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Luxury home sales in Marin County continued their summer rally last month with sales jumping 57 percent, according to a new report by Coldwell Banker Residential Brokerage, the Bay Area’s leading provider of luxury real estate services.

The figures are based on Multiple Listing Service data of all homes sold for more than $1 million last month in Marin County.

A total of 118 homes sold for more than $1 million in August, up from 75 in August 2012. On a monthly basis, luxury sales were down from July’s level of 130 transactions, although a seasonal decline from July to August is normal.

Meanwhile, the median sale price of a luxury home last month was $1,445,500, up 3.2 percent from the year-ago median price of $1.4 million but down slightly from July’s level of $1,485,000.

The upper end of the luxury market remained hot with 33 sales over $2 million, more than triple the number from a year ago. Two other key market indicators improved last month as well with homes selling faster on average, and sellers receiving a higher percentage of their asking price compared to August 2012.

“Marin County’s luxury housing market remains very solid in all price ranges as summer draws to a close,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “We’re gradually starting to see a few more listings coming on the market to meet the strong buyer demand, and we’re hopeful this will continue into the fall to help balance out the market.”

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

  • The most expensive sale in Marin County last month was a six-bedroom, six-bath approximately 7,700-square-foot home in Kentfield that sold for $10,775,000;
  • Mill Valley boasted the most million-dollar sales with 20, followed by San Rafael with 16, Tiburon with 13, and Novato with 12;
  • Homes sold in an average of 79 days compared to 96 days a year ago and 59 days the previous month;
  • Sellers received an average of 99.6 percent of their asking price, up from 97.8 percent a year ago but down from 101.7 percent 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, Coldwell Banker 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.