SACRAMENTO, Calif. – January 30, 2015 – The greater Sacramento area’s luxury housing market finished 2014 much the way it began as sales in the fourth quarter climbed 18.4 percent from a year ago, according to a new report by Coldwell Banker Residential Brokerage, the region’s leading luxury real estate services company.
The figures are based on Multiple Listing Service data of all homes sold for more than $750,000 in the past quarter in the tri-county region of Sacramento, El Dorado and Placer counties.
There were 161 luxury home sales in the region from October through December, up from 136 transactions in the fourth quarter of 2013. Sales were off from the third quarter’s 219 transactions, although a seasonal decline from the third to fourth quarter isn’t unusual.
Meanwhile, the median sale price of a luxury property in the fourth quarter was $869,500, down 5.5 percent from the median a year ago when it stood at $920,000 but up fractionally from the previous quarter, when the median was $860,000.
The upper end of the luxury market continued do well in the fourth quarter with 46 home sales over $1 million, down slightly from the 50 sales at that level a year ago, and four sales over $2 million, the same as a year ago.
“The luxury market in the Sacramento area turned in a very strong 2014 with a solid close in the fourth quarter,” said Kris Vogt, president of Coldwell Banker Residential Brokerage. “Our local economy continues to do well, homeowner equity continues to climb along with property values, and well qualified buyers are out there looking for the right home. Those are all great ingredients for the luxury market. We’re hoping that continues in the new year.”
Some key findings from the latest quarterly Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in the tri-county region last quarter was a four-bedroom, five-bath approximately 4,200-square-foot home in Homewood that sold for $3 million;
- Sacramento boasted the most luxury sales with 36, followed by Granite Bay with 27, El Dorado Hills with 20, Auburn with nine, and Roseville with eight;
- Homes sold in an average of 85.8 days on the market compared to 80 days a year ago and 64.5 days the previous quarter;
- Sellers received an average of 96 percent of their asking price, down from 97 percent a year ago and the previous quarter.
Coldwell Banker Residential Brokerage serves Sacramento, Placer and El Dorado counties with nearly 800 agents and 12 offices. 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.
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