CONCORD, Calif. – October 29, 2014 – Luxury home sales in the East Bay jumped more than 30 percent last month from year ago levels while the median sale price dipped slightly, 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 Alameda and Contra Costa counties.
A total of 264 luxury homes changed hands in September, up 30.6 percent from the 202 transactions in September 2013. Million-dollar sales were off from August’s 360 transactions, but a seasonal decline from August to September is normal.
As has been the trend, the upper end of the luxury market was strong again last month with 18 sales over $2 million, up from 14 sales at that level a year ago.
Meanwhile, the median sale price of a luxury home in September dipped 1.7 percent from a year ago to $1,261,000. It was also down from August’s median sale price of $1,309,000.
“The East Bay’s luxury housing market remains robust with continued strong demand from well-qualified buyers,” said Mike James, president of Coldwell Banker Residential Brokerage. “Luxury buyers still see good value in real estate in the East Bay, especially when compared to higher priced markets such as San Francisco and Silicon Valley.”
Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in the East Bay last month was a six-bedroom, six-bath approximately 8,000-square-foot home in Piedmont that sold for $5.25 million;
- Danville boasted the most luxury sales with 38, followed by Fremont with 35, Oakland with 25, Pleasanton with 24, and Alamo, Berkeley, Walnut Creek and Orinda with 15 each;
- Homes sold in an average of 29.2 days on the market, up from 28.2 days a year ago and 26.9 days the previous month;
- Sellers received an average of 104 percent of their asking price, up from 103 percent a year ago and the same as the previous month.
The East Bay Luxury Housing Market 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 nine East Bay offices serving Berkeley, Castro Valley, Danville, Fremont, Oakland, Piedmont, Orinda, Pleasanton, and Walnut Creek. For more information, please call 925.771.5285.
About Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage is the largest residential real estate brokerage in Northern California and serves the markets from Monterey to Tahoe and nearly every market in between. The company has 57 office locations and more than 3,900 affiliated sales associates throughout Northern California. Last year the company handled 13.5% of all dollar volume sold in Northern California, more than double its nearest competitor. Through its internationally renowned Coldwell Banker Previews® program, Coldwell Banker leads the luxury home market in Northern California, representing more than 22% of all dollar volume sold of properties over $1 million. A subsidiary of Realogy Holdings Corp. (NYSE: RLGY), NRT operates Realogy’s company-owned real estate brokerage offices. For more information please visit www.CaliforniaMoves.com or call 925.771.5285. CalBRE #01908304.