Marin County Luxury Home Sales Rise in October, Coldwell Banker Residential Brokerage Reports

Greenbrae, CA, November 25, 2011 --(PR.com)-- Luxury home sales in Marin County climbed higher in October from year-ago levels while the median sale price was down fractionally, according Coldwell Banker Residential Brokerage, the region’s leading provider of luxury real estate services.

A total of 50 homes sold for more than $1 million in Marin County last month, up from 43 transactions in October 2010. Million dollar sales last month were flat from September’s level.

The median sale price for a million-dollar property in October was $1,385,000, off 2.8 percent from a year ago. Last month’s median price was 7.6 percent below the September level of $1.5 million.

Other metrics for the high-end market improved: Homes sold on average in 66 days, down sharply from 111 days a year ago and 122 days for September closed sales. Sellers also received an average of 97.3 percent of their asking price, up from 93.5 percent last year and 94.7 percent the previous month.

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

“Marin County’s high-end market continues to be one of the stronger segments of the local real estate market,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “This is consistent with what we’re seeing elsewhere around the Bay Area, especially in Silicon Valley, San Francisco and the Peninsula.

Turley said that affluent buyers are viewing real estate as a good, long-term investment at current prices, and an attractive alternative to the volatility of the stock market.

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

- The most expensive sale in Marin County last month was a six-bedroom, six-bath 8,665-square foot home in Ross that sold for $13.5 million;

- Mill Valley boasted the most million-dollar sales with 15, followed by Tiburon with six, Larkspur with five and Kentfield with four;

- There were 10 sales over $2 million compared to 11 multi-million-dollar sales the previous month and 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.

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. Through its internationally renowned Coldwell Banker Previews® program, the company leads the luxury home market in Northern California, representing more than 22% of all dollar volume sold of properties over $1 million. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT has 750 offices and 45,000 sales associates operating in more than 35 major metropolitan areas. A subsidiary of Realogy Corporation, NRT operates Realogy’s company-owned real estate brokerage offices. For more information please visit www.CaliforniaMoves.com or call 925.275.3085. DRE # 00313415.

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