While the January numbers don’t indicate that this year will be much different than last year, there does seem to be some uptick in the Million Dollar + home market.
For 2009, the number of homes sold $1 Million and above continued to decline vs. previous years as shown below.
But in January, we had ten $Million+ properties that sold in the month. I also looked at the properties that went Pending Sale in January and there are ten $Million+ properties too. Don’t know if all those properties will make it through the escrow process but at least there is activity. The Pending Sales were in the following cities:
Arroyo Grande (1)
Paso Robles (1)
Pismo Beach (3)
San Luis Obispo (3)
Also, as of today there were 235 $Million+ homes on the market. With the 10 Solds in January, that would mean that there currently is 23.5 months of inventory.