Here we go. We are beginning another new year with grand expectations for a continued strengthening of our real estate market. In looking at our Micro Report, you can see by your zip code how your area did this year compared to 2014 and also compared to what many considered to be the high water mark of 2007. It is clear that in virtually every community, we are well ahead of 2007 in price, but for me, the biggest surprise is the massive increase in the number of transactions. There has been a sharp increase.

Now, let’s look at the 20+M market in 2015. In Los Angeles, there were 34 sales at 20M or more, as well as 6 in that category in Malibu. Many of us wonder where these buyers, who plunked down for these big-ticket items, came from. Here are those numbers…

Los Angeles:

27 Americans – 79%

4 Chinese – 12%

2 from the UK or European countries – 6%

1 Russian – 3%

Malibu:

6 Americans – 100%

In adding Malibu to the Los Angeles numbers, Americans accounted for 82.5% of home sales at 20M or more.

Since these are statistics, I’ll let you draw your own conclusions as to not only the strength of our market but also where our market comes from.

Wishing a happy, healthy and prosperous new year to all.