Number of Milllion Dollar Homes Sold Skyrockets

The number of million dollar or more homes sold in the US has skyrocketed in the past 5 years due in large part to the housing bubble.

Real estate markets may be cooling around the country, but they were hot enough last year to send million-dollar home sales through the roof. The number of homes sold for $1 million or more quadrupled between 2000 and 2005, according to DataQuick Information Systems, to 109,113. (Of 8 million sales overall last year, the median sales price was about $213,000.).

California accounted for 48,666 of the 109,113 million dollar plus homes sold last year. That represents almost 45%. Yikes!