California Million-Dollar-Home Sales Fall
Sales of California’s million-dollar homes fell 24 percent in 2009, the fourth-straight year that sales of the state’s priciest homes have declined, according to MDA DataQuick.

Last year, 18,261 California homes sold for at least $1 million, down from 24,436 in 2008. Million-dollar sales were down 66 percent from the peak of 54,773 in 2005, DataQuick says.

There’s still a market for some pricey properties. The most expensive California home, a 23,000-square-foot home, sold in 2009 for $265.5 million.

Source: Associated Press (02/04/2010)

Copyright National Association of REALTORS®. Reprinted with permission.