High-end Real Estate Market sizzles

Wow- So much for south central properties. The number of houses selling for more than 5 mill reached an all time high last year. -even more than in the height of the real estate bubble. Houses selling for more than 1 million were as high as in 2007.

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Ca. home prices up again

More expensive homes and less foreclosures caused the median price to rise to 281k-up 2.6% from june and 11.5% from last year.

In so cal, prices hit 306k-up8% from last year. The best part is that regular buyers are coming back, not just real estate investors. Nice homes are getting multiple offers. The problem is getting qualified home buyers.

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