Sereno Group posted $387,000,000 in home sales volume during the first quarter of 2013, a 55% year over year increase from 2012. Even with the increased volume, the company’s average sale price remained at approximately $1,000,000, further signs of the Bay Area market’s continued recovery.
“Sales activity has been incredible during the first part of this year,” said Chris Trapani, CEO of Sereno Group, “We are seeing continued lack of inventory throughout the entire Bay Area, with most marketplaces having less than one month of available inventory. We are seeing multiple offers in all price ranges, including those listed above $3,000,000. “
Sereno Group’s nearly 400 first quarter sales included 62 properties selling above $1,000,000, with a high sale of $4,175,000 for a home in Palo Alto. Trapani projects the company will close an estimated $2.3 billion by end of year 2013, a significant increase from $1 billion in 2011 and the $1.8 billion in closed production in 2012.
About Sereno Group Real Estate
Open since July 1, 2006, Sereno Group Real Estate has quickly established itself as a market leader by continually attracting top producing agents in the Silicon Valley. During this time, Sereno Group has achieved the highest per agent productivity for residential real estate brokers in the county. In 2011, Sereno Group ranked as the #7 brokerage in the United States for per agent closed sales volume in Real Trend’s annual national brokerage rankings report. The company, which has been ranked the #1 Best Place to Work in the Bay Area for three years in a row, now has six offices located in Los Gatos, Saratoga, Los Altos, Santa Cruz, and Palo Alto and Willow Glen. The 220 agents of Sereno Group sell and serve the Santa Clara, San Mateo and Santa Cruz Counties and points beyond.