“It hasn’t been a good six months for all people, but it was a good six months for rich people. When Wall Street goes up, rich people buy homes.”
– Redfin CEO Glenn Kelman, on the upturn in $1 million-plus sales nationwide. After four years of declines, sales of million-dollar single-families and condos rose in the nation’s 20 largest markets in 2010, according to a new report from DataQuick Information Systems.
I can’t access the report, but I can access Redfin’s past sales records. The data show a 33.5% boost in million-dollar sales, jumping from 480 single-family homes, condos, and townhomes sold in 2009 to 641 in 2010.
Redfin’s records for Chicago show 74 million-plus sales in January and February 2011, which is closer to 2009’s pace than 2010’s.