It was a banner second quarter of the year for luxury real estate in Orange County. First Team Christie’s International reported this week that it enjoyed a 41% increase in the number of homes sold for over $1 million in Orange County during the three-month period ending July 1.
There were 197 units sold by First Team Christie’s International for at least $1 million during the quarter, which represents the best performance in that category since the summer of 2013.
From Rick Brotherton, vice president of marketing for First Team Christie’s International:
“At the top end of the market, paying attention to every detail is critical to completing transactions. Experiencing a 41% increase in unit sales versus the previous quarter, and beating the other top three brokers by 17% in unit sales shows that First Team Christie’s attention to detail is paying off for the buyers and sellers we represent.”
Data mined by First Team Christie’s International also found the second quarter of 2014 was the best three-month period for luxury real estate in Orange County since 2011.
More from Brotherton:
“As with the Orange County real estate market as a whole, the luxury market is establishing a solid long term balance and growth pattern. Luxury buyers and sellers are always hungry for data that helps unlock value, and our market leading data analysis tools like Market Trends are key for them.”
All indications are home prices in Orange County have begun to stabilize after more than a year of rapid increases. Even with that, there is still a huge market for high-end luxury homes in Orange County as this report indicates.