Marin County’s luxury housing market turned in another strong month in October with sales surging 47 percent from a year ago, according to a new report by Coldwell Banker Residential Brokerage, the leader in Marin County 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 106 homes sold for more than $1 million in October, up from 72 in October 2012. Sales last month were also up 41.3 percent from the September’s 75 transactions.
Meanwhile, the median sale price of a luxury home last month was $1,404,938, down 2.2 from a year ago, when it stood at $1,437,000. Last month’s median was up fractionally from September’s $1.4 million level.
The upper end of the luxury market was solid with 12 sales over $2 million, up from eight a year ago. Two other key market indicators were positive last month with sellers getting a higher percentage of their asking price on average and homes selling faster on average as well.
“Marin’s luxury housing market continues to march on with solid sales gains, including in the upper end of the market,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “Normally we start to see a bit of a seasonal slowdown around now, but we just didn’t see any letup in October.”
Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in Marin County last month was a four-bedroom, six-bath approximately 6,000-square-foot home in Kentfield that sold for $6.8 million;
- Mill Valley boasted the most million-dollar sales with 24, followed by San Rafael with 13, Tiburon with 12 and San Anselmo with 11;
- Homes sold in an average of 75.8 days compared to 88.5 days a year ago and 81 days the previous month;
- Sellers received an average of 101 percent of their asking price, up from 98 percent a year ago but off slightly from 102 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 has 14 branch offices throughout Marin County to serve homebuyers and sellers. For more information please call 925.771.5285.