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REAL ESTATE: Luxury home sales jump nearly 40%,

Home in Blackhawk leads January sales $3,375,000

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.

Comments

Like this comment
Posted by Richard Goh
a resident of San Ramon
on Mar 23, 2014 at 8:23 pm

Good news for all real estate agents. It seems that selling homes is still great while contracdicting to this report.

Existing-Home Sales Drop in January While Prices Continue to Grow read more at Web Link


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