Million Dollar Home Sales on the Decline

A research firm says sales of million-dollar homes in California fell for a fourth straight year in 2009 to its lowest level in seven years.
MDA DataQuick said Thursday that more than 18,600 homes sold for at least $1 million last year. That's down 24 percent from 2008 and down 66 percent from its peak in 2005.

The most expensive California home sold last year went for $26.5 million -- a 23,000-square-foot place in the Bel Air section of Los Angeles.

Hillsborough in the San Francisco Bay area posted 261 million-dollar sales, more than any other community. It was just ahead of Manhattan Beach and San Diego's La Jolla area

Copyright AP - Associated Press
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