MILL VALLEY, Calif. – October 29, 2014 – Marin County’s luxury housing market remained hot in September with high-end sales surging 58 percent from the same period a year ago, according to a new report by Coldwell Banker Residential Brokerage, the leader in Marin County luxury real estate services.
The figures are based on Multiple Listing Service data of all homes sold for more than $1.5 million last month in Marin County.
There were a total of 57 luxury home sales in September, up from 36 sales in September 2013. Last month’s luxury sales were also higher than the 51 high-end transactions this August.
The median sale price of a luxury home also rose in September, climbing 11 percent from a year ago to reach $2.2 million. That was the same median price as the previous month.
As has been the trend lately, the upper end of the luxury market was particularly strong in September with 32 sales over $2 million, double the 16 sales a year ago. There were 14 sales over $3 million, more than triple the four sales at that level last year.
All other key market indicators were positive last month with homes selling at a faster rate on average than they did a year ago and sellers receiving a higher percentage of their asking price on average.
“Marin County’s luxury housing market remains extremely robust with continued strong demand from very well-qualified buyers,” said Mike James, president of Coldwell Banker Residential Brokerage. “Luxury buyers still see good value in real estate, and with the Bay Area economy continuing to grow, I’m optimistic that strong demand for luxury housing will grow as well.”
Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in Marin County last month was a seven-bedroom, eight-bath approximately 10,000-square-foot home in Kentfield that sold for $6,762,500;
- Mill Valley boasted the most luxury sales with 19, followed by Tiburon with 12, and Kentfield and Larkspur with four each;
- Homes sold in an average of 64.1 days on the market compared to 76.7 days a year ago and 80.9 days the previous month;
- Sellers received an average of 100 percent of their asking price, up from 99 percent a year ago and 98 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 10 branch offices throughout Marin County to serve homebuyers and sellers. 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.