Here’s a recap of a February 2014 report in the San Jose Mercury News that examined trends in California luxury home sales in 2013. Seven communities within Silicon Valley were among the state’s leaders in sales of homes for $1 million and above. The statistics below, showing the community and the number of homes sold, were compiled by DataQuick of San Diego.
Menlo Park: 321
Los Altos: 267
Los Gatos: 243
One home in Los Altos topped the dollar amount for all homes sold in these communities at $14.3 million. Next was Hillsborough, with a $13.3 million sale, followed by Saratoga, where a home was sold for $12.3 million.
Here are some numbers covering the 2013 California luxury home market as a whole:
840 – homes sold at more than $5 million
596 – homes sold between $4 million and $5 million
$74.5 million – amount paid for the most expensive home in California, a 15,000-square-foot Malibu mansion
10,602 – homes in the $1 million-plus bracket purchased with cash
270,591 – Current number of California homes and condominiums assessed for at least $1 million