Thread: San Diego's million-dollar home sales up in 2010

San Diego's million-dollar home sales up in 2010

It marks the first annual increase since in 5 years, data show

By Lily Leung
February 17, 2011 at 8:43 a.m.

Sales of million-dollar homes in San Diego County rose 15 percent in 2010, the first year-over-year increase since 2005, according to DataQuick Information Systems.

Last year, the county saw 1,814 sales in that price range, up from 1,578 in 2009, a possible sign the high-end market may be picking up, real estate experts say.

That upward motion is mirrored statewide, where 22,529 homes priced at $1 million or more sold in 2010, up 21 percent from 2009, when 18,621 sold.

In San Diego County, the priciest sale in 2010 was a 4-bedroom, 4.5-bath beachfront home in Coronado, at $10.5 million, according to county assessor’s records and agents. The home has a rooftop terrace overlooking the ocean and Hotel del Coronado, a theater room and saltwater spas.

Though sales of high-end homes rose last year in the county, they’re still 68 percent lower than the peak of 5,671 sold in 2005, DataQuick numbers show. The trough was 1,521 in 2002.

DataQuick analyst Andrew LePage said more activity in the million-dollar-plus market could be “another indication that the economy is improving.â€

Million-dollar sales by ZIP code in the county

ZIP code - Neighborhood - 2009 - 2010 - % Change - 2010 high sale

92037 La Jolla 259 252 –2.7% $10 million
92130 Del Mar 179 188 5.0% $5.2 million
92118 Coronado 105 149 41.9% $10.5 million
92024 Encinitas 102 113 10.8% $3.55 million
92067 Rancho Santa Fe 58 99 70.7% $9.58 million

DataQuick Information Systems

http://www.signonsandiego.com/news/2011 ... ales-2010/

I wouldn't be surprised if any of those homes were owned by Mexican drug cartel kingpins who I heard were taking up residence in San Diego......