Sales of Million-Dollar Homes Set New Record
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Bloomberg News
Sales of million-dollar homes in California surged 58% to 4,167 in the second quarter as property values rose, according to a report by DataQuick Information Services.
The previous peak was the second quarter of 2000, when 3,293 million-dollar homes were sold in California.
About 20% of buyers paid cash. The median down payment for those who financed their purchases was $437,000. Among the houses that sold for more than $1 million were 385 new homes and 162 condominiums.
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