San Diego's Homes Golden Triangle – Del Mar, La Jolla and Rancho Santa Fe
Already sales of homes that sold for $2 million or more rose 13% in San Diego County from a year ago. While that increase sounds promising for a depressed market, real estate and financial insiders say steep price cuts and expected tax hikes helped drive sales. Another factor that helped was home shoppers seeking bargains. This seven-figure home market is about 47% off from its peak in 2005, which indicates the price range was crushed by the housing crash…. as many of us Realtors experienced.
The local million dollar home sub-market also is behind when compared with the overall housing market in San Diego County, where total sales are 24% higher than a year ago. A few months ago, potential buyers may have been able to afford the properties at the listing price levels – and even pay cash – but weren't willing to do so. The listing prices for the 10 most expensive homes sold last year were cut anywhere between 2.2% to 44%.
Buyers have been increasing in the luxury, high-end real estate market in Del Mar, Rancho Santa Fe and La Jolla this spring with many homes that have been sitting on the market already pending. One factor that sellers need to take into consideration in 2013 is the capital gains tax increase…. determine your cost in selling.
The ten most expensive homes that sold in San Diego ranged from $16,250,000 – $7,425,000 and in the neighborhoods of Del Mar, La Jolla, Rancho Santa Fe, and Carlsbad.