Luxury home sales in Marin County surged again last month from year ago levels, according to a new report by Coldwell Banker Residential Brokerage, the Bay Area’s leading provider of luxury real estate services.
The figures are based on Multiple Listing Service data of all homes sold for more than $1 million last month in Marin County.
A total of 60 homes sold for more than $1 million in December, up from 37 the same month a year ago, a 62 percent increase. On a monthly basis, sales were off from November’s 68 transactions.
The median sale price of a luxury home closing last month was $1,377,500, down from the $1,595,000 median a year ago and $1,550,000 median in November.
Most other key indicators for the luxury market also improved last month from the same period a year ago. There were 12 sales over $2 million, up from 11 multi-million sales last December. And sellers received a higher percentage of their asking price.
“The luxury market in Marin County closed out 2012 the way it began, with healthy sales and strong buyer interest,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the Bay Area.
Turley noted that some of the increase in sales could be due to luxury homeowners deciding to sell before the expected increase in the capital gains tax rate took effect in January.
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, four-bath approximately 5,200-square-foot home in Tiburon that sold for $6.7 million;
- Tiburon boasted the most million-dollar sales with 16, followed by Mill Valley and San Rafael with nine, San Anselmo with six, and Kentfield with five;
- Homes sold in an average of 107 days compared to 106 days a year ago and 95.2 days the previous month;
- Sellers received an average of 96 percent of their asking price, up from 95 percent a year ago but down from 97 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.