Marin Luxury Homes Sales Highest in Three Years

The luxury housing market in Marin County and around the San Francisco Bay Area continues to be in high demand. Sales in Marin County last month hit their highest level in three years!! Marin County’s luxury home sales reached their highest level in three years in June as the high-end market continued to bounce back from the recessionary downturn. A total of 80 homes sold for more than $1 million in Marin County last month, up from 60 in May and 78 in June 2010. The 80 transactions for the most part were million-dollar deals in Marin for any month since July 2008, the period leading up to the Lehman Brothers collapse and the subsequent crash of the financial markets. The median sale price of a million-dollar home in Marin was $1,492,500 in June, up 4.7 percent from last year’s $1,425,000 median but down from the previous month’s level of $1.6 million. Other metrics continued to show steady improvement for the Marin market: Homes sold at a much faster pace with the average time on the market dropping to 69 days, down from 96 in May and 91 last June. And sellers received an average of 98 percent of their asking price last month, up from 95 percent the previous month and 96 percent a year ago. The figures were derived from Multiple Listing Service data of all homes sold in Marin County for more than $1 million last month. Bay Area home sales overall in June rose to their highest level for any month since June 2010, when expiring tax credits gave housing a final boost, according to DataQuick, the La Jolla research firm.

- Most Expensive Sale: 6 bedroom, 6 bathroom 4,806-square foot home in Kentfield that sold for $4,023,000

- Mill Valley had the most million-dollar sales with 17, followed by Tiburon, Kentfield, San Anselmo and San Rafael

- Sellers received on average 98% of their asking price, up from 95% the previous month and 96% a year ago

- Homes closing last month stayed on the market an average of 69 days, down from 96 days the previous month and 91 days a year ago