Industry News

Coldwell Banker reports record year in luxury real estate

Los Angeles has highest volume of sales above $1 million

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

Coldwell Banker today announced that its 2005 total sales volume of U.S. and Puerto Rico homes valued at $1 million or more hit a record high of $55.9 billion, up 24 percent from a previous record of $45.2 billion set in 2004. Coldwell Banker-affiliated companies nationwide participated in more than 31,000 luxury transaction sides in 2005. There are two sides to every real estate transaction: a buy side and a sell side. The average sales price for luxury-home transactions listed and/or sold by Coldwell Banker affiliated companies in 2005 was $1.79 million, according to the announcement. Among the findings in the latest annual Coldwell Banker Luxury Home Sales Report: In California, the Coldwell Banker organization reported more than six times more sales volume of luxury homes than any other state, at almost $31 billion, representing 55 percent of all Coldwell Banker luxury sales. The top eight cities with the highest total Coldwell Banker luxury-home sales volume were all in Cali...