April 23, 2009

New 2009 CA Home Sale Record

In this current housing market, which has yet to show a sign that it has bottomed out, seeing new heights reached for home sales is a sign that we can take consolation in. A new watermark has just been set for the highest price paid for a home in the state of California when a mansion in Beverly Hills sold for a fairly impressive $31.5 million.

The French Normandy-style home measures 27,000 square feet and sits one a two acre lot. It’s three stories and has ten bedrooms, thirteen bathrooms, and seven fireplaces. Designed by Richard Landry, it also features a grand ballroom, a library with a glass floor, and a large wine cellar.

While the price might seem impressive, it must be taken into account that the mansion was originally listed for $45 million and sat on the market for a lengthy 255 days. That sounds more like the market we’ve come to know.

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