Marin County luxury home sales in January were even with the same month last year as the market continued to be challenged by low inventory, 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 23 luxury sales in January, exactly the same as January 2015. Last month’s total was down sharply from December’s 55 sales, although it’s not unusual to see a significant drop from December to January as more buyers try to close before year end.
Meanwhile, the median sale price of a luxury home in Marin County last month dipped to $1,875,000, down 1.8 percent from January 2015 when it stood at $1,910,000. Last month’s median sale price also was below December’s $2,025,000.
“Luxury home sales in Marin County remain fairly steady from a year ago, but a limited inventory of homes on the market may be having some impact on sales,” said Mike James, president of Coldwell Banker Residential Brokerage.
“It’s hard to get a good gauge on the market from the first month or two of the year since these sales generally began over the holidays when there isn’t as much activity,” he added. “We’ll have a better idea how 2016 will be as we get into the spring home-buying season.”
Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in Marin County last month was a five-bedroom, six-bath approximately 6,000-square-foot home in Sausalito that sold for $4.75 million;
- Mill Valley boasted the most luxury sales with seven, followed by Tiburon with four;
- Homes sold in an average of 85.7 days on the market, up from 69 days a year ago and 80.5 days the previous month;
- Sellers received an average of 97 percent of their asking price, down from 99 percent a year ago and 100 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.