East Bay Luxury Home Sales Up Slightly from Last Year, Coldwell Banker Residential Brokerage Reports

Million-dollar home sales in the East Bay were up slightly in September compared to a year ago, but the median sale price of luxury homes in Alameda and Contra Costa counties dipped, according to Coldwell Banker Residential Brokerage, the Bay Area’s leading provider of luxury real estate services.

A total of 112 homes sold for more than $1 million in the East Bay in September compared to 109 during the same month last year, a 2.8 percent increase. However, sales declined 4.3 percent from August, when 117 properties changed hands. The median sale price of million-dollar homes was $1,277,500 in September, down 3.2 percent from a year ago and 6.7 percent from the previous month.

Two other key indicators of the market improved: It took an average of 67 days to sell a million-dollar home last month, down from 78 a year ago, and sellers received nearly 97 percent of their asking price on average compared to 95 percent last year.

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

“The East Bay’s luxury housing market continues to show signs of stabilization and gradual improvement,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “The recovery has been coming in fits and starts – much like the economy itself. Not every month has seen equal gains, but in general we appear to be moving in the right direction.”

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

  • The most expensive sale in the East Bay in September was a five-bedroom, seven-bath 8,100-square foot home in Pleasanton that sold for $3.65 million;
  • Alamo boasted the most million-dollar sales with 16, followed by Danville with 13, Lafayette and Orinda with 11 apiece, and Oakland and Pleasanton with nine each;
  • It took an average of 67 days to sell a million-dollar property in the East Bay last month, down from 78 days a year ago but up from 53 days the previous month.

Through its internationally renowned Coldwell Banker Previews® program, the company sells more multi-million dollar properties in Northern California than any other company. Last year, Coldwell Banker sold more than 27% of properties over $3 million and more than 33% of homes priced above $5 million.

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.

 

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