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Marin Luxury Home Sales, Prices up Again in September, Coldwell Banker Residential Brokerage Reports

Mill Valley, CA, October 19, 2012 --( Luxury home sales and the median sale price of high-end homes in Marin County continued climbing last month, according to a new report by Coldwell Banker Residential Brokerage, the Bay Area's leading provider of luxury real estate services.

The report was based on Multiple Listing Service data of all homes sold for more than $1 million last month in Marin County.

A total of 56 homes sold for more than $1 million in September, up 12 percent from the same month a year ago when 50 luxury properties changed hands. Sales were down from the August total of 75 transactions, although a seasonal downturn isn't unusual.

The median sale price of a luxury home closing in September jumped 3.8 percent from last year to stand at $1,557,500. The median price was up even more sharply from August, rising 11.3 percent.

Other market indicators were all positive as well. There were 14 multi-million-dollar sales last month, up from 10 the previous month and 11 a year ago. Homes also sold at a fast pace and sellers received a higher percentage of their asking price on average compared to August and last September.

“Luxury home sales in Marin County remain very strong as we go through the fall selling season," said Rick Turley, president of Coldwell Banker Residential Brokerage in the Bay Area. "We were encouraged by the number of transactions, as well as the solid improvement in sale prices in the luxury market."

Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:

* The most expensive sale in the Marin County last month was a six-bedroom, six-bath approximately 6,300-square-foot home in Sausalito that sold for $5,930,000;

* Tiburon boasted the most million-dollar sales with 15, followed by Mill Valley with eight, San Rafael with six, and Larkspur and Sausalito with four each;

* Homes sold in an average of 73.2 days, down from 122 days a year ago and 96 days the previous month;

* Sellers received an average of 99 percent of their asking price, up from 94.7 percent a year ago and 97.8 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 serves Marin County with six offices: 83 Beach Road in Belvedere; 350 Bon Air Ct., Suite 100, in Greenbrae; 500 Sir Francis Drake Blvd. in Greenbrae; 36 Tiburon Blvd. in Mill Valley; 1737 Grant Avenue, Novato; and 1 Harbor Drive, Suite 110, in Sausalito. For more information, please call 925-275-3085.

About Coldwell Banker Residential Brokerage

Coldwell Banker Residential Brokerage is the largest residential real estate brokerage in Northern California and serves the markets from Monterey to Tahoe and nearly every market in between. The company has 62 office locations and more than 3,600 sales associates throughout Northern California. Last year the company handled 13.5% of all dollar volume sold in Northern California, more than double its nearest competitor. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT has 725 offices and 42,100 sales associates operating in more than 35 major metropolitan areas. A subsidiary of Realogy Holdings Corp., NRT operates Realogy’s company-owned real estate brokerage offices. For more information please visit or call 925.275.3085. DRE #01908304.
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Coldwell Banker Residential Brokerage
Stephen Maita

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