Marin County luxury sales dipped 8.6 percent in September from a year ago, 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 53 luxury sales in September, down from 58 high-end sales in September 2014. Last month’s total was also down from August’s 59 luxury sales, although a seasonal decline from August to September isn’t unusual.
The upper end of the Marin luxury market remained steady with 32 sales over $2 million last month, the same as a year ago, and 15 sales over $3 million, up one from September 2014 and August 2015.
Meanwhile, the median sale price of a luxury home in Marin was off 2.3 percent last month from a year ago to $2.15 million, down from $2.2 million in September 2014. The median sale price was flat from August of this year.
“Overall, the Marin County luxury market remains healthy although sales are being slowed a bit by the lack of inventory,” said Mike James, president of Coldwell Banker Residential Brokerage. “The buyers are out there and ready to purchase, but we can use more inventory for them to choose from. We’ll see if that happens as the fall home buying season continues.”
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 9,400-square-foot home in Belvedere-Tiburon that sold for $15.5 million;
- Mill Valley boasted the most luxury sales with 14, followed by Tiburon with 13 and Ross with five;
- Homes sold in an average of 82.5 days on the market, up from 64.1 days a year ago and 78.5 days the previous month;
- Sellers received an average of 102 percent of their asking price, up from 100 percent a year ago and 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.