Sales of Million Dollar Homes in the Carlsbad Area Surge in 2012
Recent 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.
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.
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
**************************************
ALL ABOUT THE SOUTHERN CALIFORNIA RELOCATION DUDE
If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
Serving Carlsbad (including Aviara, La Costa & Carlsbad Village), Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Carmel Valley, Escondido, and San Diego
Carlsbad Breaking News ~ Oceanside Breaking News ~ Encinitas Breaking News
All content ©Copyright by Jeff Dowler. All rights reserved.
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
Posted by 
;)
;)
;)
27 Comments on Sales of Million Dollar Homes Surge in 2012
Thanks for sharing.
That's great news, Jeff. And, I hope this trend continues as that is great news for everyone.
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.
Jeff that is terrific news. If the trend continues it will be a big boost for the real estate industry.
California seems to be on the leading edge for the rest for the country. . great post!
Since that is our speciality, we love to hear that,
Thank you for the good news!
Eve in Orlando
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?
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.
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
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.
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.
Great news and very nice post! I hope that translates into even more sales in 2013.
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!
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.
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.
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!
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.
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!
The thing is they are still bargains. Homes of this caliber have dropped a lot in price.