Luxury home sales in the East Bay closed out 2015 on a high note with sales climbing 32 percent in December from a year ago, 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 during December for more than $1 million in Alameda and Contra Costa counties.
A total of 322 luxury homes changed hands in December in the East Bay, up from 244 high-end sales in December 2014. Luxury home sales in December were also up from the 292 transactions in November.
Meanwhile, the median sale price of a luxury home in December edged up 1 percent from a year ago to reach $1,275,500. The median was also up nearly 2 percent from November, when it was $1,251,500.
“The East Bay’s luxury housing market finished up 2015 on a roll with outstanding sales numbers across the board,” said Mike James, president of Coldwell Banker Residential Brokerage. “We’re starting to see signs that more listings may be coming on the market in the next few months, and that would be great news for buyers who are competing for the limited number of homes for sale.”
Some key findings from Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in the East Bay in December was 10-bedroom, seven-bath approximately 7,000 square foot home in Pleasanton that sold for $4.8 million;
- Oakland boasted the most luxury sales with 51, followed by Fremont with 39, Danville with 33, Berkeley with 32, Walnut Creek with 26 and Lafayette with 20;
- Homes sold in an average of 34.7 days on the market, up from 31.1 days a year ago and 33.1 days the previous month;
- Sellers received an average of 105 percent of their asking price, up from 104 percent a year ago but down from 107 percent 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.