Source: Los Angeles Daily News
Sales of homes costing $1 million or more soared 45 percent, which is reportedly their highest level in six years for the luxury housing market. While there were 10,602 buyers in 2013 for these luxury properties, it was Southern California in particular that dominated the luxury market.
"Malibu notched the most expensive sale last year — $74.5 million for a 15,355-square-foot, eight-bedroom, 14-bathroom beachfront estate built in 1993, DataQuick said."