North Lake Tahoe Luxury Home Sales and Prices Dip in Fourth Quarter, New Report Shows

Luxury home sales and the median sale price in the North Lake Tahoe and Truckee area eased in the fourth quarter as 2011 came to a close, according to Coldwell Banker Residential Brokerage, Northern California’s leading luxury real estate services company. 

A total of 28 homes sold for more than $1 million from October through December, down from 34 the previous quarter and for the same period a year ago.

The median sale price of a million-dollar plus home dipped to $1,375,000 in the quarter, down 8.3 percent from the fourth quarter 2010 and 19 percent from the third quarter of 2011.

Other key indictors showed a mixed performance for the high-end market. Homes sold on average in 209 days, down from 231 days during the same period the previous year but up from 166 days in the third quarter. And sellers received an average of 90 percent of their asking price, up from 89 percent the previous year but down from 92 percent the previous quarter.

The figures were derived from Multiple Listing Service data of all homes sold in the region for more than $1 million during the most recent quarter.

“The luxury market took a bit of a breather at the end of 2011, but that was after strong run-ups earlier in the year including a 22 percent increase in the median sale price in the third quarter,” said Michael Lombardi, manager of Coldwell Banker Residential Brokerage in the North Lake Tahoe-Truckee region. 

“Overall, we’ve seen really good activity in the upper end of the Tahoe market for the better part of the past year,” he said. “That’s a healthy sign for the overall market because history has shown that sustainable recoveries in the housing market typically begin with the luxury segment.”

Lombardi said the North Lake Tahoe housing market “is likely to see ups and downs in the coming year.” But he added, “There will certainly be good buying opportunities for those interested in getting into a primary home or vacation property in Tahoe. My belief is that there will be a healthy inventory of homes for sale at attractive prices.”

Some key findings from the Coldwell Banker Residential Brokerage luxury report for the latest quarter:

• The most expensive sale in Tahoe-Truckee region was a four-bedroom, five-bath 4,421-square-foot Truckee home that sold for $3,575,000;
• Truckee again boasted the most million-dollar sales 12, followed by Olympic Valley with four, and Homewood with three;
• Homes sold in an average of 209 days, up from 166 days the previous quarter but down from 231 days a year ago.

The North Tahoe–Truckee Luxury Housing Report is a quarterly report by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Coldwell Banker Previews® program, the company is recognized around the world for its expertise in the luxury housing market. 

Coldwell Banker Residential Brokerage serves the North Lake Tahoe-Truckee area with five offices: 531 North Lake Tahoe Blvd. in Tahoe City, 475 North Lake Tahoe Blvd. in Tahoe City, 17400 Northwood’s Boulevard, Truckee, 10095 Dorchester Drive in Glenshire, and 6921 North Lake Boulevard in Tahoe Vista. For more information, please call 530.581.7779.

Meg Styles Named Sales Associate for Coldwell Banker Residential Brokerage in Danville

Coldwell Banker Residential Brokerage, the leading provider of real estate services the Bay Area, announced today that Meg Styles has joined the company as a sales associate in its Danville office.  In her new position, Styles will specialize in residential sales in Contra Costa County. 

 Prior to joining Coldwell Banker Residential Brokerage, Styles worked at Better Homes and Gardens Mason-McDuffie in Danville, and for 13 years in commercial real estate.

Beyond real estate, Styles is the president and founder of The Gretta Foundation (TGF), a non-profit organization created in honor of her mother and global nursing legend, Dr. Margretta “Gretta’ Styles.  10 percent of Styles’ gross commissions go directly to TGF to help support orphans and conflict survivors attending nursing school in Africa.

Styles has one daughter, a son-in-law in the Navy, a new granddaughter, and a son in the Marine Corps. 

She earned her bachelor’s degree in liberal arts at San Francisco State University and her master’s degree in public policy at California State University, East Bay.

Coldwell Banker Residential Brokerage in Danvilleis located at 671 San Ramon Valley Blvd.and can be reached at 925.837.4100.  Styles may be reached directly at 925.360.1868 and via e-mail at meg@styles.com.

San Francisco Luxury Home Sales, Prices up Slightly, Coldwell Banker Residential Brokerage Reports

Luxury home sales in San Francisco and the median sale price were up slightly in the fourth quarter as 2011 drew to a close, according to a new market report by Coldwell Banker Residential Brokerage, the region’s leading provider of luxury real estate services. 

A total of 57 homes sold for more than $2 million in San Francisco during the September-December quarter compared to 56 during the same period a year ago and 52 during the previous quarter.

Meanwhile, the median sale price of a multi-million home rose 3.8 percent from the previous year to $2,725,000. However, the median was down fractionally from the third quarter, when it stood at $2,750,000.

Other metrics showed a fairly level luxury market in the most recent quarter. Sellers received 97 percent of their asking price on average compared to 98 percent a year ago. And there were 24 sales in excess of $3 million, up from 23 the previous quarter and the same as the number in the fourth quarter of 2010.

The figures were derived from Multiple Listing Service data of all homes sold in San Francisco for more than $2 million during the most recent quarter.

“There continues to be solid demand for luxury homes in San Francisco, and throughout the Bay Area for that matter,” said Rick Turley, president of Coldwell Banker Residential Brokerage.

“We’ve seen really good activity in the upper end of the market for the better part of the past year,” he said. “That’s a healthy sign for the overall market because history has shown that sustainable recoveries in the housing market typically begin with the luxury segment.”

Turley said the challenge for San Francisco’s real estate market continues to be a shortage of homes for sale, not lack of buyers.

“I think it’s important for sellers to get the message that the market is getting better in many areas and there are buyers willing to pay competitive prices for homes,” he said. “If you’ve been thinking about putting your home on the market, you shouldn’t wait any longer. It’s time to jump in.”

Some key findings from the latest quarterly Coldwell Banker Residential Brokerage luxury report:

• The most expensive sale in San Francisco during the quarter was a six-bedroom, six-bath 11,000-square foot home in the Gold Coast section of the city that sold for $29.5 million;
• Zip code 94123 (Marina) and 94115 (Pacific Heights) had the most multi-million-dollar sales with 11 apiece, followed by 94118 (Presidio Heights/Inner Richmond) with eight, and 94109 (Nob Hill) with seven;
• Homes sold in 79 days on average during the quarter, up from 58 days the previous quarter and 60 days a year ago.

The San Francisco Luxury Market Report is a quarterly report by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Coldwell Banker Previews® program, the company is recognized around the world for its expertise in the luxury housing market. 

Coldwell Banker Residential Brokerage serves San Francisco with five offices. For more information, please call 925-275-3085.

Silicon Valley Luxury Home Prices Jump in December, Coldwell Banker Residential Brokerage Reports

Luxury home prices in Silicon Valley moved higher once again last month as the region’s high-end market continued to gain momentum, according to Coldwell Banker Residential Brokerage, the South Bay’s leading provider of luxury real estate services. 

The median sale price for a million-dollar-plus home in Santa Clara County reached $1,471,000, up 8.9 percent from a year ago and 6 percent from November, when it stood at $1,387,000.

While prices moved higher, luxury sales were flat as the year came to a close. Some 155 homes sold for more than $1 million, down fractionally from 158 sales in December 2010. Sales were down more sharply from November, when they stood at 232.

However, the number of multimillion-dollar sales climbed to 33 in December, up from just 22 a year ago.  There were 46 sales of more than $2 million in November.

The figures were derived from Multiple Listing Service data of all homes sold for more than $1 million last month in Santa Clara County.

“There continues to be solid demand for homes priced above $1 million in Silicon Valley and throughout the Bay Area, for that matter,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “We’ve seen really good activity in the upper end of the market for the better part of the past year. That’s a healthy sign for the overall market because history has shown that sustainable recoveries in the housing market typically begin with the luxury segment.”

Turley said the challenge for the South Bay’s real estate market continues to be a shortage of homes for sale, not lack of buyers.

“I think it’s important for sellers to get the message that the market is getting better in many areas and there are buyers willing to pay competitive prices for homes,” he said. “If you’ve been thinking about putting your home on the market, you shouldn’t wait any longer. It’s time to jump in.”

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

• The most expensive sale in Silicon Valley last month was a five-bedroom, seven-bath 6,143-square-foot home in Los Altos that sold for $5.65 million;
• Los Altos also boasted the most million-dollar sales with 34, followed by San Jose with 24, Palo Alto with 21, Saratoga with 19, Los Gatos with 18, and Cupertino and Mountain View with 11 each;
• Homes sold in 65 days on average, up from 54 days the previous month and 59 days a year ago;
• Sellers on average received 98 percent of their asking price compared to 99 percent the previous month and 97 percent a year ago.

The Silicon Valley 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, the company is recognized around the world for its expertise in the luxury housing market. 

Coldwell Banker Residential Brokerage serves Santa Clara County with 21 offices from Palo Alto to Hollister. For more information, please call 925-275-3085.

East Bay Luxury Home Sales Dip but Prices Rise, Coldwell Banker Residential Brokerage Reports

Luxury home sales in the East Bay dipped in December but the median sale price moved higher compared to last year, according to Coldwell Banker Residential Brokerage, the Bay Area’s leading provider of luxury real estate services. 

There were 74 sales last month for more than $1 million in Alameda and Contra Costa counties, down from 84 in November and 107 in December 2010. However, the median sale price of a luxury home was up 5.1 percent from a year ago to reach $1,256,000. The median did fall 3.3 percent from the month before.

Two other key metrics showed year-over-year improvement in the high-end market: Sellers received 96.5 percent of their asking price on average compared to 95.9 percent a year ago, and homes sold in 63 days on average, down from 76 days in December 2010.

The figures were derived from Multiple Listing Service data of all homes sold for more than $1 million last month in Alameda and Contra Costa counties.

“Although last month was a bit of a mixed bag, there continues to be solid demand for homes priced above $1 million in the East Bay and throughout the Bay Area, for that matter,” said Rick Turley, president of Coldwell Banker Residential Brokerage.

“We’ve seen really good activity in the upper end of the market for the better part of the past year,” he said. “That’s a healthy sign for the overall market because history has shown that sustainable recoveries in the housing market typically begin with the luxury segment.”

Turley said the challenge for the East Bay’s real estate market continues to be a shortage of homes for sale, not lack of buyers.

“I think it’s important for sellers to get the message that the market is getting better in many areas and there are buyers willing to pay competitive prices for homes,” he said. “If you’ve been thinking about putting your home on the market, you shouldn’t wait any longer. It’s time to jump in.”

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

• The most expensive sale in the East Bay last month was a five-bedroom, six-bath 6488-square-foot home in Blackhawk that sold for $2.81 million;
• Danville boasted the most million-dollar sales with 13, followed by Pleasanton with 11, Lafayette with nine, Oakland with eight, and Orinda with six;
• Homes sold in 63 days on average, down from 76 days a year ago but up from 48 days the previous month;
• Sellers on average received 96.5 percent of their asking price compared to 97.5 percent the previous month and 95.9 percent a year ago.

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, the company is recognized around the world for its expertise in the luxury housing market. 

Coldwell Banker Residential Brokerage has 10 East Bay offices serving Berkeley, Castro Valley, Danville, Fremont, Livermore, Oakland, Piedmont, Orinda, Pleasanton, and Walnut Creek. For more information, please call 925-275-3085.

Marin County Luxury Home Prices Jump in December, Coldwell Banker Residential Brokerage Reports

Luxury home prices in Marin County moved higher once again last month as the region’s high-end market continued to improve, according to Coldwell Banker Residential Brokerage, the Bay Area’s leading provider of luxury real estate services. 

The median sale price for a million-dollar-plus home in Marin County reached $1,595,000, up 1 percent from a year ago and a whopping 16 percent from November, when it was $1,375,000.

While prices moved higher, luxury sales did taper off as the year came to a close. Some 37 homes sold for more than $1 million, down from 43 in December 2010 and 55 the previous month. But the number of multi-million-dollar sales edged higher to 11, up from just seven a year ago and 10 in November.

Other market indicators also showed positive trends. Homes sold at a faster pace last month, averaging 106 days for those that closed in December, down sharply from 140 days last year and 111 days in November. And sellers received 95 percent of their list price on average, up from 93.7 percent last year.

The figures were derived from Multiple Listing Service data of all homes sold for more than $1 million last month in Marin County.

“There continues to be solid demand for homes priced above $1 million in the Marin County market and throughout the Bay Area, for that matter,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “We’ve seen really good activity in the upper end of the market for the better part of the past year. That’s a healthy sign for the overall market because history has shown that sustainable recoveries in the housing market typically begin with the luxury segment.”

Turley said the challenge for the market continues to be a shortage of homes for sale, not lack of buyers. “I think it’s important for sellers to get the message that the market is getting better in many areas and there are buyers willing to pay competitive prices for homes,” he said. “If you’ve been thinking about putting your home on the market, you shouldn’t wait any longer. It’s time to jump in.”

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

• The most expensive sale in Marin County last month was a four-bedroom, three-bath 1,793-square-foot home in Stinson Beach that sold for $5.7 million;
• Tiburon boasted the most million-dollar sales with seven, followed by Mill Valley with six, San Anselmo with five, and Corte Madera with four;
• Homes sold in average of 106 days, down from 111 days the previous month and 140 days a year ago;
• Sellers on average received 95 percent of their asking price compared to 96.1 percent the previous month and 93.7 percent a year ago.

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, the company 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.

The Wall Street Journal spotlighted a $7.2 million Coldwell Banker Previews International estate in Hillsborough this morning. The story includes interviews with the listing agent, Ed Stephens, and the family who is downsizing and selling the house after raising their eight children. Click here to read the story.

Two Oakland Coldwell Banker Residential Brokerage Agents Sworn in as Directors of Oakland Association of Realtors

Peter Nicolopoulos

Coldwell Banker Residential Brokerage, a leading provider of real estate services in the San Francisco Bay Area, announced today that two of its prominent Oakland sales professionals have been installed as directors for the Oakland Association of REALTORS® (OAR). 

At its 108^th annual inaugural ceremony held last Friday at the Lake Merritt Hotel, Peter Nicolopoulos and Andrea Gordon, both agents with Coldwell Banker Residential Brokerage’s Oakland-Piedmont office, were sworn in as organization directors for the 2012-2013 term.  The installing officer was Don Faught, incoming president of the California Association of REALTORS.

“Peter and Andrea are outstanding real estate professionals and excellent choices for directors of the Oakland Association of Realtors,” said Kathy Murphy, manager of Coldwell Banker Residential Brokerage’s Oakland-Piedmont office.  “In addition, both are long-time residents of the Oakland/Berkeley area and have extensive knowledge of the local real estate market.  They will be an asset to the organization’s leadership.”

 Nicolopoulos is an Oakland native, longtime Montclair resident, and graduate of Oakland’s California College of the Arts.  He has represented buyers and sellers of East Bay residential properties since 1987.

Andrea Gordon

Gordon has consistently ranked in the top 1 percent of Coldwell Banker agents internationally, is a Berkeley native, Claremont Knolls resident, and graduate of University of California, Santa Barbara.  She holds a master’s degree in theatre direction from San Francisco State University and is an award-winning theater director and producer.  She entered the real estate profession in 1998.

Coldwell Banker Residential Brokerage’s Oakland-Piedmont office is located at 6137 La Salle Avenue in Oakland and can be reached at 510.339.4700.  Nicolopoulos may be reached directly at 510.220.7015 and via e-mail at pnicolopoulos@comcast.net.  Gordon may be reached directly at 510.421.6818 and via e-mail at Andrea@AndreaGordon.com.

Top Real Estate Veteran John McInerney Returns as Managing Broker of Coldwell Banker TRI in San Francisco

Coldwell Banker Residential Brokerage, the leading provider of real estate services in San Francisco, announced today that San Francisco real estate veteran John McInerney has returned as managing broker of the company’s San Francisco Van Ness office, also known as Coldwell Banker TRI.  McInerney returns to the company after previously managing the office from 1997 to 2005. 

“We are excited to welcome John back to our San Francisco operations,” said Rick Turley, president of Coldwell Banker Residential Brokerage.  “His strong leadership skills and amazing connections in the San Francisco brokerage community make him uniquely qualified to lead and grow our Coldwell Banker TRI office.  Agents and their clients will benefit immensely from his expertise.” 

Prior to working in real estate, McInerney practiced real estate law fulltime from 1975 through 1997, and was formerly a partner at Orrick Herrington Sutcliffe LLP, one of the country’s preeminent firms.  He has been of counsel to Reuben & Junius LLP since 1998.  In addition to his experience as a real estate lawyer, he has testified as an expert witness in several practice areas including broker standard of care. 

McInerney also served the citizens of San Francisco as a member and president of the Board of Appeals for more than six years where he participated in the adjudication of approximately 3,300 matters.  He has been a fee dispute arbitrator for the Bar Association of San Francisco for more than 25 years and has served on the San Francisco Superior Court Arbitration Panel and the Board of Directors of the San Francisco Association of Realtors.

A fifth-generation San Franciscan, McInerney is a graduate of the University of San Francisco and the University of San Francisco School of Law.  He has developed many buildings in San Francisco over the past 30 years, including more than 200 new units. 

Outside of real estate, McInerney is an active member of the Order of Malta and its local leadership team. He currently lives in San Francisco and Healdsburg with his wife, Sally Ann, and has four adult children.

Coldwell Banker TRI office is located at 1699 Van Ness Avenue and can be reached at 415.474.1750.  McInerney may be reached directly at John.McInerney@cbnorcal.com.

Coldwell Banker Residential Brokerage’s Gold Rush Open Home Event

Sunday, January 22, 2012
12-2 p.m.

Stop by a Coldwell Banker open home and enjoy football inspired refreshments. Search For Your Next Dream Home without missing a minue of the pre-game excitement!

We look forward to seeing you this Sunday! Touchdown red and gold!