2001
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    Southland Home Sales High, Prices Up in June
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    July 25, 2001
    California Foreclosures Down
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    Southland Home Sales High, Prices Up in July
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    Bay Area Home Sales Down, Prices Leveling Off in July
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    Southland Home Sales High, Prices Up in August
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    Bay Area Home Sales Down, Prices Leveling Off in August
    September 25, 2001
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