Market edges higher from August, flat from last year

Million-dollar home sales and the median sale price Marin County edged higher in September from the previous month, but sales were flat from a year ago, according to Coldwell Banker Residential Brokerage, the Bay Area’s leading provider of luxury real estate services.

A total of 49 homes sold for more than $1 million in Marin County in September, up from 44 properties in August. The median sale price was also up 1 percent to $1.395 million from the previous month. Compared to a year ago, sales remained flat at 49 units while the median price was up 1.2 percent.

Other measurements offered encouragement for a gradually improving market. Sellers received 97 percent of their asking price on average last month, up from 91.7 percent a year ago. And the upper end of the luxury market saw increased sales with 13 homes selling for more than $2 million, up from nine homes the previous month.

The figures were derived from Multiple Listing Service data of all homes sold in Marin County for more than $1 million last month.

“Marin’s luxury housing market continues to show signs of stabilization and gradual improvement,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “The recovery has been coming in fits and starts – much like the economy itself. Not every month has seen equal gains, but in general we appear to be moving in the right direction – especially in the top end of the luxury market.”

Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:

  • The most expensive sale in Marin County in September was an five-bedroom, six-bath 5,700-square foot home in Mill Valley that sold for $5.5 million;
  • Mill Valley boasted the most million-dollar sales with nine, followed by Tiburon with eight, Kentfield with six, San Anselmo with five and Novato with four;
  • It took an average of 109 days to sell a million-dollar home in the county, the same as a year ago but up from 101 days the previous month.

The Marin County Luxury Home Report is a monthly report by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Coldwell Banker Previews® program, the company is recognized around the world for its expertise in the luxury housing market.

Coldwell Banker Residential Brokerage serves Marin County with six offices: 83 Beach Road in Belvedere; 350 Bon Air Ct., Suite 100, in Greenbrae; 500 Sir Francis Drake Blvd. in Greenbrae; 36 Tiburon Blvd. in Mill Valley; 1737 Grant Avenue, Novato; and 1 Harbor Drive, Suite 110, in Sausalito. For more information, please call 925-275-3085.