The 2012 California real estate market really saw a healthy recovery after so many deflating years. According to DataQuick, “The number of homes that sold for $5 million or more in California in 2012 set a record. 697 homes sold for more than $5 million; the previous record was 491 in 2011. Other high-end sales totals broke records as well, with the state setting records for homes sold in the $4 million-to-$5 million range (460) and the $3 million-to-$4 million range (1,104).”
In all of 2012, 26,996 homes sold priced $1 million and higher, which was the highest in that range since 2007. The increase of homes sold was attributed to higher returns on investments and safe-haven investing. Homes priced in the lower ranges could attribute their higher selling numbers to more job security, down payment sizes and low mortgage rates.
According to the National Association of Realtors® and other economists, home sales are predicted to increase another 9% this year. However, there still may be the issue of fewer homes on the market, which could be one issue which will slow the number of home sales.
It really is a good time to put your home on the market in the Desert, but it’s getting closer to the end of season. Call me today at 760-567-7282 and we can get your home listed now – there are lots of buyers still coming from the colder regions into our warm and beautiful Desert area.