2013 Rebound of Southern California Luxury Residential Market

Santa Barbara-based real estate agent Maureen McDermut offers experience and professional services to her clients. As a trusted partner of real estate buyers and sellers, she leverages local connections and knowledge to secure above-market deals while keeping the interests of her clients at the forefront. Maureen McDermut adheres to several core values, among them reliability, integrity, and tenacity. Potential clients can review her website at http://www.maureenmcdermut.com.

California’s luxury housing market consists of houses valued at $1 million or more. It achieved its highest sales level in six years in 2013, according to industry research firm DataQuick. The firm recently revealed that buyers purchased approximately 39,175 luxury homes in that year. In 2012, that number only reached 26,993. The last time California’s residential luxury market achieved these high numbers was in 2007 when buyers purchased 42,506 properties.

The DataQuick research revealed Southern California is the dominant region in the return of the state’s luxury housing market. Additionally, Los Angeles County broke previous sales records for ultra-luxury homes valued at $2 million or more in 2013.

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