Million-Dollar Homes Selling in Santa Clara
While still down from last year, rise in sales may signal prices have hit bottom
Daryl Davis
Home sales in Santa Clara, at least in the luxury market, are picking back up.
The most expensive home sold in Santa Clara County in June was a 6,900-sq. ft. manse in Los Altos that went for $7 million, according to Coldwell Banker.
Overall, home sales priced over $1 million were up to 215 in June, from only 170 in May.
While still down 26 percent from the same month last year, the uptick has realtors thinking rock bottom has been reached.
Overall, Bay Area sales were the highest in almost three years, according to DataQuick, with median home prices rising throughout the latest quarter.
It's not all good news, however: While the foreclosure rate is falling, it's still high, and the number of default notices issued around the Bay Area notched a record.
So don't go jumping on a million-dollar bargain you can't afford, kay?
Photo by Daryl Davis.
Jackson West is looking to buy something in Fairfield -- seems a four-bedroom costs a mere $270,000.
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Posted Friday, Jul 24, 2009 - 2:16 PM PST
