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East Bay luxury home sales up 32% with Pleasanton home selling for $4.8 million

Median sale luxury homes last month edge up to $1,275,500

Luxury home sales in the East Bay closed out 2015 on a high note with sales climbing 32% in December from a year ago, 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 322 luxury homes changed hands in December in the East Bay, up from 244 high-end sales in December 2014. Luxury home sales last month were also up from the 292 transactions in November.

Meanwhile, the median sale price of a luxury home last month edged up 1% from a year ago to reach $1,275,500. The median was also up nearly 2% from November, when it was $1,251,500.

"The East Bay's luxury housing market finished up 2015 on a roll with outstanding sales numbers across the board," said Mike James, president of Coldwell Banker Residential Brokerage. "We're starting to see signs that more listings may be coming on the market in the next few months, and that would be great news for buyers who are competing for the limited number of homes for sale."

Some key findings from this month's Coldwell Banker's report:

The most expensive sale in the East Bay last month was 10-bedroom, seven-bath approximately 7,000 square foot home in Pleasanton that sold for $4.8 million;

Oakland boasted the most luxury sales with 51, followed by Fremont with 39, Danville with 33, Berkeley with 32, Walnut Creek with 26 and Lafayette with 20;

Homes sold in an average of 34.7 days on the market, up from 31.1 days a year ago and 33.1 days the previous month;

Sellers received an average of 105% of their asking price, up from 104% a year ago but down from 107% the previous month.

Coldwell Banker Residential Brokerage has nine East Bay offices serving Pleasanton and eight other municipalities.

For more information, call (925) 771-5285.

Comments

Like this comment
Posted by Michael Austin
a resident of Pleasanton Meadows
on Jan 31, 2016 at 6:27 pm

Michael Austin is a registered user.

Jeb,

I purchased my first property in Pleasanton in the mid ninety's.
I purchased my current property in 2000.

Recently, I have had several phone calls from realtors asking if I would consider selling my current property. I expressed no interest to all of them.

This weekend, A real estate person rang my door bell. He asked, bluntly if I would accept X dollars for my home.

I said no, I do not like to move. He upped his offer, stating he has clients ready to make an offer. His offer as stated to me ay my front door, is double what I paid for my home.

I said to the realtor, I will mention your offer to my wife. He said he will call me.

Not sure where this will go, but, I may consider a buy out if it is overbearing attractive as this realtor presented.


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