Industry News

Coldwell Banker posts gains in luxury real estate

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Coldwell Banker Real Estate Corp. today announced its affiliates sold 13,816 luxury homes priced more than $1 million during 2003, an increase of 24 percent from 2002. In addition, Coldwell Banker's luxury-home sales volume surged 23 percent to $23.3 billion, compared to the $18.9 billion mark set in 2002. Coldwell Banker reported that California continues to dominate the country in luxury-home sales, with six times more sales in this category than any other state. California total luxury-home sales topped $12.6 billion and also claimed the highest luxury homes transaction conducted by a Coldwell Banker sales associate for 2003–$22.66 million for a home in Malibu. Florida had the second largest luxury-home volume activity with more than $2 billion. In 2003, the most active segment of luxury homes was in the $1 million to $5 million range. Coldwell Banker sold more than 13,000 homes in this price range. In addition, the company reported sales of more than 200 homes in the $...