Marin County luxury home sales rose 15 percent in June from the same month last year, but the median sale price in the county moved lower, according to a new report by Coldwell Banker Residential Brokerage.
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 92 luxury sales in June, up 15 percent from the 80 transactions in June 2015. Sales were also up nearly 11 percent month over month from May’s level of 83, although sales typically have a seasonal increase from May to June.
The upper end of the luxury market remained strong last month with 43 sales over $2 million, up from 41 a year ago, and 14 sales over $3 million, up from 13 sales at that level last June.
Meanwhile, the median sale price of a luxury home in Marin County in June dipped to $1,957,500, a 6.6 percent decline from a year ago when the median stood at $2,095,000. Last month’s median price was also down from May’s $2.3 million price.
“By any measure, Marin County’s luxury housing market – like the overall market – remains quite strong and healthy,” said Mike James, president of Coldwell Banker Residential Brokerage. “It is still a seller’s market in many communities, although recently the pendulum has started swinging back towards a more balanced market. And in the long run, that’s much healthier for the housing market and for buyers and sellers.”
Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in Marin County last month was a seven-bedroom, six-bath approximately 7,900-square-foot home in Ross that sold for $9,925,000;
- Mill Valley boasted the most luxury sales last month with 26, followed by San Rafael with 15 and Tiburon with 14;
- Homes sold in an average of 47 days on the market, up from 45.9 days a year ago and the same as the previous month;
- Sellers received an average of 99 percent of their asking price, down from 103 percent a year ago and 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.