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California Million Dollar Home Sales Rebound To 2007 Levels

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A sign stands in front of a home for sale in San Francisco (Justin Sullivan/Getty Images)

A sign stands in front of a home for sale in San Francisco (Justin Sullivan/Getty Images)

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SAN DIEGO (CBS SF) – The number of California homes selling for more than a million dollars rose to the highest level in more than five years, according to industry publication DataQuick.

A total of 26,993 houses sold above the million mark last year, up more than 25 percent from 2011. By comparison, more than 42,000 million dollar homes sold in 2007, according to the San Diego-based firm.

The all-time high was 54,773 homes sold for more than $1 in 2005.

A recovering economy and a record number of homes selling for cash also pushed the number of $5 million homes to an all–time high, according to the report.

Click here to read the full report and town by town numbers.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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