COLDWELL
BANKERŪ U.S. LUXURY HOME SALES CLIMB TO A RECORD $35.5 BILLION IN 2004
-
Coldwell BankerŪ System Reports a 52 Percent
Increase in Luxury Sales
-
Report Highlights Nation's Hottest Luxury Home
Markets and Prices
PARSIPPANY, N.J. (February 24,
2005) - Coldwell Banker, a leader in luxury home sales, today
announced its 2004 sales of U.S. luxury homes valued at $1 million or
more surged to an all-time high of $35.5 billion, surpassing its
previous record of $23.3 billion set in 2003. Coldwell Banker
affiliated companies nationwide participated in the sales of 20,292
homes in 2004, a 47 percent increase over 2003 results. The average
price for Coldwell Banker luxury homes sold in 2004 also rose to
a record $1.7 million.
"The luxury real estate market continues to thrive," said Jim Gillespie,
president and chief executive officer of Coldwell Banker Real Estate
Corporation. "e expect the luxury home sales market to remain solid
throughout 2005. Demand continues to be strong, spurred by a rebounding
economy and high demand from baby boomers who have more disposable
income than any other previous generation, and continued attractive
interest rates."
In this release, Coldwell Banker highlights its top luxury home
markets by state and city, and includes a list of its top 50
transactions nationwide. The data provided represents only
Coldwell Banker luxury home sales figures. Highlights from the 2004
Coldwell Banker Luxury Home Sales Report include:
California Continues "old Rush"of Luxury Home Sales:
- In California, Coldwell Banker reported nearly seven times
more sales of luxury homes than any other state with almost $20
billion in sales volume.
- Coldwell Banker reported 56 percent of its luxury sales
volume was in California.
- The top 13 cities with the highest total Coldwell Banker
sales volume were all in California.
- Los Angeles had the highest Coldwell Banker sales volume in
the United States.
- A $30 million home in Beverly Hills was the largest closed
transaction by a U.S. Coldwell Banker sales associate in 2004.
Elsewhere:
- Florida was second in the nation with $3 billion in Coldwell
Banker luxury home sales volume.
- Massachusetts, Illinois, Connecticut and New Jersey joined
California and Florida as the only states to produce more than $1
billion in Coldwell Banker luxury home sales volume.
- The fifth-highest closed sales price by a Coldwell Banker
sales associate in 2004 was a $19.8 million property in Miami Beach,
Fla. It was the only property sold outside of California in the top
20.
Hot Markets:
- In 2004, Nevada (172 percent increase), Idaho (143 percent) and
Pennsylvania (129 percent increase) had the highest percentage
increases in luxury home sales volume. All three states also closed
more than double the amount of Coldwell BankerŪ luxury
transactions than in 2003.
- According to Coldwell Banker figures, the top five hottest
cities in luxury home sales according to total sales volume increases
from 2003 to 2004 are:
- Irvine, Calif., increased 215 percent and is now ranked 50th in
total sales volume. Irvine rose 57 spots, the largest jump in the
report.
- Longboat Key, Fla., increased 150 percent and is now ranked 39th
in total sales volume. Longboat Key climbed 30 spots.
- Laguna Beach, Calif., climbed 139 percent and is now ranked
sixth in total sales volume. Laguna Beach rose 11 spots.
- Miami Beach, Fla., increased 138 percent and is now ranked 15th
in total sales volume. Miami Beach climbed 23 spots.
- Burlingame, Calif., rose 135 percent and is now ranked 60th in
total sales volume. Burlingame rose 35 spots.
2004 Luxury Market Overview:
- Coldwell Banker reported that it sold 19,859 luxury homes
priced between $1 million and less than $5 million. This was the most
active segment.
- The company also reported sales of more than 364 homes in the $5
million to less than $10 million segment.
- There were 68 transactions between $10 million and less than $30
llion, and one home sale for $30 million in 2004.
- The average sales price of Coldwell Banker homes sold
valued at $1 million and up was $ 1,748,550 in 2004.
TOP 30 STATES WITH THE MOST COLDWELL BANKER
LUXURY HOME SALES BY DOLLAR VOLUME
JANUARY 1 to DECEMBER 31, 2004
Source: Coldwell Banker Real Estate Corporation
 |
 |
State |
 |
2004 Rank |
 |
2004 Total
Sales Volume |
 |
2003 Rank |
 |
2003 Total
Sales Volume |
 |
% Change |
 |
 |
 |
California |
 |
1 |
 |
$19,958,968,283 |
 |
1 |
 |
$12,624,537,202 |
 |
58% |
 |
 |
| Florida |
2 |
$3,037,526,890 |
2 |
$2,008,970,243 |
51 % |
 |
| Massachusetts |
3 |
$1,997,908,899 |
3 |
$1,362,212,903 |
47 % |
 |
| Illinois |
4 |
$1,320,085,874 |
4 |
$990,207,302 |
33 % |
 |
| Connecticut |
5 |
$1,315,635,586 |
6 |
$839,105,004 |
57 % |
 |
| New Jersey |
6 |
$1,241,335,774 |
5 |
$928,679,672 |
34 % |
 |
| New York |
7 |
$865,705,111 |
7 |
$590,013,162 |
47 % |
 |
| Washington |
8 |
$684,680,735 |
9 |
$452,174,738 |
51 % |
 |
| Hawaii |
9 |
$646,087,234 |
8 |
$469,544,650 |
38 % |
 |
| Arizona |
10 |
$488,318,097 |
11 |
$353,281,162 |
35 % |
 |
| Minnesota |
11 |
$461,968,227 |
10 |
$383,829,356 |
20 % |
 |
| Maryland |
12 |
$461,144,933 |
14 |
$281,293,066 |
64 % |
 |
| Colorado |
13 |
$458,015,284 |
12 |
$328,691,851 |
39 % |
 |
| Texas |
14 |
$342,679,766 |
13 |
$295,643,904 |
16 % |
 |
| Washington, D.C. |
15 |
$305,380,626 |
15 |
$165,092,361 |
85 % |
 |
| Nevada |
16 |
$269,083,302 |
19 |
$98,865,413 |
172 % |
 |
| Virginia |
17 |
$241,875,526 |
16 |
$151,490,855 |
60 % |
 |
| Georgia |
18 |
$203,673,506 |
17 |
$148,937,252 |
37 % |
 |
| North Carolina |
19 |
$128,428,854 |
21 |
$66,146,882 |
94 % |
 |
| Pennsylvania |
20 |
$122,781,424 |
25 |
$53,556,245 |
129 % |
 |
| Missouri |
21 |
$117,413,248 |
18 |
$146,175,556 |
-20 % |
 |
| Michigan |
22 |
$94,875,080 |
20 |
$91,234,897 |
4 % |
 |
| Utah |
23 |
$76,319,866 |
24 |
$56,732,000 |
35 % |
 |
| Wisconsin |
24 |
$71,306,500 |
26 |
$51,302,025 |
39 % |
 |
| South Carolina |
25 |
$68,673,031 |
28 |
$38,403,750 |
79 % |
 |
| Ohio |
26 |
$68,080,882 |
23 |
$63,795,965 |
7 % |
 |
| Oregon |
27 |
$67,343,510 |
22 |
$64,997,589 |
4 % |
 |
| New Hampshire |
28 |
$52,415,275 |
27 |
$41,300,100 |
27 % |
 |
| Montana |
29 |
$42,459,000 |
30 |
$23,445,000 |
81 % |
 |
| Idaho |
30 |
$32,207,500 |
35 |
$13,270,000 |
143 % |
 |
TOP 75 CITIES WITH THE MOST COLDWELL BANKERŪ
LUXURY HOME SALES BY DOLLAR VOLUME
JANUARY 1 - DECEMBER 31, 2004
Source: Coldwell Banker Real Estate Corporation
 |
 |
City |
 |
State |
 |
2004 Rank |
 |
2004 Total
Sales Volume |
 |
2003 Rank |
 |
2003 Total
Sales Volume |
 |
% Change |
 |
 |
| Los Angeles |
CA |
1 |
$1,677,115,327 |
1 |
$1,074,478,632 |
56 % |
 |
| Beverly Hills |
CA |
2 |
$1,015,602,005 |
2 |
629,165,505 |
61 % |
 |
| San Francisco |
CA |
3 |
$859,196,439 |
3 |
578,436,162 |
49 % |
 |
| Newport Beach |
CA |
4 |
$821,168,950 |
5 |
434,603,408 |
89 % |
 |
| Malibu |
CA |
5 |
$669,607,770 |
4 |
577,596,506 |
16 % |
 |
| Laguna Beach |
CA |
6 |
$485,251,829 |
17 |
202,875,000 |
139 % |
 |
| Montecito |
CA |
7 |
$460,292,000 |
16 |
202,961,875 |
127 % |
 |
| Pacific Palisades |
CA |
8 |
$440,591,357 |
6 |
380,958,340 |
14 % |
 |
| Palo Alto |
CA |
9 |
$405,854,862 |
13 |
215,272,964 |
89 % |
 |
| Santa Monica |
CA |
10 |
$399,851,703 |
7 |
344,115,528 |
16 % |
 |
| Rancho Santa Fe |
CA |
11 |
$384,449,132 |
9 |
262,647,414 |
46 % |
 |
| Los Altos |
CA |
12 |
$379,779,485 |
8 |
316,882,213 |
20 % |
 |
| Los Gatos |
CA |
13 |
$375,387,112 |
21 |
178,722,350 |
52 % |
 |
| Boston |
MA |
14 |
$339,552,317 |
18 |
195,506,902 |
74 % |
 |
| Miami Beach |
FL |
15 |
$317,156,740 |
38 |
133,470,900 |
138 % |
 |
| Menlo Park |
CA |
16 |
$315,983,621 |
11 |
230,662,100 |
37 % |
 |
| Saratoga |
CA |
17 |
$314,393,174 |
12 |
223,383,264 |
40 % |
 |
| Washington |
DC |
18 |
$305,380,626 |
25 |
165,092,361 |
85 % |
 |
| Atherton |
CA |
19 |
$302,850,250 |
19 |
182,653,000 |
66 % |
 |
| Santa Barbara |
CA |
20 |
$284,939,717 |
10 |
261,851,600 |
9 % |
 |
| Honolulu |
HI |
21 |
$282,379,834 |
24 |
166,642,500 |
69 % |
 |
| Westport |
CT |
22 |
$276,719,388 |
22 |
172,362,750 |
59 % |
 |
| Newport Coast |
CA |
23 |
$273,362,844 |
30 |
153,445,230 |
78 % |
 |
| Chicago |
IL |
24 |
$266,560,442 |
20 |
179,605,100 |
48 % |
 |
| San Jose |
CA |
25 |
$249,121,123 |
47 |
121,718,350 |
105 % |
 |
| Carmel |
CA |
26 |
$241,921,495 |
36 |
137,166,500 |
76 % |
 |
| Calabasas |
CA |
27 |
$228,962,697 |
42 |
129,752,568 |
76 % |
 |
| Greenwich |
CT |
28 |
$220,041,958 |
31 |
153,175,150 |
44 % |
 |
| Corona Del Mar |
CA |
29 |
$218,027,260 |
50 |
116,993,855 |
86 % |
 |
| Wellesley |
MA |
30 |
$215,175,880 |
35 |
146,411,375 |
47 % |
 |
| Pasadena |
CA |
31 |
$214,895,808 |
29 |
157,747,400 |
36 % |
 |
| Fort Lauderdale |
FL |
32 |
$206,909,907 |
26 |
161,760,200 |
28 % |
 |
| Boca Raton |
FL |
33 |
$197,009,351 |
15 |
203,956,300 |
-3 % |
 |
| Los Altos Hills |
CA |
34 |
$196,328,072 |
32 |
150,813,670 |
30 % |
 |
| San Diego |
CA |
35 |
$184,715,270 |
54 |
103,661,400 |
78 % |
 |
| Naples |
FL |
36 |
$183,168,264 |
28 |
158,684,474 |
15 % |
 |
| La Jolla |
CA |
37 |
$183,095,068 |
40 |
131,524,250 |
39 % |
 |
| Woodside |
CA |
38 |
$180,494,000 |
14 |
211,513,000 |
-15 % |
 |
| Longboat Key |
FL |
39 |
$176,049,422 |
69 |
70,515,500 |
150 % |
 |
| Lake Forest |
IL |
40 |
$172,878,725 |
34 |
147,658,399 |
17 % |
 |
| Scottsdale |
AZ |
41 |
$168,171,371 |
48 |
121,702,545 |
38 % |
 |
| New York |
NY |
42 |
$165,161,540 |
52 |
112,058,800 |
47 % |
 |
| Pebble Beach |
CA |
43 |
$163,701,625 |
56 |
100,821,000 |
62 % |
 |
| Miami |
FL |
44 |
$161,944,115 |
41 |
131,017,935 |
24 % |
 |
| Weston |
MA |
45 |
$161,389,225 |
44 |
128,434,023 |
26 % |
 |
| Paradise Valley |
AZ |
46 |
$154,370,211 |
33 |
150,731,500 |
2 % |
 |
| Winnetka |
IL |
47 |
$153,772,050 |
39 |
132,197,428 |
16 % |
 |
| Portola Valley |
CA |
48 |
$150,805,750 |
43 |
129,497,444 |
16 % |
 |
| Mercer Island |
WA |
49 |
$147,994,430 |
73 |
67,679,626 |
119 % |
 |
| Irvine |
CA |
50 |
$141,547,542 |
107 |
44,926,125 |
215 % |
 |
| Del Mar |
CA |
51 |
$140,418,900 |
60 |
88,044,025 |
59 % |
 |
| San Marino |
CA |
52 |
$136,908,913 |
55 |
100,838,401 |
36 % |
 |
| Newton |
MA |
53 |
$128,951,715 |
53 |
106,346,105 |
21 % |
 |
| Hancock Park |
CA |
54 |
$127,805,950 |
59 |
88,619,320 |
44 % |
 |
| New Canaan |
CT |
55 |
$126,125,100 |
82 |
58,386,108 |
116 % |
 |
| Tarzana |
CA |
56 |
$124,026,700 |
92 |
53,592,500 |
131 % |
 |
| Dallas |
TX |
57 |
$122,649,105 |
27 |
160,189,437 |
-23 % |
 |
| Cupertino |
CA |
58 |
$122,343,225 |
93 |
52,434,588 |
133 % |
 |
| Coral Gables |
FL |
59 |
$121,874,750 |
57 |
100,699,500 |
21 % |
 |
| Burlingame |
CA |
60 |
$121,504,856 |
95 |
51,658,000 |
135 % |
 |
| Palos Verdes Estates |
CA |
61 |
$121,349,503 |
45 |
122,334,224 |
-1 % |
 |
| San Mateo |
CA |
62 |
$120,886,775 |
68 |
70,714,250 |
71 % |
 |
| Brentwood |
CA |
63 |
$119,197,835 |
23 |
170,199,032 |
-30 % |
 |
| Hillsborough |
CA |
64 |
$117,321,812 |
51 |
116,594,888 |
1 % |
 |
| Westlake Village |
CA |
65 |
$114,565,235 |
37 |
133,849,725 |
-14 % |
 |
| Mill Valley |
CA |
66 |
$113,647,794 |
61 |
84,009,250 |
35 % |
 |
| Rancho Palos Verdes |
CA |
67 |
$112,339,750 |
66 |
71,172,970 |
58 % |
 |
| Redwood City |
CA |
68 |
$112,039,391 |
88 |
56,995,440 |
97 % |
 |
| Sarasota |
FL |
69 |
$108,874,135 |
58 |
98,309,400 |
11 % |
 |
| Encino |
CA |
70 |
$105,866,250 |
49 |
119,380,500 |
-11 % |
 |
| Kihei |
HI |
71 |
$104,820,000 |
46 |
122,002,800 |
-14 % |
 |
| Annapolis |
MD |
72 |
$101,283,697 |
78 |
65,826,200 |
54 % |
 |
| Wilmette |
IL |
73 |
$100,955,000 |
75 |
67,129,000 |
50 % |
 |
| Sherman Oaks |
CA |
74 |
$97,058,240 |
110 |
43,356,000 |
124 % |
 |
| Granite Bay |
CA |
75 |
$96,843,959 |
81 |
59,727,631 |
62 % |
 |
TOP 50 PRICES PAID FOR INDIVIDUAL LUXURY HOMES
SOLD BY COLDWELL BANKER SALES ASSOCIATES
JANUARY 1 to DECEMBER 31, 2004
Source: Coldwell Banker Real Estate Corporation
 |
 |
2004 Rank |
 |
City |
 |
State |
 |
Selling Price |
 |
 |
| 1 |
Beverly Hills |
CA |
$30,000,000 |
 |
| 2 |
Pebble Beach |
CA |
$20,500,000 |
 |
| 3 |
Montecito |
CA |
$20,000,000 |
 |
| 4 |
Rancho Santa Fe |
CA |
$20,000,000 |
 |
| 5 |
Miami Beach |
FL |
$19,800,000 |
 |
| 6 |
Lompoc |
CA |
$17,800,000 |
 |
| 7 |
Los Altos Hills |
CA |
$17,500,000 |
 |
| 8 |
Los Angeles |
CA |
$17,500,000 |
 |
| 9 |
Beverly Hills |
CA |
$17,500,000 |
 |
| 10 |
Beverly Hills |
CA |
$16,750,000 |
 |
| 11 |
North Island |
CA |
$16,350,000 |
 |
| 12 |
Los Angeles |
CA |
$16,000,000 |
 |
| 13 |
Montecito |
CA |
$16,000,000 |
 |
| 14 |
Del Mar |
CA |
$15,750,000 |
 |
| 15 |
Bethel Island |
CA |
$15,725,000 |
 |
| 16 |
Beverly Hills |
CA |
$15,500,000 |
 |
| 17 |
Montecito |
CA |
$15,250,000 |
|