Q3
2017
Table of Contents Letter from the President
Page 4
Regional Market Trends
Page 5
The Luxury Market
Page 8
San Francisco County
Page 12
San Mateo County
Page 16
Marin County
Page 18
Napa County
Page 20
Sonoma County
Page 22
Alameda County
Page 24
Contra Costa County
Page 26
Counties Represented
Napa Sonoma Marin Contra Costa San Francisco
Alameda
San Mateo
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 3 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Letter from the President
Charles Moore President and CEO
Predictable Stability Defines Bay Area Market in Q3 2017 The third quarter of the year tends to bring some of the slower months in terms of market activity for the Bay Area. While some of this is due to seasonal traveling, it’s also a common Bay Area trend that those choosing to relocate to a highly desired school district or kidfriendly neighborhood, make the move ahead of time in the spring. Naturally, this results in a healthy slowdown from the more robust pace of Q2. In recent years, however, we’ve seen minimal fluctuation in year-over-year trends affecting the Bay Area’s third-quarter marketplace. Restricted inventory and the Bay Area’s generally high demand persisted throughout the summer this time around, causing a continual rise in average sales prices year-over-year for most of the region. Of course, we didn’t see record-setting prices as we did in Q2, or as many double-digit percentage hikes that have become all too commonly associated with the Bay Area in recent quarters. But the region as a whole did experience a 9 percent jump in the overall average sales price from Q3 2016.
“Restricted inventory and the Bay Area’s generally high demand persisted throughout the summer this time around, causing a continual rise in average sales prices year-over-year for most of the region.”
A recent realtor.com article it explained that, “As the supply of homes for sale continues to decline year-overyear, homes are selling ever faster, and for ever-higher prices.” That’s definitely the case for what we continue to see here in the Bay Area. San Francisco, Mid-Peninsula, North Bay, and East Bay all posted the highest Q3 average sales prices since 2008 this quarter.
However, that doesn’t mean that certain markets didn’t experience a bevy of price reductions and increasing average days on market (DOM) during the summer doldrums. Buyers in San Mateo County benefited the most, at the expense of sellers who priced their properties a bit too confidently, in only paying 88 percent of the original list price for homes which did require a price reduction. Alternatively, in the East Bay, price-reduced homes in both Alameda and Contra Costa County still garnered 94 percent of the initial asking price. Unsurprisingly, it was San Francisco’s single-family home market which saw the largest profit margins from an environment where properties continue to sell over asking price. On average, homes in the city that sold in Q3 without any price changes, ended up selling for 19 percent more than what they hit the market for. As that steady competition and solid purchasing power continues to fuel San Francisco’s market—along with San Mateo and Marin County too—it’s the more affordable and suburban communities of Contra Costa and Sonoma County attracting these eager buyers. Both counties were the only two in the Bay Area to experience an increase in the total number of homes sold from Q2 to Q3 this year. While we saw lower sales volume tallies across all seven Bay Area counties that we serve, when compared to the activity in Q2 2017, most figures remained in line with what we experienced a year ago in Q3 2016. With current economic outlooks, we don’t anticipate any dramatic changes in either direction moving forward into Q4 and the end of the year.
Download the complete Quarterly Report at: mcguire.com/quarterly_report * Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 4 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Regional Market Trends After setting records for average sales prices in the second quarter, the housing market across all seven Bay Area counties that we serve, cooled off just slightly during the third quarter of this year. However, restricted inventory throughout the region along with high demand continues to keep an upward pressure on prices. The Bay Area’s overall average sales price reached $1,052,900 in Q3, up 9 percent from the $966,536 average in Q3 2016. In fact, average sales prices were up across the board this quarter, with each county seeing a year-over-year rise from the previous third quarter. The average Bay Area home sold after just 30 days on market (DOM) in Q3, moving at a slightly quicker pace than it did a year ago. The Mid-Peninsula led the way with the highest average sales price in Q3 2017 at $1.772 million, up 9 percent year-over-year. This marked the highest third-quarter average sales price for San Mateo County in the last 10 years. Sales volume was down 2 percent from the previous year with a total of 1,131 homes sold this quarter. The largest number of home sales occurred in the $1-2 million range which saw a 4 percent increase in activity from a year ago. The East Bay leads the way with the largest share of the market in Q3. Its 5,747 home sales cornered 60 percent of the market share by unit and its $4.9 billion home sales represents 49 percent of market share by volume. The average sales price in Q3 was the lowest regionally although its $868,875 posted price was the highest of any third quarter in the last 10 years and up 9.65 percent over Q3 2016’s $792,388. The largest number of sales in East Bay were in the $500-1 million range with 2,985 sales in Q3 up 1 percent from the 2,952 in Q3 2016. San Francisco home sales accounted for 6 percent of the Bay Area’s total number of units sold in Q3, and 9 percent of its overall volume at $936 million. The city’s average sales price this quarter was the second highest among all regions at $1.655 million, up 3 percent from Q3 2016’s $1.607 million average. Single-family homes priced in the $1-2 million range experienced the most activity with a total of 325 homes sold, an 18 percent increase from the previous year. At $1.008 million, the North Bay’s average sales price in Q3 2017 was also its best third-quarter average of the last 10 years, and was up 11 percent year-over-year. However, it’s worth noting that a $25 million closing took place in Calistoga this quarter, and therefore helped to drive up the region’s overall average. North Bay homes priced within the $500K-$1 million range experienced the most activity with 1,239 units sold in Q3. That figure was 8 percent higher than the previous year where a total of 1,144 units sold.
All REGIONS
$2,000
Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Quantity
Q3 2017
$1,052,900
30
$542
9,613
change
-6%
17%
-40%
-4%
Q2 2017
$1,115,975
26
$898
10,017
Q3 2017
$1,052,900
30
$542
9,613
change
9%
-5%
6%
0%
Q3 2016
$966,536
32
$510
9,640
Average Sales Price Five Years/Quarter (in thousands)
$1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 0 Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
East Bay
North Bay
Mid-Peninsula
San Francisco
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 5 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Regional Market Share The Bay Area netted $10.121 billion in total sales for the 9,613 total units sold this quarter. The East Bay led to 60 percent of all sales and 49 percent of sales volume. The North Bay accounted for 23 percent of market share by units and 22 percent of sales volume. The Mid-Peninsula contributed 12 percent of all sales and 20 percent of sales volume. San Francisco was responsible for 6 percent of all sales and 9 percent of sales volume.
6+12+6022A 9+20+4922A Market Share by Unit
Market Share by Volume
San Francisco 6%
San Francisco 9%
Mid-Peninsula 12%
Mid-Peninsula 20%
East Bay 60%
East Bay 49%
North Bay 23%
North Bay 22%
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 6 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Quantity Sold by Price Single-Family Homes North Bay: 2,169 Marin, Napa, Sonoma
East Bay: 5,747 Contra Costa, Alameda
San Francisco: 566
> $5,000,000 < $4,000,000
Mid-Peninsula: 1,131
< $3,000,000 < $2,000,000 < $1,000,000 > $1,000,000
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 7 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
The Luxury Market At $4.816 million, the Mid-Peninsula’s average luxury sales price was the highest of all Bay Area luxury markets this quarter—while still being down just a fraction from last year’s $4.83 million average. The 112 total number of luxury homes sold here in Q3 also fell by a 4 percent year-over-year comparison. Meanwhile, luxury homes in the Mid-Peninsula—defined as the top 10 percent of the marketplace—spent an average of 50 DOM before closing. That figure resulted in a pace that was 17 percent slower than a year prior. San Francisco’s luxury market continues to be a source of strength for the city’s housing market, even as the seasonal cool-down brought on by Q3’s summer months tends to have a larger impact here that other areas. This shift in seasonal activity could be felt by way of a 26 percent decline in average sales price from the previous quarter. At $4.072 million, San Francisco’s average luxury home price was also down 8 percent from Q3 2016. However, even with that said, the city still had the largest year-over-year gain in the total number of luxury homes sold in Q3 than any other luxury market in the Bay Area. The average 46 DOM here remained virtually unchanged from this time last year. The North Bay was home to the highest priced closing this quarter, where a nearly 24,000 square-foot estate on Briggs Ranch Road in Calistoga sold for $25 million. That high-priced deal also helped push the region’s average luxury sales price to $3.071 million this quarter, up 17 percent from $2.62 million in Q3 2016. A total of 220 luxury homes sold in the North Bay this quarter. And while top-tier properties here typically take longer to sell than anywhere else, given the vast and unique nature of Wine Country, Q3’s average 90 DOM was only 6 percent higher than the 85 DOM seen in Q3 2016. The East Bay’s luxury market may have had the lowest average sales price at $1.907 million, but it did however have the largest number of luxury homes sold in Q3. Its average sales price also saw an 8 percent gain from the previous year’s benchmark of $1.764 million. Similarly, the 574 total number of luxury homes sold this quarter demonstrated a 7 percent increase from the 554 homes sold in Q3 2016. Luxury homes in the East Bay sold faster than anywhere else in the Bay Area with a Q3 average of 32 DOM.
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 8 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
SAN FRANCISCO Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$4,072,375
58
46
$1,140
change
-26%
-8%
21%
-13%
Q2 2017
$5,506,756
63
38
$1,309
Q3 2017
$4,072,375
58
46
$1,140
change
-8%
9%
3%
-10%
Q3 2016
$4,426,912
53
45
$1,267
Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$4,816,518
112
50
$1,230
change
-3%
-15%
34%
-2%
Q2 2017
$4,961,545
131
37
$1,252
Q3 2017
$4,816,518
112
50
$1,230
change
0%
-4%
17%
6%
Q3 2016
$4,830,344
117
43
$1,157
Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$3,071,889
220
90
$883
change
0%
-2%
65%
-9%
Q2 2017
$3,061,600
224
54
$975
Q3 2017
$3,071,889
220
90
$883
change
17%
2%
6%
4%
Q3 2016
$2,620,227
215
85
$845
Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$1,907,525
574
32
$590
change
-4%
-2%
33%
-2%
Q2 2017
$1,988,369
586
24
$602
Q3 2017
$1,907,525
574
32
$590
change
8%
0%
7%
7%
Q3 2016
$1,764,863
576
30
$554
MID-PENINSULA
NORTH BAY
EAST BAY
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 9 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Bay Area Luxury Market Share The Mid-Peninsula held its stake as the luxury market leader again this quarter, with 40 percent of the sales volume and 37 percent of the units sold. East Bay accounted for 22 percent of sales volume and 27 percent of quantity sold. North Bay experienced 23 percent of sales volume and 21 percent of quantity sold. San Francisco made up 16 percent of the luxury marketâ&#x20AC;&#x2122;s sales volume and 15 percent of units sold. In total, the 978 luxury homes sold across the Bay Area in Q3 2017 amounted to $2.78 billion in sales.
8
16+40+22A 15+37+2721A
Market Share by Volume
Market Share by Unit
San Francisco 16%
San Francisco 15%
Mid-Peninsula 40%
Mid-Peninsula 37%
East Bay 22%
East Bay 27%
North Bay 23%
North Bay 21%
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 10 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Sales Trends Luxury Homes
Price Range As a Percent of Sales $0-$500K
$500K-$1M
$1M-$2M
Price Per Square Foot
$2M-$3M
$3M-$5M
> $1,000/sqft >= $1,000/sqft >= $900/sqft
$5M+
>= $700/sqft >= $500/sqft
San Francisco Single-Family Homes
Q3 2017 Q2 2017 Q3 2016
< $500/sqft
0%
20%
40%
60%
80%
100%
=220 +0 570 + 120 + 70 + 16+ =190 +0 550 + +16070 + 25+ =10290 + 500 + 120 + +6010+
22%
19%
1%
57%
29%
12%
55%
7%
16%
51%
7%
12%
6%
2%
3%
1%
Mid-Peninsula 0%
Q3 2017 Q2 2017 Q3 2016
20%
40%
60%
80%
100%
=230 +0 530 + 140 + 60 + 30+ =240 +0 520 + 150 + 60 + 20+ =325 +0 505 + 100 + 40+20+
23%
24%
32%
53%
14%
6%
3%
52%
15%
6%
3%
4%
2%
50%
10%
North Bay 0%
Q3 2017 Q2 2017 Q3 2016
20%
40%
60%
80%
100%
=140+560220 + 40+20++10 =140+510240 + 60 + 30+10+ =200+510200 + +5020+10+ 14%
14%
57%
4%
2% 1%
6%
3% 1%
22%
52%
23%
24%
53%
18%
4%
2% 1%
East Bay 0%
Q3 2017 Q2 2017 Q3 2016
20%
40%
60%
80%
100%
=200+510240 + 20+10+10+ =180500 + 290 + 30+ =260510 + 210 + 20+4+1 20%
52%
18%
50%
26%
26%
29%
51%
21%
2% .4% .03%
3%
1.5% .3% 0.03%
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 11 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
San Francisco County Single-Family Homes San Francisco’s market for single-family homes maintained its strong and steady status throughout the third quarter, with an average sales price that continues to grow and the trend of homes selling for way over asking. The city’s average sales price, at $1.655 million, was up 3 percent from last year’s $1.607 million benchmark in Q3 2016. This quarter also marked the highest average sales price for San Francisco homes during a third quarter in the last 10 years. A total of 566 single-family homes sold in the city in Q3, resulting in a 5 percent increase yearover-year. More notably, the average home here sold 23 percent quicker than it did just a year ago, spending an average of 26 DOM this quarter. The story in San Francisco has more or less stayed the same throughout the year—limited inventory available and continued high demand—buyers are making quick decisions and attractive offers in the hope of getting what they want.
SAN FRANCISCO - SFH Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$1,655,299
26
$907
change
-13%
0%
-2%
Q2 2017
$1,893,720
26
$928
Q3 2017
$1,655,299
26
$907
change
3%
-23%
6%
Q3 2016
$1,607,697
34
$854
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 12 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
6268+ 49+ 73+ 67+ 67+ 45+ 59+ 60+ 65+ 40+ 61+ 57+ 62+ 35+ 61+ 54+ 61+ 38+ 63+ 56+ Quantity Sold — Five Years/Quarter
700 600 500 400 300 200 100 0
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
$1,800 $1,700 $1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000 $900
52+6458+6865+6870+7770+7785+9075+8284+8880+9088+9586+ Average Sales Price Five Years/Quarter (in thousands)
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
Sellers aggressively tested the market’s ceiling this quarter and many came out on top, as those requiring no price change netted 19 percent above the initial list price—the highest upward change in the Bay Area. Sellers who tested the market were only able to recoup 91 percent of their original ask.
without price change
with price change
Q3 2017
Sales
19%
-9%
Q3 2016
13%
-8%
Average Sales Price by Neighborhood - The Top 10
Pacific Heights was home to six of the top 10 highest priced sales in San Francisco this quarter. However, the most expensive sale of Q3 was a $12-million home in Cow Hollow, pushing its average sales price to $5.012 million this quarter. Clarendon Heights had the greatest gain in average sales price, up 45 percent from Q3 2016.
Neighborhood
Q3 2017
Q3 2016
change
Pacific Heights
$5,975,222
$8,067,800
-26%
Cow Hollow
$5,012,550
$4,801,018
4%
Presidio Heights
$4,748,333
$8,616,667
-45%
Russian Hill
$3,330,000
n/a
n/a
Clarendon Heights
$3,250,000
$2,245,000
45%
Jordan Lake/Laurel Hghts $3,131,250
$2,733,333
15%
EurekaValley/DoloresHghts
$3,070,714
$2,417,396
27%
< $700/sqft
Sea Cliff
$3,062,500
$2,851,200
7%
< $500/sqft
Marina
$3,051,167
$3,456,568
-12%
Monterey Heights
$3,050,000
$2,662,500
15%
San Francisco Single-Family Home Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 13 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
San Francisco County Condominiums San Franciscoâ&#x20AC;&#x2122;s condominium market was steady in the third quarter with its $1.253 average sales price up 2 percent from the previous year. Q3 2017 also marked the 16th consecutive quarter in which San Francisco condo units have averaged more than $1 million. Similar to the cityâ&#x20AC;&#x2122;s housing market, it was also the highest third-quarter average sales price to take place in the last 10 years. However, at 508 total units sold this quarter, San Francisco experienced an 11 percent drop in year-over-year sales volume. This tighter inventory also led to units selling at a slightly quicker pace, spending an average of 37 DOM prior to close.
SAN FRANCISCO - CONDOMINIUMS Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$1,253,710
37
$1,069
change
-6%
9%
-1%
Q2 2017
$1,334,704
33
$1,077
Q3 2017
$1,253,710
37
$1,069
change
2%
-9%
2%
Q3 2016
$1,232,030
40
$1,043
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 14 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
6658+ 50+ 75+ 69+ 66+ 53+ 71+ 61+ 59+ 46+ 65+ 51+ 59+ 43+ 59+ 56+ 60+ 47+ 66+ 51+ Quantity Sold — Five Years/Quarter
700 600 500 400 300 200 100 0
41+ 46+ 50+4951+5258+5455+6162+6061+6263+62 +6367+61 Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
$1,300 $1,200 $1,100 $1,000 $900 $800 $700
Average Sales Price Five Years/Quarter (in thousands)
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
Those who required no price change in Q3 took home an additional 7 percent on top of initial listing price. While other sellers who may have tested the market too high, ended up losing 7 percent from their initial asking price.
Sales Q3 2017 Q3 2016
without price change
with price change
7%
-7%
6%
-8%
Average Sales Price by Neighborhood - The Top 10
A $7.1-million condo sale in Nob Hill helped boost the neighborhood’s average sales price to $1.72 million, an 18 percent increase from Q3 2016. Corona Heights experienced the largest year-over-year gain in average sales price at 52 percent, while Presidio Heights’ $1.9 million average topped the Q3 list.
Neighborhood
Q3 2017
Q3 2016
change
Presidio Heights
$1,900,000
$2,965,000
-36%
Jordan Lake/Laurel Hghts
$1,875,000
$3,600,000
-48%
Cow Hollow
$1,776,429
$1,605,000
11%
Marina
$1,731,400
$1,491,116
16%
Nob Hill
$1,720,900
$1,463,692
18%
Corona Heights
$1,696,429
$1,117,778
52%
Financial District
$1,632,025
$1,592,800
2%
< $700/sqft
Noe Valley
$1,563,692
$1,388,712
13%
< $500/sqft
Russian Hill
$1,479,206
$1,793,533
-18%
EurekaValley/DoloresHghts
$1,461,313
$1,352,006
8%
San Francisco Condominium Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 15 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
San Mateo County Single-Family Homes After setting a record average sales price in Q2 2017, some expected the Mid-Peninsula to cool down a bit during the summer months, but the county’s hot streak carried into Q3 instead. This quarter was the 11th consecutive quarter in which the Mid-Peninsula’s average sales price topped the $1.5 million mark. At $1.627 million, San Mateo County’s average price was not only 9 percent higher than it was in Q3 2016—but was also just 1 percent shy of Q2 2017’s record high at $1.797 million. Fewer homes sold in San Mateo County this quarter than compared to last year. Mid-Peninsula averaged 22 DOM for the 1,131 total homes sold in Q3.
SAN MATEO COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$1,772,515
22
$917
change
-1%
12%
2%
Q2 2017
$1,797,069
20
$903
Q3 2017
$1,772,515
22
$917
change
9%
-16%
12%
Q3 2016
$1,627,790
26
$816
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 16 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
5355+ 41+ 65+ 62+ 55+ 41+ 66+ 66+ 55+ 37+ 65+ 64+ 51+ 37+ 61+ 58+ 55+ 35+ 65+ 57+ Quantity Sold — Five Years/Quarter
1400 1200 1000 800 600 400 200 0
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
$1,800 $1,700 $1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000
52+56 5864+ 6562+ 7274+ 7170+ 7782+ 8078+ 7688+ 8183+ 7890+ 89 Average Sales Price Five Years/Quarter (in thousands)
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
For the sellers who priced accurately it paid off, as those requiring no price change netted 9 percent on top of their initial asking price. For those who tested what the market was willing to bear, they lost 12 percent from the initial list price, the biggest drop amongst all Bay Area counties. Sales Q3 2017 Q3 2016
without price change
with price change
9%
-12%
5%
-13%
Average Sales Price by City The Top 10
The Mid-Peninsula’s top sale was an $18.8 million estate in Woodside, which had an average sales price of $3.516 million. Atherton, with six of the top 10 highest sales for Q3, also took home the highest average at $6.27 million. Portola Valley’s $3.327 million average saw the largest gain, climbing 24 percent from Q3 2016.
City
Q3 2017
Q3 2016
change
Atherton
$6,270,060
$9,019,333
-30%
Hillsborough
$4,329,611
$4,953,484
-13%
Woodside
$3,516,323
$3,936,992
-11%
Portola Valley
$3,372,071
$2,726,179
24%
> $1000/sqft
Menlo Park
$2,866,699
$2,404,005
19%
< $1000/sqft
Burlingame
$2,271,684
$2,115,557
7%
San Carlos
$1,840,571
$1,767,031
4%
Foster City
$1,768,594
$1,609,676
10%
Millbrae
$1,688,396
$1,610,459
5%
Redwood City
$1,685,011
$1,472,658
14%
San Mateo County Single-Family Home Sales Price by Square Foot
< $900/sqft < $700/sqft < $500/sqft
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 17 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Marin County Single-Family Homes At $1.597 million, the average sales price for Marin County homes remained strong in Q3. This figure was up 12 percent from the previous yearâ&#x20AC;&#x2122;s benchmark of $1.431 million, and was also the countyâ&#x20AC;&#x2122;s third highest average recorded overall since 2008. The county saw a number of notably high-priced deals take place this quarter, resulting in all but one of its communities experiencing price gains for Q3. Larkspur was the only city to see its average sales price fall by 7 percent from Q3 2016. Coming off of the busier spring selling season, market activity in Marin County definitely slowed down a bit this quarter. The 557 total homes sold here was down 19 percent from Q2 2017, but actually rose 9 percent from the previous year. Marin County homes sold in an average of 55 DOM, moving 11 percent slower than last year.
MARIN COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$1,597,094
55
$667
change
-4%
43%
-7%
Q2 2017
$1,659,268
38
$719
Q3 2017
$1,597,094
55
$667
change
12%
11%
1%
Q3 2016
$1,431,607
49
$658
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 18 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
6766+ 59+ 42+ 77+ 70+ 55+ 42+ 76+ 61+ 52+ 37+ 70+ 62+ 51+ 31+ 67+ 50+ 48+ 33+ 69+ Quantity Sold — Five Years/Quarter
700 600 500 400 300 200 100 0
50+5253+6162+6070+6968+6971+75 +7670+8071+7278+8280 Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Average Sales Price Five Years/Quarter (in thousands)
$1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000 $900
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
Sellers pricing their properties well and requiring no price change, took home an additional 3 percent on their initial asking price. Those who deciding to take the alternative route only recouped 90 percent of their initial list price.
Sales Q3 2017 Q3 2016
without price change
with price change
3%
-10%
2%
-11%
Average Sales Price by City The Top 10
A $10.4-million home sale in Bolinas inflated its average sales price to $4.174 million this quarter, further explaining the 104 percent year-over-year gain. Ross had the highest average of all Marin communities at $4.256 million, while Belvedere’s $3.889 million average was 25 percent more than just a year ago.
City
Q3 2017
Q3 2016
change
Ross
$4,256,752
$3,876,333
10%
Bolinas
$4,174,983
$2,050,000
104%
Belvedere
$3,889,250
$3,123,273
25%
Tiburon
$3,410,417
$2,407,172
42%
Kentfield
$2,829,250
$2,531,156
12%
< $1000/sqft
Stinson Beach
$2,509,000
$1,526,110
64%
< $900/sqft
Nicasio
$2,283,333
$1,575,000
45%
Larkspur
$2,066,393
$2,219,515
-7%
Sausalito
$1,987,786
$1,819,917
9%
Greenbrae
$1,963,208
$1,461,327
34%
Marin County Single-Family Home Sales Price by Square Foot > $1000/sqft
< $700/sqft < $500/sqft
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 19 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Napa County Single-Family Homes Napa County’s average sales price of $959,542 continued to grow this quarter, making it the highest average recorded in a third quarter, and the second highest average overall since 2008. The North Bay was the only Bay Area region to actually see its average sales price go up from Q2 to Q3 this year. For Napa County, it was a 5 percent and 8 percent increase quarter-over-quarter and year-over-year, respectively. Napa remains a desirable alternative for those priced out of the seven-figure markets in San Francisco, Marin and San Mateo Counties. In all, Napa County had a total of 316 homes sold in Q3, a 14 percent drop from the previous year. The average home here spent an average of 73 DOM prior to close—a fairly standard pace for this time of year, given that it’s a more specific pool of buyers looking to purchase in Wine Country.
NAPA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$959,542
73
$450
change
5%
-4%
1%
Q2 2017
$914,645
75
$444
Q3 2017
$959,542
73
$450
change
8%
-6%
2%
Q3 2016
$887,718
77
$440
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 20 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
3836+ 26+ 36+ 37+ 31+ 21+ 34+ 30+ 27+ 25+ 35+ 35+ 27+ 23+ 34+ 37+ 31+ 26+ 34+ 31+ Quantity Sold — Five Years/Quarter
500 400 300 200 100 0
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Average Sales Price Five Years/Quarter (in thousands)
$900 $800 $700 $600 $500 $400
65+53 52+ 66+ 67+ 68+ 72+ 79+ 83+ 73+ 75+ 78+ 83+ 93+ 96+ 88+ 88+ 80+ 87+ 91+ 95+ Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
Sellers appeared to be a little too ambitious in Q3, as on average, even properties requiring no price change still lost 1 percent on original list price. Those testing the market even more only recovered 90 percent of their initial asking price. Sales
without price change
with price change
Q3 2017
-1%
-10%
Q3 2016
0%
-10%
Average Sales Price by City - The Top 10
Oakville had the largest closing with a $15-million home sale, therefore skewing the city’s average sales price for Q3 as it was the quarter’s only transaction. At $1.725 million, St. Helena was the more accurate Q3 leader in terms of average sales price. Highest year-over-year gains occurred in Angwin, which saw its average sales price rise 64 percent to $937,000.
City
Q3 2017
Q3 2016
change
Oakville
$15,000,000
n/a
n/a
St. Helena
$1,725,600
$1,982,248
-13%
Yountville
$1,582,500
$2,366,867
-33%
Calistoga
$1,579,685
$1,381,708
14%
Angwin
$937,000
$573,000
64%
< $1000/sqft
Napa
$870,615
$779,523
12%
< $900/sqft
American Canyon
$498,694
$489,045
2%
Pope Valley
n/a
$231,625
n/a
Rutherford
n/a
$3,938,000
n/a
Napa County Single-Family Home Sales Price by Square Foot > $1000/sqft
< $700/sqft < $500/sqft
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 21 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Sonoma County Single-Family Homes Sonoma County’s proved to be the most affordable region in the Bay Area this quarter—even as its average sales price grew 9 percent year-over-year to reach $766,737 in Q3. Much like its North Bay counterpart in Napa, Sonoma County was the only other area to see a quarter-over-quarter rise in average sales price, up 4 percent from Q2. A total of 1,296 homes sold here in Q3, making it the highest sales volume since Q2 2015. Sonoma County’s Q3 sales volume also outperformed its previous benchmarks set in Q2 2017 and Q3 2016, by 8 percent and 1 percent, respectively. This uptick in available inventory on the market also led to an uptick in demand, moving the average pace of a transaction to 56 DOM in Q3. This was 8 percent faster than just that of a year ago.
SONOMA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$766,737
56
$411
change
4%
11%
-1%
Q2 2017
$740,338
51
$414
Q3 2017
$766,737
56
$411
change
9%
-8%
4%
Q3 2016
$703,838
61
$395
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 22 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
7471+ 63+ 48+ 70+ 69+ 55+ 44+ 62+ 68+ 56+ 38+ 68+ 63+ 42+ 61+ 61+ 51+ 42+ 60+ 64+ Quantity Sold — Five Years/Quarter
1400 1200 1000 800 600 400 200 0
44+45 4746+ 5455+ 59+ 59+ 6059+ 66+ 6366+ 70+ 7274+ Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
$750 $700 $650 $600 $550 $500 $450 $400 $350
Average Sales Price Five Years/Quarter (in thousands)
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
Homes in Sonoma County that required no price change received 101 percent of the initial ask price. Meanwhile, properties priced too high and were hit with a price reduction, only recovered 92 percent of the original list price. without price change
with price change
Q3 2017
Sales
1%
-8%
Q3 2016
1%
-8%
Average Sales Price by City The Top 10
Glen Ellen saw the highest average sales price this quarter at $1.725 million, a 39 percent increase from the previous year. At $1.479 million, Geyserville took home the second highest average sales price, despite it being an 8 percent drop year-over-year.
City
Q3 2017
Q3 2016
change
Glen Ellen
$1,725,782
$1,244,000
39%
Geyserville
$1,479,500
$1,603,750
-8%
Stewarts Point
$1,365,000
n/a
n/a
Healdsburg
$1,310,889
$966,233
36%
Kenwood
$1,215,556
$1,602,688
-24%
< $1000/sqft
Bodega Bay
$1,030,765
$888,429
16%
< $900/sqft
Penngrove
$1,029,563
$878,818
17%
< $700/sqft
Sonoma
$1,013,091
$1,106,399
-8%
Occidental
$917,000
$812,000
13%
Sebastopol
$864,987
$906,522
-5%
Sonoma County Single-Family Home Sales Price by Square Foot > $1000/sqft
< $500/sqft
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 23 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Alameda County Single-Family Homes It’s no surprise that Alameda County remains extremely popular for homebuyers around the Bay Area who are either not interested or not willing to compete in the seven-figure markets of San Francisco, San Mateo, and Marin counties. This continues to be the case as Alameda County’s average sales price has stayed on a steady climb year-after-year. This quarter’s average sales price of $950,720 was not only a 10 percent hike over last year’s $863,702—but was also the highest Q3 average recorded in the last 10 years—and the second highest average overall since 2008. Q3 marked the 10th consecutive quarter where Alameda County’s average surpassed $800,000. In total, 2,724 homes sold here this quarter, down 3 percent from the previous year. Sellers also enjoyed the fastest turnaround times of all Bay Area counties, with properties averaging 20 DOM before closing. That pace was 3 percent faster than Q3 2016.
ALAMEDA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$950,720
20
$536
change
-3%
17%
-1%
Q2 2017
$980,507
17
$544
Q3 2017
$950,720
20
$536
change
10%
-3%
8%
Q3 2016
$863,702
21
$495
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 24 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
3000 2500 2000 1500 1000 500 0
7465+ 46+ 65+ 72+ 63+ 45+ 65+ 72+ 60+ 41+ 73+ 71+ 62+ 42+ 69+ 70+ 61+ 42+ 70+ 70+ Quantity Sold — Five Years/Quarter
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
$950 $900 $850 $800 $750 $700 $650 $600 $550 $500
54+ 5668+ 66+ +7975+7476+8682+8081+9186+8788+9895 Average Sales Price Five Years/Quarter (in thousands)
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
For sellers who priced right on the money, requiring no change on initial asking price, they received an additional 8 percent on profit. The East Bay was the safest place to test the market in Q3 as those with price reductions were still able to recover 94 percent of their original list price. Sales Q3 2017 Q3 2016
without price change
with price change
8%
-6%
8%
-6%
Average Sales Price by City - The Top 10
Piedmont was the only city in Alameda County to not see yearover-year gains in average sales price—but still had the most expensive home sale of Q3 at $5.14 million, and the highest average sales price for the county at $2.072 million.
City
Q3 2017
Q3 2016
change
Piedmont
$2,072,129
$2,327,746
-11%
Pleasanton
$1,339,487
$1,152,813
16%
Berkeley
$1,336,203
$1,225,838
9%
Fremont
$1,147,854
$1,014,241
13%
Albany
$1,107,677
$1,077,514
3%
Alameda
$1,090,571
$995,438
10%
Dublin
$1,059,935
$1,028,602
3%
Hayward
$972,058
$710,000
37%
< $700/sqft
Union City
$916,667
$783,940
17%
< $500/sqft
Livermore
$893,996
$820,387
9%
Alameda County Single-Family Home Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 25 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
Contra Costa County Single-Family Homes Much like Alameda County, Contra Costa County experienced notable strength throughout Q3 this year, which can otherwise be seen as a slower selling season despite the excessive heat of these summer months. But instead homebuyers are flocking to Contra Costa County for its affordability, lifestyle, infrastructure, and top-notch schools which has led to Q3 price gains felt in every community here. Contra Costa Countyâ&#x20AC;&#x2122;s $795,423 average sales price this quarter was 10 percent higher than just a year ago, and also the highest third-quarter average recorded since 2008. Sales volume only fell 1 percent from the typically busier second quarter, clocking in a total of 3,024 homes sold in Q3. This figure was also up 2 percent from the previous year. On average, homes in Contra Costa County sold after spending 24 DOM, moving at exactly the same pace as it did this time last year.
CONTRA COSTA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q3 2017
$795,423
24
$384
change
-5%
26%
-3%
Q2 2017
$836,979
19
$395
Q3 2017
$795,423
24
$384
change
10%
0%
8%
Q3 2016
$724,713
24
$356
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 26 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
3025+ 2027+ 2923+ 1827+ 2823+ 1830+ 25+ 2132+ 27+ 2030+ Quantity Sold — Five Years/Quarter
4000 3000 2000 1000 0
$800 $700 $600 $500 $400 $300
47+46 49+ 6261+ 5958+ 6968+ 6364+ 7471+ 6669+ 7772+ 7172+ 8480+ Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Average Sales Price Five Years/Quarter (in thousands)
Q3’12 Q4‘12 Q1‘13 Q2‘13 Q3‘13 Q4‘13 Q1‘14 Q2‘14 Q3‘14 Q4‘14 Q1‘15 Q2‘15 Q3‘15 Q4‘15 Q1‘16 Q2‘16 Q3‘16 Q4‘16 Q1‘17 Q2‘17 Q3‘17
Sales Price Change
Properties requiring no price change in Contra Costa County this quarter took home 4 percent on top of initial list price. For those that did receive price reductions, sellers were still able to recover 94 percent of their original asking price.
Sales
without price change
with price change
Q3 2017
4%
-6%
Q3 2016
3%
-7%
Average Sales Price by City - The Top 10
Diablo led the way in Q3 with an average sales price of $2.78 million, up 22 percent from Q3 2016. El Cerrito’s 16 percent increase in average sales price pushed it up to $906,070 this quarter, while Walnut Creek’s$1.158 million average grew 11 percent year-over-year.
City
Q3 2017
Q3 2016
change
Diablo
$2,780,500
$2,270,000
22%
Alamo
$1,863,537
$1,773,302
5%
Lafayette
$1,713,249
$1,570,614
9%
Orinda
$1,601,869
$1,558,244
3%
Danville
$1,440,793
$1,370,578
5%
Moraga
$1,386,634
$1,210,523
15%
Kensington
$1,239,647
$1,131,125
10%
< $700/sqft
San Ramon
$1,182,762
$1,094,181
8%
< $500/sqft
Walnut Creek
$1,157,845
$1,047,799
11%
$906,070
$779,608
16%
Contra Costa County Single-Family Home Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft
El Cerrito
* Data is sourced from the San Francisco Multiple Listing Service, the East Bay Region District Listing Service, Bay Area Real Estate Information Services, and MLS Listings (MLS). MLS data is provided by individual listing brokerages. These are sources we deem reliable. We have no reason to doubt their accuracy, but we do not guarantee them. Past performance does not guarantee future performance
Page 27 | McGuire Real Estate Quarterly Report - 3rd Quarter 2017
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