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

Greenbrae, CA, April 28, 2012 --(PR.com)-- Marin County's luxury housing market continued to pick up steam in 2012 as both sales and the median sale price of million-dollar homes rose last month, according to a new report by Coldwell Banker Residential Brokerage, the Bay Area's leading provider of luxury real estate services.

A total of 48 properties sold for more than $1 million last month, up from 44 in February and 33 in January. The median sale price of a luxury home also soared 15.3 percent from the previous month to $1,525,000.

While sales and prices have steadily risen this year, transactions were down from March 2011 when 62 properties changed hands. The median sale price was off slightly from the $1.58 million level of a year ago.

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

“Marin's luxury market continues to gain momentum in 2012," said Rick Turley, president of Coldwell Banker Residential Brokerage. "The demand for high-end housing in the county – just like other parts of the Bay – continues to strengthen along with the economy and financial markets. Our only challenge is that we don't have enough homes to sell."

Turley said the inventory of homes for sale continues to be 25-50 percent below where it stood a year ago. "I don't think sellers have gotten the message yet that the market has turned around, especially in places like Marin," he said. "Good properties are not only selling, but they're attracting multiple offers and often going for more than the asking price."

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

* The most expensive sale in Marin County was a four-bedroom, five-bath 5,360-square-foot home in Tiburon that sold for $5.4 million;

* Mill Valley boasted the most million-dollar sales with 15, followed by Tiburon with 10 and Sausalito with five;

* Homes sold in 135 days on average, down from 143 days the previous month but up from 106 days a year ago;

* Sellers on average received 95.2 percent of their asking price compared to 95.9 percent the previous month and 94.7 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.

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 #01908304.