Sacramento Tri-County Area Luxury Home Sales Increase in July

Written by Posted On Tuesday, 21 August 2018 06:33

CONCORD, Calif. (August 16, 2018) – The total number of luxury home sales in the Greater Sacramento area increased during July 2018 compared to July of 2017, according to a new report by Coldwell Banker Residential Brokerage, Northern California's leading provider of real estate services.

As total luxury sales in the area jumped by 54.4 percent, the median sales price rose to $1,030,000, a 4 percent increase as compared to July of 2017. A total of 88 luxury properties sold in San Mateo, Sacramento and Placer Counties in July 2018. The statistics are based on sales of luxury residential properties with a sales price of $850,000 and above in Sacramento, San Mateo and Placer counties recorded by the Multiple Listing Service.

Throughout July, luxury home buyers paid an average of 95.7 percent of the home’s list price, compared to 95.3 percent in July of 2017. Homes sold in an average of 60 days, down from 67 days on the market in July of 2017.

“All of the signs of a healthy luxury housing market are present in the Sacramento Tri-County area, which is seeing improving inventory levels, rising home values and low days on market,” said Terri Briggs, regional vice president of Coldwell Banker Residential Brokerage Sacramento/Tahoe. “The July numbers reflect a strong start to the third quarter housing market.”

Additional highlights from the Sacramento Tri-County July report include:

  • Loomis saw the most expensive sale with a property trading hands for $2,764,000
    • At the end of July 2018, there were 469 luxury homes available, compared to 387 luxury homes at the end of July 2017
  • The majority of overall luxury sales in July were concentrated in Granite Bay

Coldwell Banker Residential Brokerage serves Sacramento, Placer and El Dorado counties with nearly 800 affiliated sales associates in 12 offices.

Coldwell Banker Residential Brokerage is the largest residential real estate brokerage in Northern California and serves the markets from Carmel to Tahoe. The company has approximately 56 offices and more than 4,000 affiliated agents. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of Coldwell Banker Residential Brokerage. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. For more information, visit CalBRE #01908304.

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