Marin County’s luxury housing market rebounded last month after a dip in September with sales and prices both climbing, 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 68 luxury sales in October, up 7.9 percent from the 63 sales in the same month last year. Last month’s total was also up from September’s 53 luxury transactions.
The upper end of the Marin luxury market continued to be strong last month with 43 sales over $2 million, up from 32 the previous month and 38 a year ago. There were 18 sales over $3 million, up from 15 in the previous month and in October 2014.
Meanwhile, the median sale price of a luxury home in Marin rose 7 percent last month from a year ago to reach $2,212,500, up from $2,067,500 last October and $2.15 million in September 2015.
“October was a very good month for the Marin County luxury market with both strong sales and good valuations,” said Mike James, president of Coldwell Banker Residential Brokerage. “Buyers continue to be out there ready to purchase the right home, and we’re finally starting to get a few more listings for them to choose from.”
Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in Marin County last month was a six-bedroom, seven-bath approximately 7,000-square-foot home in Ross that sold for $10.5 million;
- Mill Valley boasted the most luxury sales with 14, followed by San Rafael with 11, Tiburon with 10, and Sausalito with seven;
- Homes sold in an average of 53.5 days on the market, down from 60.6 days a year ago and 82.5 days the previous month;
- Sellers received an average of 101 percent of their asking price, the same as a year ago and down 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 10 branch offices throughout Marin County to serve homebuyers and sellers. For more information please call 925.771.5285.