COLDWELL BANKER LUXURY HOME SALES EXCEED MID-YEAR RECORD
· Report Highlights Nation's Hottest Luxury Home Markets and Prices
Parsippany, N.J. 08-27-2003 -- Coldwell Banker Real
Estate Corporation (Coldwell Banker) today announced that its
affiliates’ mid-year 2003 sales of luxury homes increased by 8.2 percent
with 5,849 homes sold with a value of one million dollars or more. In
addition, Coldwell Banker® achieved an 8.9 percent increase in luxury
home sales volume from mid-year 2002 to 2003, surpassing the $10 billion
mark in sales volume. In this release, Coldwell Banker highlights its
top luxury home markets by state and city, and includes a list of its
top 50 sales prices nationwide.
An overview of the Coldwell Banker Luxury Home Sales Report shows:
· Out of the top 30 states in Coldwell Banker luxury home sales,
California continues to lead the country reporting more than half the
sales of luxury homes in the entire country with over $5.5 billion in
sales volume. California also claimed the highest closed sale price by
a Coldwell Banker sales associate in the U.S. during the first six
months of 2003: a $21.6 million home in Montecito. Florida was the
next strongest state with more than $1 billion in luxury home sales
volume.
· For the first half of 2003, Coldwell Banker reported that the highest
activity of luxury homes sold was among those priced between $1 and $5
million with more than 5,500 homes in this segment. In addition, the
company reported sales of just over 100 homes in the $5 and $10 million
range, nine homes between $10 million and $19 million, and two homes for
more than $20 million.
“With baby boomers trading up to bigger, more expensive homes, we
expect the luxury housing market to maintain strong levels of activity
for the balance of the year,” said Alex Perriello, president and CEO,
Coldwell Banker Real Estate Corporation. “Even with interest rates
ticking a bit higher, we believe the nation’s demographics will fuel the
market at a healthy pace.”
(Please click image above to view demographic breakdowns.)
Coldwell Banker Previews International® system has been a world
leader in the marketing of luxury homes since 1933. This luxury home
marketing program has been exclusive to Coldwell Banker affiliates since
1994. In 2002, Coldwell Banker sales associates were involved in the
sale of 11,158 homes priced at a million dollars or more with a total
sales volume of $18.9 billion in the $1 million and above price range.
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