Luxury Home Sales On Rise

“Big Spenders Buoy Housing,” says the Wall Street Journal in a new video and news report on the Bay Area luxury housing market for 2010.

They report that “buyers from from tech companies like Google Inc., LinkedIn Corp. and Hewlett-Packard Co.” have increased demand in the market of homes priced $2 million and above, with the highest volume for high-end properties occurring first in Atherton (20 transactions in 2010 above $5 million), followed by San Francisco (8 transactions in 2010 above $5 million.)

2600 pacific
2600 Pacific Avenue

According to the WSJ, “The priciest Bay Area home transaction recorded in the public records in 2010 was for a two-story home in San Francisco’s Pacific Heights neighborhood. In December, the home, which public record puts at nearly 7,400 square feet, was sold for $15.5 million to Hos Pacific LLC..”

The home at 2600 Pacific is said to be owned by a prominent newlywed couple.