La Jolla, CA (PRWEB) February 10, 2013

The Real Estate Marketing Insider named the winner of this week’s Luxury Market of the Week award following a news release in the SFGate. The award for the domestic market with the most potential for realtors went this week to San Francisco and its Bay Area.

Realtors and real estate leads experts report that the Bay Area saw a surge in sales of luxury properties in 2012. In addition to anecdotal reports from realtors that focus on luxury properties, SFGate reported on some inspiring numbers from the Bay Area’s luxury market. In 2012, 162 properties sold in the Bay Area for over $5 million. In the 9 counties of the Bay Area, over 11,000 $1 million-plus properties were sold. Among the reasons being cited for the boom are the recent successes of the tech industry in the area, as well as increased attention from foreign buyers.

California has always been a prime starting point for luxury property. All along its lengthy coastline, the Golden State offers pristine views, great tourism opportunities, and major urban areas within reach. Thanks to the tech industry and the Asian population in San Francisco, luxury buyers are starting to concentrate in the San Francisco area. Everything from beach front vacation rentals to Humboldt-area beach properties has attracted big money. Any realtor who lists a few luxury properties around the Bay Area should see them sell quickly, easily, and for a hefty price. Realtors looking to expand their luxury portfolios should take a closer look at REMI’s Luxury Market of the Week, before available listings in the area decrease.

The Real Estate Marketing Insider named the San Francisco Bay Area its Luxury Market of the Week. San Francisco enjoyed a huge push in the luxury market in 2012, with several $5 million-plus sales and over 11,000 million-dollar sales.

About the Real Estate Marketing Insider:

The Real Estate Marketing Insider is a valuable resource for realtors, home buyers and investors. REMI provides up-to-the-minute news, market analysis, and trend watches.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebluxury-housing-markets/02/prweb10407152.htm

Article source: http://www.sfgate.com/business/prweb/article/REMI-s-Luxury-Market-of-the-Week-is-San-4266428.php

La Jolla, CA (PRWEB) February 10, 2013

The Real Estate Marketing Insider named the winner of this week’s Luxury Market of the Week award following a news release in the SFGate. The award for the domestic market with the most potential for realtors went this week to San Francisco and its Bay Area.

Realtors and real estate leads experts report that the Bay Area saw a surge in sales of luxury properties in 2012. In addition to anecdotal reports from realtors that focus on luxury properties, SFGate reported on some inspiring numbers from the Bay Area’s luxury market. In 2012, 162 properties sold in the Bay Area for over $5 million. In the 9 counties of the Bay Area, over 11,000 $1 million-plus properties were sold. Among the reasons being cited for the boom are the recent successes of the tech industry in the area, as well as increased attention from foreign buyers.

California has always been a prime starting point for luxury property. All along its lengthy coastline, the Golden State offers pristine views, great tourism opportunities, and major urban areas within reach. Thanks to the tech industry and the Asian population in San Francisco, luxury buyers are starting to concentrate in the San Francisco area. Everything from beach front vacation rentals to Humboldt-area beach properties has attracted big money. Any realtor who lists a few luxury properties around the Bay Area should see them sell quickly, easily, and for a hefty price. Realtors looking to expand their luxury portfolios should take a closer look at REMI’s Luxury Market of the Week, before available listings in the area decrease.

The Real Estate Marketing Insider named the San Francisco Bay Area its Luxury Market of the Week. San Francisco enjoyed a huge push in the luxury market in 2012, with several $5 million-plus sales and over 11,000 million-dollar sales.

About the Real Estate Marketing Insider:

The Real Estate Marketing Insider is a valuable resource for realtors, home buyers and investors. REMI provides up-to-the-minute news, market analysis, and trend watches.

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Article source: http://www.prweb.com/releases/luxury-housing-markets/02/prweb10407152.htm

The median price in the luxury market, however, was $4,440,150, up 7 percent from a year ago, according to Douglas Elliman. The luxury market represents the upper 10 percent of all co-op and condo sales.

“The year-end jump in sales was a function of proactive tax management by property owners. Although it wasn’t clear what form the tax hikes related to housing would take, it was assumed that 2013 would be higher than 2012,” noted Jonathan Miller, CEO of Miller Samuel, which provides the Elliman report data. (Read More: Million Dollar Winter Wonderland Homes.)

Prices in Manhattan are still about 6 to 7 percent off their pre-recession highs, but low supply will likely narrow that gap in 2013. Strong demand from foreign, all-cash buyers is also boosting prices, especially in the condo market. Gains, however, may slip in the current quarter, as so much demand was pulled forward.

Article source: http://www.cnbc.com/id/100351956

A total of 86 homes sold for more than $2 million in San Francisco during the April-June quarter, up from just 50 sales in the first quarter of the year and 76 during the second quarter of 2010. The 86 transactions marked the highest level of multi-million-dollar sales in the city since just before the Lehman Brothers collapse and the subsequent crash of the financial markets.

While sales have steadily improved, prices in the high-end market continued to adjust during the most recent quarter. The median sale price of a multi-million-dollar home in San Francisco dipped to $2,665,000 during the second quarter, down from $2,727,500 in the first quarter and $2,912,500 during the same period a year ago.

Other metrics showed improvement for the city’s luxury market. Home sales over $3 million more than doubled from the first quarter to 33 transactions. Homes sold in average of 70 days, down from 79 days the previous quarter. And sellers received 97 percent of their asking price on average, up from 96 percent in the first quarter.

The figures were derived from Multiple Listing Service data of all homes sold in San Francisco for more than $2 million during the second quarter of 2011.

“After a fairly quiet spring, the housing market is heating up this summer, particularly the luxury market here in San Francisco,” said Rick Turley, president of Coldwell Banker Residential Brokerage. “The high-end segment normally leads the way for the rest of the market in a housing recovery, so this is encouraging news for the entire market.”

Turley said Coldwell Banker is seeing similar improvement in other luxury markets around the Bay Area, including Silicon Valley, the Peninsula and Marin County. All of those markets have bounced back from their recessionary lows and in some cases are nearing their pre-recession levels in sales.

Although the high-end markets have done best, Turley noted that many entry-level and mid-level markets around the Bay also showed solid gains 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.

Some key findings from the second quarter Coldwell Banker Residential Brokerage luxury report:

* The most expensive sale in San Francisco during the quarter was a six-bedroom, seven-bath 5,800-square foot home in Presidio Heights that sold for $9.25 million;

* Zip code 94123 (Marina) had the most multi-million-dollar sales with 14, followed by 94115 (Pacific Heights) with 11 sales, 94109 (Nob Hill) with nine, and 94114 (Noe Valley/Castro Valley) and 94118 (Presidio Heights/Inner Richmond) with eight apiece;

* Sellers received on average 97 percent of their asking price, up from 96 percent the previous month but down from 98 percent a year ago;

The San Francisco Luxury Market Report is a quarterly report by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Coldwell Banker Previews® program, the company is recognized around the world for its expertise in the luxury housing market.

Coldwell Banker Residential Brokerage serves San Francisco with five offices. For more information, please call 925-275-3085.

About Coldwell Banker Residential Brokerage

Coldwell Banker Residential Brokerage is the largest residential real estate brokerage in Northern California and serves the markets from Monterey to Tahoe and nearly every market in between. The company has 62 office locations and more than 3,600 sales associates throughout Northern California. Last year the company handled 13.5% of all dollar volume sold in Northern California, more than double its nearest competitor. Through its internationally renowned Coldwell Banker Previews® program, the company leads the luxury home market in Northern California, representing more than 22% of all dollar volume sold of properties over $1 million. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT has 750 offices and 45,000 sales associates operating in more than 35 major metropolitan areas. A subsidiary of Realogy Corporation, NRT operates Realogy’s company-owned real estate brokerage offices. For more information please visit www.CaliforniaMoves.com or call 925.275.3085. DRE # 00313415.

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Article source: http://www.pr.com/press-release/344027

San Francisco’s luxury home market is showing signs of a turnaround, according to prominent Bay Area Realtor Cece Doricko, who specializes in Forest Hill, Pacific Heights, Cow Hollow and St. Francis Wood, CA real estate. Citing figures from Coldwell Banker’s latest San Francisco Luxury Market Report, Doricko reports a 13.6 percent increase in the number of home sales in the first quarter of 2011 as compared to that of the same period last year.

“Buyers of Pacific Heights luxury real estate and other luxury properties in San Francisco are starting to make their presence felt once again,” says Doricko, “and it’s not surprising why. Homes in these kinds of neighborhoods have always been sought-after and now there are quite a few that are priced lower than they have been for some time. It’s no wonder, then, that buyers who have the means are not letting these opportunities pass them by.”

On a year-over-year basis, the median sale price of San Francisco luxury real estate went down by 4.3 percent in the first quarter though it shows an increase of 3.9 percent when compared to the fourth quarter of 2010. “You won’t be seeing any dramatic price dips in these neighborhoods,” says leading Forest Hill, San Francisco Realtor Doricko. “Properties in areas like Forest Hill and Pacific Heights have always been at a premium, so whatever price declines you’re seeing now are likely to be it, especially since luxury home sales are already trending upwards.”    

Doricko, whose area of expertise includes Cow Hollow, San Francisco luxury homes and properties in Lower Marin County, recently launched a new real estate website, CeceDoricko.com, in anticipation of the market’s eventual recovery. “When people start buying homes again, they are going to need all the relevant and up-to-date information that they can get and this is what I aim to provide via this website.”

To begin exploring the San Francisco luxury home market and to learn more about Doricko’s real estate services, visit her new site, CeceDoricko.com.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebSanFranciscoRealtor/CeceDoricko/prweb8529269.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/06/09/prweb8529269.DTL

Leading Forest Hill, San Francisco Realtor Cece Doricko reports seeing signs of a turnaround in the city’s luxury home market. More information on current market trends and available properties in Forest Hill, St. Francis Wood, and other premier neighborhoods can be found in Doricko’s newly launched website.

San Francisco, CA (PRWEB) June 09, 2011

San Francisco’s luxury home market is showing signs of a turnaround, according to prominent Bay Area Realtor Cece Doricko, who specializes in Forest Hill, Pacific Heights, Cow Hollow and St. Francis Wood, CA real estate. Citing figures from Coldwell Banker’s latest San Francisco Luxury Market Report, Doricko reports a 13.6 percent increase in the number of home sales in the first quarter of 2011 as compared to that of the same period last year.

“Buyers of Pacific Heights luxury real estate and other luxury properties in San Francisco are starting to make their presence felt once again,” says Doricko, “and it’s not surprising why. Homes in these kinds of neighborhoods have always been sought-after and now there are quite a few that are priced lower than they have been for some time. It’s no wonder, then, that buyers who have the means are not letting these opportunities pass them by.”

On a year-over-year basis, the median sale price of San Francisco luxury real estate went down by 4.3 percent in the first quarter though it shows an increase of 3.9 percent when compared to the fourth quarter of 2010. “You won’t be seeing any dramatic price dips in these neighborhoods,” says leading Forest Hill, San Francisco Realtor Doricko. “Properties in areas like Forest Hill and Pacific Heights have always been at a premium, so whatever price declines you’re seeing now are likely to be it, especially since luxury home sales are already trending upwards.”    

Doricko, whose area of expertise includes Cow Hollow, San Francisco luxury homes and properties in Lower Marin County, recently launched a new real estate website, CeceDoricko.com, in anticipation of the market’s eventual recovery. “When people start buying homes again, they are going to need all the relevant and up-to-date information that they can get and this is what I aim to provide via this website.”

To begin exploring the San Francisco luxury home market and to learn more about Doricko’s real estate services, visit her new site, CeceDoricko.com.

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For the original version on PRWeb visit: http://www.prweb.com/releases/prwebSanFranciscoRealtor/CeceDoricko/prweb8529269.htm

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Article source: http://www.benzinga.com/press-releases/11/06/p1151874/signs-of-a-turnaround-in-san-franciscos-luxury-real-estate-market