Call (253) 999-2371 Paul Chunyk is a Realtor in Tacoma, WA. See our new homes for sale in Tacoma, Washington, and all of Pierce County. Search the Tacoma Real Estate Market - condos, mansions, luxury homes, and more

California Luxury Property Continues to Sell

Luxury homes and properties are hard to define. There is not a set standard that can be applied to all homes to determine whether or not they are luxurious. Most are found in the top five to ten percent of the most expensive homes on the market. In San Diego, the average luxurious home is purchased for about $1.93 million. They tend to have beautiful architecture, detailed designs, a convenient layout, and a gorgeous view. These luxurious homes and properties are hot on the market in California.

The California housing market has reached an odd place, as non-luxurious homes seem to be having a harder time being sold than luxurious homes. Just this summer, close to half of the homes sold in San Francisco were purchased for $1 million. And this is not just taking place in San Francisco, as all across California these $1 million homes continue to sell and are on a seven-year high.

What about the homes that cost more than $1 million? They are hot on the market as well! In California, homes that cost more than $2 million reached an all-time record this year. To top it off, the luxury homes that cost more than $2 million also reached a high. A record was broken with 265 homes sold for a price of more than $5 million this year.

Why are luxurious homes in demand? With the ability to not have to worry about credit or job security, people with money have a great environment to purchase a home. Most would think that these buyers are paying with cash, as already wealthy individuals, but this has not been the case. Interest rates are ideal, causing seventy percent of the homes that cost $1 million in California to be bought with a mortgage.

Buyers are taking advantage of the market and their financial situation to purchase the more expensive homes. Do not miss out on the ideal luxurious home buying environment!

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