Southern California Million-Dollar Market Update

October was a relatively busy month for the Million-Dollar Real Estate Market in Southern California.

Accroding to the SoCal MLS database, there were

591 sales in all of Southern California over $1,000,000, with the highest sale at $13,200,000 (listed at $17,900,000) in October.

The average sales price of Million-Dollar Plus properties $1,837,199 (Average asking price of those sales was $1,987,707). 

The average discount off of a Million-Dollar Plus home was 5% of current asking price and 12% of original asking price.

Average days on market was 127, with highest days on market 1,099!

Southern California is left with 7,171 Million-Dollar Plus active listings as of 10/31/2009.

So, what does all of this mean?  You will still find over a 12 month supply of Million-Dollar Plus homes available throughout Southern California.  The average Active Million-Dollar listing is just under $3,000,000 and has been for sale 145 days.

For a Market Snapshot of any home in Southern California, log onto www.MyKWRealtor.com

To get a free list of homes for sale, log onto www.LiveInSignalHill.com