East Bay luxury home sales jumped nearly 40% in February as the high-end housing market continued its strong performance, according to a new report by Coldwell Banker Residential Brokerage.
The figures are based on Multiple Listing Service data of all homes sold for more than $1 million last month in Alameda and Contra Costa counties.
A total of 116 luxury homes sold last month, up 39.7% from 83 transactions in February 2013. High-end sales were also up 28.9% from January's 90 transactions.
Meanwhile, the median sale price of a luxury home in February was $1,226,750, down 8.8% from a year ago when the median stood at $1,345,000 and down 7.4% from the previous month.
Other market metrics were encouraging last month. There were 11 sales of more than $2 million, up from 10 at the same time last year and nine the previous month. Homes also sold faster on average and sellers received a greater percentage of their asking price than the month before and year ago.
Some key findings from this month's Coldwell Banker Residential Brokerage luxury report:
The most expensive sale in the East Bay last month was a five-bedroom, seven-bath approximately 7,500-square-foot home in Blackhawk that sold for $3,375,000;
Danville boasted the most luxury sales with 14, followed by Oakland and Fremont with 11 each, Alamo with 10, and Berkeley and Blackhawk with eight each;
Homes sold in an average of 42.1 days on the market, down from 43.1 days a year ago and 46.5 days the previous month;
Sellers received an average of 102% of their asking price, up from 101% a year ago and 100% the previous month.
The luxury housing market report is a monthly report by Coldwell Banker Residential Brokerage, which has nine East Bay offices serving Pleasanton, Berkeley, Castro Valley, Danville, Fremont, Oakland, Piedmont, Orinda and Walnut Creek.