Mike Good, President and CEO of Sotheby’s International Realty Affiliates LLC, sent us this announcement Wednesday…

PARSIPPANY, N.J. and HONG KONG (April 7, 2010) – Sotheby’s International Realty Affiliates LLC today announced it has signed an exclusive 25-year master franchise agreement with Hong Kong Homes Holdings Limited to develop the Sotheby’s International Realty® brand throughout Hong Kong, with its first office set to open in July 2010. The firm will do business as Hong Kong Sotheby’s International Realty, with Samson Law serving as managing director. The new Hong Kong Sotheby’s International Realty offices will focus exclusively on serving luxury residential clientele.

Law previously established Hong Kong Homes in 1995 as Landscope Real Estate Services Ltd. Hong Kong Homes is a renowned real estate and property consulting business that specializes in the sales and leasing of luxury residential properties, prime offices, retail spaces and investment properties.

According to Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC, Hong Kong is a strategically important market for the brand and this signing represents a key step forward in its overall growth plans across Asia. “Samson Law is uniquely qualified to combine the best of western business practices with local knowledge and experience,” said Good. “Hong Kong Sotheby’s International Realty will be led by a seasoned executive team that has been operating in Hong Kong for more than a decade, and has the talent and expertise we are looking for to build this brand locally.”

“We strive to provide the very best service to our clients, and this is underlined by the significant attention and involvement we give to all our clients and services, both locally and regionally,” said Law. “Over the years, we have acquired an excellent reputation and a credible track record as a leading specialist in our chosen fields, and the Sotheby’s International Realty brand’s reputation as the world’s premium luxury property marketer is a perfect fit for this region.”

The Sotheby’s International Realty network currently has more than 10,600 sales associates located in approximately 500 offices in 38 countries and territories worldwide. Hong Kong Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global Web site. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.

Northwest Multiple Listing Service members tallied more than 52,000 single family home and condominium sales in 2009, about 3.7% fewer than 2008, for a combined sales value of more than $17 billion. This report reflects activity of members in 19 counties encompassing nearly eighty percent of the state’s population.

Although the number of sales nearly matched 2008 levels, the dollar volume of the sales fell by 14.6%. Brokers attribute the drop to lower selling prices and higher volume of short sales and foreclosures.

Among the 19 counties included in this report, San Juan claimed the highest median sales price for single family homes at $443,500. King County followed at $380,000. System-wide the median price last year was $280,000.

For condos the median selling price was $235,000, down 7.3% from 2008. King County accounted for 6 out of every 10 condo sales, selling for a median price of $254,000.

Other highlights in the Annual MLS Summary:

• More than 8 out of 10 transactions was a “co-op” sale; listed by one office and sold by another.
• Single family homes accounted for 87% of total sales.
• 802 sales of single family homes fetched $1 million or more. The MLS map area for Bellevue/west of I-405 had the highest volume of million-dollar plus sales (120 closed sales). The highest priced home sale in the MLS system for 2009 was $15,560,000 for a home on Mercer Island.
• Reported 66 sales of condos sold for $1 million or more, 392 condos sold for $500,000 or more. Highest priced condo sold last year was in downtown Seattle for $9,750,000.

Click here to see our 2-page spread in the latest Luxury Homes Magazine Seattle on pages 6 & 7.