We demonstrate a technique for detecting magnetically-labeled Listeria monocytogenes and for measuring the binding rate between antibody-linked magnetic particles and bacteria. This assay, which is both sensitive and straightforward to perform, can quantify specific bacteria in a sample without the need to immobilize the bacteria or wash away unbound magnetic particles. In the measurement, we add 50 nm diameter superparamagnetic particles, coated with antibodies, to a liquid sample containing L. monocytogenes. We apply a pulsed magnetic field to align the magnetic dipole moments and use a high transition temperature Superconducting Quantum Interference Device (SQUID), an extremely sensitive detector of magnetic flux, to measure the magnetic relaxation signal when the field is turned off.