Luxury home sales in Marin County edged 2.6 percent higher in June from a year ago as the market continues to be challenged by limited inventory, according to a new report by Coldwell Banker Residential Brokerage, the leader in Marin County luxury real estate services.
The figures are based on Multiple Listing Service data of all homes sold for more than $1.5 million last month in Marin County.
There were 79 luxury sales in June, up from 77 high-end sales in June 2014. Last month’s total was fractionally lower than May’s 81 luxury sales. There were 41 sales over $2 million, down from 45 the previous month and a year ago. And 13 homes sold for more than $3 million last month.
At the same time, the median sale price of a luxury property dipped 5.3 percent last month from a year ago to reach $2,095,000. June’s median price was off 2.6 percent from May’s $2.15 million median price.
“Marin County’s luxury housing market remains healthy, but the shortage of listings continues to hold back the market from really strong gains,” said Mike James, president of Coldwell Banker Residential Brokerage. “As more inventory comes on the market I suspect we’ll see even stronger results across all market segments, including luxury home sales.”
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, seven-bath approximately 7,100-square-foot home in Ross that sold for $6.8 million;
- Mill Valley boasted the most luxury sales with 24, followed by San Rafael with 11, and Tiburon with eight;
- Homes sold in an average of 45.9 days on the market, down from 71.6 days a year ago and 90.5 days the previous month;
- Sellers received an average of 103 percent of their asking price, up from 101 percent a year ago and 102 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 has 10 branch offices throughout Marin County to serve homebuyers and sellers. For more information please call 925.771.5285.