Marin County's Luxury Home Sales Edge Higher in June, Coldwell Banker Residential Brokerage Reports

Mill Valley, CA, August 01, 2012 --(PR.com)-- Marin County's luxury home sales edged higher in June, according to a new report by Coldwell Banker Residential Brokerage, the Bay Area's leading provider of luxury real estate services.

A total of 80 homes sold for more than $1 million in June, up from just 77 in May, a 3.9 percent increase. Last month marked the most million-dollar sales since last June, when there also were 80 transactions.

The upper end of the luxury market gained strength last month as well with 25 sales in excess of $2 million, up from 20 a year ago and 24 in May.

Million-dollar properties also sold faster last month with the average home spending 73 days on the market, down from 100 in May. The days-on-market total was up slightly from 69 days a year ago. And sellers received 98.5 percent of their asking price on average, up from 97 percent a year ago.

While sales moved higher in June, the median sale price of a luxury home was down 5 percent from May to $1.52 million. However, the median price was up 1.8 percent from a year ago.

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

“Marin County's luxury market continues to strengthen as the year goes along," said Rick Turley, president of Coldwell Banker Residential Brokerage. "As with other luxury markets in the Bay Area, including San Francisco and the Peninsula, there just aren't enough listings to meet the demand of well-qualified buyers."

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 3,503-square-foot home in Tiburon that sold for $4,135,000;

* Mill Valley boasted the most luxury sales with 19, followed by Tiburon and San Anselmo with 11 apiece, Belvedere with eight, and Kentfield with six;

* Homes sold in an average of 73 days compared to 69 days a year ago and 100 days the previous month;

* Sellers on average received 98.5 percent of their asking price compared to 97.6 percent the previous month and 97 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 Coldwell Banker Real Estate’s 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 725 offices and 41,500 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.