Million Dollar Homes in California Feel the Cold

  • 14 years ago
  • Uncategorized

Silicon Valley Million Dollar Homes have seen a slow down in sales according to the latest figures from ColdwellBankerSouthBay. Located in the southern part of the San Francisco Bay Area in NorthernCaliforniaSilconValley is home to wealthy internet and technology multi millionaires. A total of 166 homes sold for more than $1 million in Santa ClaraCounty in November, down 13.5 percent from November 2009. It marked just the third month this year that year-over-year sales of million-dollar properties decreased.


The figures were derived from Multiple Listing Service data of all homes sold in Santa ClaraCounty for more than $1 million last month.

“For the most part, Silicon Valley’s luxury housing market has improved in 2010, but the recovery hasn’t always been even or smooth as the November closings prove,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “Nonetheless, the high-end market gained momentum this year as it worked its way back towards a healthier market. Hopefully that will cascade down to the rest of the market in 2011.”

Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:

* The most expensive sale in Santa Clara County in November was a five-bedroom, six-bath 5,162-square foot home in Monte Sereno that sold for $5,150,000;

* Palo Alto boasted the most million-dollar sales with 37, followed by Los Altos with 30, San Jose with 24, and Cupertino and Saratoga with 20;

* It took an average of 49 days to sell a million-dollar home in the county, down from 60 days a year ago but up from 48 days the previous month.

Selling a luxury home to an international audience is a speciality of overseas property website more here: Sell luxury home

Compare listings