Boom Time for Luxury Homes in Bay Area

It's a seller's market for mansions in the Bay Area.

By Chris Roberts
|  Friday, Jan 31, 2014  |  Updated 7:40 PM PDT
View Comments (
)
|
Email
|
Print
Boom Time for Luxury Homes in Bay Area

Matt Montagne

A fine home in Atherton. Sales of $1 million-plus homes soared in the Bay Area in 2013.

advertisement

Like most things in the Bay Area, a luxury home costs a little more -- $2 million and up.

But like most things in the Bay Area, those homes are selling -- and selling fast.

Some 2,604 homes in that price range moved in 2013, according to the San Jose Mercury News, a 28 percent jump from 2012.

That's the biggest movement in pricey homes since 1988, DataQuick reported.

And there were 23 home sales of $10 million or more.

For comparison's sake, let's look at how much $1 million -- no small amount of money -- will net you these days.

Drumroll, please....

"You're talking about a decent townhouse or a condo these days," said one real estate professional, who added that in some towns, like Los Altos and Cupertino, $1.5 million is "entry level."

Start saving.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Bay Area Proud
Bay Area Proud is NBC Bay... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out