While some say that the real estate "bubble" has burst and the number of foreclosures in Santa Cruz County continue to be relatively high, multi-million dollar homes continue to sell. The median sales price for April was $774,375--that's just 2% off of the record $789,250 from November of 2005 according to Jondi Gumz of the Santa Cruz Sentinel.
Six different residential properties sold for more than $2 million in April, demonstrating that "the money is out there" (Margaret Julien of David Lyng Real Estate) and people are still very willing to pay.
Bernadine Brumfield, a Santa Cruz real estate agent, believes that these high-end homes that have been appreciating for many years will continue to sell easily as baby boomers move into retirement.
To read the article in its entirety and to see which homes sold for more than $2 million, go to Buyers Snap Up $2 Million Homes
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