Luxury home sales in the greater Sacramento area climbed more than 17 percent in the third quarter of 2015 from the same period a year ago as the region’s high-end market continued to roll along, 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 257 luxury home sales in the region in the three-month period from July through September, up 17.4 percent from the 219 transactions in the same quarter in 2014. Sales were off from the second quarter of 2015’s 278 transactions, although a seasonal decline from the second to third quarter isn’t unusual.
Meanwhile, the median sale price of a luxury property in the third quarter climbed to $890,000, up 3.5 percent from a year ago when it stood at $860,000. The median was off fractionally from the second quarter, when it stood at $900,000.
The upper end of the luxury market saw 78 homes selling for more than $1 million in the most recent quarter, up from 73 a year ago, and eight homes selling for more than $2 million, up from just two during the same period last year.
“The tri-county region’s luxury market continues to be in demand from well-qualified buyers,” said Kris Vogt, president of Coldwell Banker Residential Brokerage. “Inventory has been building a little, which is giving more opportunities for buyers who have been on the sidelines until now. With the market in a better balance between buyers and sellers we’re anticipating a good fall selling season.”
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 five-bedroom, seven-bath approximately 8,300-square-foot home in Loomis that sold for $2,625,000;
- Sacramento boasted the most luxury sales with 51; followed by El Dorado Hills with 48; Granite Bay with 35; Lincoln, Auburn and Loomis with 13; Roseville and Carmichael with 12, and Folsom with 10;
- Homes sold in an average of 75 days on the market, up from 64.5 days a year ago and 50.3 days the previous quarter;
- Sellers received an average of 97 percent of their asking price, the same as a year ago and down from 98 percent 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.