Q1
2018
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 - 1st Quarter 2018
Letter from the President
Charles Moore President and CEO
No Cooling Effect for Bay Area Home Prices in Q1 2018 For anyone who thought that Q1’s winter months may have had a cooling effect on housing prices in the Bay Area, now is the time to think again. The average sales price rose year-over-year in all seven counties this quarter — with the Mid-Peninsula, San Francisco, and North Bay posting 10-year record highs in terms of price point. At $1.074 million, the Bay Area’s overall regional average sales price was a 10 percent “Continued high demand, low inventory gain over last year’s first quarter average.
levels, and strong economic conditions for
The narrative hasn’t changed all that much from last year as continued high demand, low inventory levels, and strong economic conditions for the the region continues to push prices up in region continues to push prices up in several markets. Furthermore, the uncertainty we saw last year prior to the new tax plan being passed started several markets.” to lessen as 2018 got underway, with sellers having a better understanding of what to expect under the current tax scenario and feeling more confident in the market. In March the Mercury News published an article with the headline, “Bay Area job market ‘defies gravity,’ economists say,” in response to a presentation given by William Yu and Jerry Nickelsburg of the UCLA Anderson Forecast. “The Bay Area job market will outperform the nation during 2018, but skyrocketing housing prices might imperil the region’s economy,” said Yu and Nickelsburg. A total of 6,466 homes sold in the Bay Area during Q1 2018, up 3 percent from Q1 2017 and down 30 percent from Q4 2017. Seeing such a large drop in quarter-over-quarter sales volume between the end of one year and the start of the next however isn’t all that uncommon in the Bay Area given that Q1 tends to be reflective of what went into contract in November and December. As we move into Q2’s busier spring selling season, we anticipate more activity in the upper-end of the luxury market for San Francisco and the Mid-Peninsula. In San Francisco for example, where the luxury floor is at $5 million, there’s very little inventory available in the $5-8 million range and therefore may entice buyers in that category to consider properties at the $10-15 million mark if it means finding a home that offers everything they’re looking for. The economic growth of the Bay Area is expected to remain on course with current trends as we get closer to the halfway mark of 2018 — and in turn will likely continue to drive high buyer demand, absorption rates, and prices for a very active spring market.
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 - 1st Quarter 2018
Regional Market Trends The Bay Area’s housing market remained strong throughout all seven counties that we serve during the first quarter of the year. While each county had slight dips in sales volume from the previous quarter, the overall total number of homes sold for the collective Bay Area went up 3 percent year-over-year. Three of the four regions experienced significant jumps in average sales price — pushing the regional average to $1.074 million in Q1 2018 — up 10 percent from last year. Historically low unemployment rates, supported by a healthy and high-earning job market, continues to push the demand for housing to new heights in several parts of the region. On average, homes across the Bay Area sold at an average rate of 30 DOM, moving 22 percent faster than this time last year. The Mid-Peninsula’s $1.924 million average sales price this quarter was up 23 percent from last year’s $1.569 million, resulting in the largest year-over-year gain regionally. San Mateo County had 769 transactions this quarter, the Bay Area’s second-lowest sales volume in Q1. Homes in the $1-2 million range accounted for 55 percent of all Mid-Peninsula sales this quarter with 426 homes sold. San Francisco’s single-family home market set the highest average sales price for the Bay Area at $1.961 million. In addition to growing 11 percent from last year, the city’s first-quarter average was also 2 percent more than the previous record set in Q4 2017. A total of 388 single-family homes and 527 condominiums sold in Q1, up 2 percent and 12 percent, respectively from Q1 2017. Similar to the MidPeninsula, 54 percent of the city’s transactions occurred in the $1-2 million range this quarter. The North Bay’s $1.056 million average sales price this quarter rose 10 percent from Q1 2017 and 6 percent from Q4 2017, making it the highest recorded figure for the region in the last 10 years. In both Napa and Sonoma County, the average sales price grew 14 percent from last year to reach $994,214 and $842,262, respectively. Marin County’s $1.637 million average this quarter was the county’s secondhighest average ever recorded, falling just shy of the $1.659 million set in Q2 2017. The East Bay posted an average sales price of $819,909 this quarter, up 3 percent from Q1 2017, and down just slightly less than2 percent from Q4 2017. The East Bay continued to have largest sales volume of all four regions this quarter, seeing a total of 3,827 homes sold and staying in line with last year’s trends. Both Alameda and Contra Costa County saw most of its sales activity take place within the $500K-$1 million range, accounting for 51 percent of all homes sold in the East Bay in Q1 2018.
All REGIONS
$2,000
Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Quantity
Q1 2018
$1,074,089
30
$672
6,466
change
0%
-6%
19%
-30%
Q4 2017
$1,070,938
32
$565
9,261
Q1 2018
$1,074,089
30
$672
6,466
change
10%
-22%
30%
3%
Q1 2017
$978,609
38
$518
6,260
Average Sales Price Five Years/Quarter (in thousands)
$1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 0 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 Q4‘17 Q1‘18
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 - 1st Quarter 2018
Regional Market Share The Bay Area netted $6.945 billion in total sales this quarter for its 6,466 units sold. The East Bay had the largest market share of all four regions at 59 percent by unit and 45 percent by volume. The North Bay followed with market share by unit and volume both at 23 percent. The Mid-Peninsula accounted for 12 percent of all units sold and 21 percent by volume. San Francisco represented 6 percent by unit and 11 percent by volume.
6+12+5923A 11+21+4523A Market Share by Unit
Market Share by Volume
San Francisco 6%
San Francisco 11%
Mid-Peninsula 12%
Mid-Peninsula 21%
East Bay 59%
East Bay 45%
North Bay 23%
North Bay 23%
* 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 - 1st Quarter 2018
Quantity Sold by Price Single-Family Homes North Bay: 1,482 Marin, Napa, Sonoma
East Bay: 3,827 Contra Costa, Alameda
San Francisco: 388
> $5,000,000 < $4,000,000
Mid-Peninsula: 769
< $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 - 1st Quarter 2018
The Luxury Market The luxury market, defined as the top 10 percent of all sales in an area, had the most notable year-over-year gain in the Mid-Peninsula this quarter. The average luxury home in San Mateo County sold for $5.05 million, for a 28 percent increase from Q1 2017 and 12 percent rise from Q4 2017. While there were six closings that took place within the $10-15 million range, the Mid-Peninsula’s ultra-prime market was fairly quiet this quarter with no sales activity happening at or above $20 million. A total of 78 luxury homes sold in San Mateo County in Q1 2018, up 10 percent from the 71 sold in Q1 2017, and down 31 percent from the 113 sold in Q4 2017. On average, it took an average of 36 DOM before properties in this upper-end of the market went into contract, moving 15 percent faster than this time last year. San Francisco continued to lead the way in the Bay Area’s luxury marketplace in terms of average sales price, at $5.069 million this quarter. The city’s luxury average did see a 5 percent decline from Q4 2017 but rose 6 percent from last year’s average of $4.769 million. Similar to the Mid-Peninsula, San Francisco had no sales in the ultra-prime market ($20 million and above) as it has in previous quarters, seeing only one transaction top the $10 million mark in Q1 2018. The luxury market in San Francisco also had fewer closings take place than the previous year and quarter. Only 38 properties sold in this top-tier of the market in Q1 2018, down 16 percent from Q1 2017 and 38 percent from Q4 2017. However, the average turn-around time for luxury homes did speed up 12 percent year-over-year to 30 DOM — an indication that with fewer properties available within this sector, those actively looking were prepared to move quickly in order to secure their ideal property. The North Bay saw its average sales price in the luxury sector reached $3.15 million in Q1 2018. With two properties selling for more than $10 million this quarter, the region’s average was able to climb 15 percent above the previous quarter and 8 percent above the previous year. A total of 148 luxury homes sold in the North Bay during the first quarter of the year, up 6 percent from last year. The unique nature of the North Bay’s upper-end market tends to see homes taking longer to sell than the rest of the Bay Area and this quarter continued that performance trend. The average luxury home here sold after spending 81 DOM, which was, however, a 27 percent faster pace than what occurred last year. The East Bay’s luxury market had 385 total homes sold this quarter, the most of any region, and was up a slight 2 percent from the previous year. However, at $1.884 million in average sales price, it continues to be the most affordable luxury market in the Bay Area. The East Bay’s average luxury price point increased 4 percent from Q1 2017 but was down 2 percent from Q4 2017. Luxury homes sold here after an average of 31 DOM during the first quarter, speeding up the turn-around time up by 35 percent from the previous year and 11 percent from the previous quarter. * 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 - 1st Quarter 2018
SAN FRANCISCO Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$5,069,658
38
30
$1,167
change
-5%
-38%
-3%
-12%
Q4 2017
$5,334,098
61
31
$1,327
Q1 2018
$5,069,658
38
30
$1,167
change
6%
-16%
-12%
0%
Q1 2017
$4,769,467
45
34
$1,164
Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$5,050,988
78
36
$1,322
change
12%
-31%
-5%
5%
Q4 2017
$4,489,978
113
38
$1,261
Q1 2018
$5,050,988
78
36
$1,322
change
28%
10%
15%
12%
Q1 2017
$3,948,458
71
31
$1,178
Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$3,150,393
148
81
$902
change
15%
-34%
-2%
1%
Q4 2017
$2,729,532
224
83
$892
Q1 2018
$3,150,393
148
81
$902
change
8%
6%
-27%
6%
Q1 2017
$2,903,692
140
111
$855
Average Sales Price
Quantity
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$1,884,700
385
31
$608
change
-2%
-27%
-11%
1%
Q4 2017
$1,913,478
531
35
$602
Q1 2018
$1,884,700
385
31
$608
change
4%
2%
-35%
7%
Q1 2017
$1,807,935
376
48
$568
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 - 1st Quarter 2018
Bay Area Luxury Market Share The largest portion of the Bay Areaâ&#x20AC;&#x2122;s luxury market share belonged to the Mid-Peninsula at 40 percent by both unit and volume ($807 million). San Francisco accounted for 22 percent of units sold as well as 22 percent by volume ($445 million). The North Bay represented 20 percent by unit and 22 percent by volume ($438 million). The East Bay had 18 percent by unit and 15 percent by volume ($306 million). In all, there were 667 luxury homes sold across the Bay Areaâ&#x20AC;&#x2122;s seven counties, accounting for a total of $1.997 billion in sales.
22+40+1820A 22+40+2215A Market Share by Unit
Market Share by Volume
San Francisco 22%
San Francisco 22%
Mid-Peninsula 40%
Mid-Peninsula 40%
East Bay 18%
East Bay 15%
North Bay 20%
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 10 | McGuire Real Estate Quarterly Report - 1st Quarter 2018
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
Q1 2018 Q4 2018 Q4 2017
< $500/sqft
0%
20%
40%
60%
80%
100%
=150 +0 540 + 190 + 90 + 30+ =160 +0 570 + 150 + 80 + 30+ =290 +0 460 + 130 + 90 + 30+
15%
54%
16%
19%
29%
57%
46%
9%
3%
15%
8%
3%
13%
9%
3%
Mid-Peninsula 0%
Q1 2018 Q4 2018 Q4 2017
20%
40%
60%
80%
100%
=140 +0 550 + 190 + 80 + 30+ =210 +0 520 + 170 + 80 + 20+ =10350 + 440 + 120 + 60 + 20+ 14%
55%
21%
1%
35%
19%
52%
8%
17%
44%
8%
12%
6%
3%
2%
2%
North Bay 0%
Q1 2018 Q4 2018 Q4 2017
20%
40%
60%
80%
100%
=100580 + 240 + 40+25+15+ =130560 + 240 + 40+30+10+ =190550 + 190 + 40+20+10+ 10%
58%
13%
56%
24% 4%
19%
55%
3% 1%
24% 4%
3% 1%
19% 4%
2% 1%
East Bay 0%
Q1 2018 Q4 2018 Q4 2017
20%
40%
60%
80%
100%
=200510 + 260 + 20+10+3 =200520 + 250 + 25+10+5 =270490 + 190 + 25+10+5 20%
51%
20%
52%
27%
49%
26%
2% .5% .03%
25%
3% .5% .04%
21%
2% .5% .05%
* 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 - 1st Quarter 2018
San Francisco County Single-Family Homes This was the second time in market history that San Francisco’s average sales price for single-family homes topped the $1.9 million mark — surpassing the previous 10-year record high set three months earlier in Q4 2017. At $1.961 million, the city’s average sales price for the first quarter was an 11 percent increase from the $1.761 million posted a year ago. San Francisco had a total of 388 homes sold this quarter, basically mirroring last year’s first quarter sales volume trends. But in comparison to the previous quarter, this figure was a 37 percent drop from the 616 homes sold in Q4 2017. San Francisco’s steady economic outlook and widespread purchasing power continue to elevate the single-family home market in nearly all parts of the city. The average home sold after 25 DOM, moving 10 days faster than Q1 2017.
SAN FRANCISCO - SFH Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$1,961,983
25
$985
change
2%
-1%
2%
Q4 2017
$1,921,968
25
$966
Q1 2018
$1,961,983
25
$985
change
11%
-30%
12%
Q1 2017
$1,761,226
35
$877
* 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 - 1st Quarter 2018
4973+ 67+ 67+ 45+ 59+ 60+ 65+ 40+ 61+ 57+ 62+ 35+ 61+ 54+ 61+ 38+ 63+ 56+ 61+ 40+ Quantity Sold — Five Years/Quarter
700 600 500 400 300 200 100 0
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 Q4‘17 Q1‘18
$2,000 S1,900 $1,800 $1,700 $1,600 $1,500 $1,400 $1,300 $1,200 $1,100
Average Sales Price Five Years/Quarter (in thousands)
58+6865+6870+7770+7785+9075+8284+8880+9088+9584+9698 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 Q4‘17 Q1‘18
Sales Price Change
San Francisco homes that required no price change had the largest profit margins of all Bay Area markets, and on average, sold 18 percent over asking. Alternatively, those with price reductions sold for 8 percent less than the original list price. Sales Q1 2018 Q1 2017
without price change
with price change
18%
-8%
14
-11%
%
Average Sales Price by Neighborhood - The Top 10
Lake Street’s average home sales price went up 65 percent year-over-year, selling for an average of $4.095 million in Q1 2018. Glen Park and Corona Heights average sales prices increased by 58 percent and 48 percent, respectively, coming in at $2.624 million and $3.1 million this quarter.
Neighborhood
Q1 2018
Q1 2017
change
Presidio Heights
$6,244,333
$8,332,500
-25%
Pacific Heights
$5,667,083
$5,440,833
4%
Russian Hill
$5,108,333
$5,243,333
-3%
Cow Hollow
$4,828,000
$3,600,000
34%
Lake Street
$4,095,000
$2,483,875
65%
Ashbury Heights
$4,080,000
N/A
N/A
< $900/sqft
Anza Vista
$4,000,000
N/A
N/A
< $700/sqft
Marina
$3,913,625
$3,260,000
20%
Corona Heights
$3,100,000
$2,092,800
48%
Cole Valley
$2,945,000
N/A
N/A
San Francisco Single-Family Home Sales Price by Square Foot > $1000/sqft < $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 13 | McGuire Real Estate Quarterly Report - 1st Quarter 2018
San Francisco County Condominiums San Francisco’s condominium sector was steadily in line with the market strength and success it’s seen over the course of the last year. The city’s average sales price for a condo was at $1.316 million this quarter, only a 1 percent change up and down from the previous year and quarter, respectively. With 527 units sold this quarter, San Francisco’s condominium sales volume was up 12 percent year-over-year. However, this figure was also a noticeable 22 percent drop from the 675 units sold in Q4 2017. The average turn-around time for a condo to sell in the city was at 34 DOM in Q1 2018, moving at the same rate as last quarter, and 11 percent faster than last year. Condominiums in the $1-2 million price category resulted in 48 percent of all sales, or 252 units sold, this quarter.
SAN FRANCISCO - CONDOMINIUMS Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$1,316,160
34
$1,121
change
-1%
-1%
5%
Q4 2017
$1,328,369
34
$1,069
Q1 2018
$1,316,160
34
$1,121
change
1%
-11%
8%
Q1 2017
$1,299,971
38
$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 - 1st Quarter 2018
5075+ 69+ 66+ 53+ 71+ 61+ 59+ 46+ 65+ 51+ 59+ 43+ 59+ 56+ 60+ 47+ 66+ 51+ 67+ 52+ Quantity Sold — Five Years/Quarter
700 600 500 400 300 200 100 0
46+ 50+4951+5258+5455+6162+6061+6263+62 +6367+6166+65 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 Q4‘17 Q1‘18
$1,400 $1,300 $1,200 $1,100 $1,000 $900 $800
Average Sales Price Five Years/Quarter (in thousands)
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 Q4‘17 Q1‘18
Sales Price Change
San Francisco condos that required no price change in Q1, on average, sold for 6 percent over the asking price. Sellers whose units required a price reduction were able to recoup 92 percent of their original list price. Sales Q1 2018 Q1 2017
without price change
with price change
%
6
-8%
5%
-7%
Average Sales Price by Neighborhood - The Top 10
The average sales price for a condo in the Central Richmond sold for $1.7 million this quarter, up 76 percent from last year’s $964,000. In Haight Ashbury and Cow Hollow, condo averages rose 35 percent and 23 percent, respectively, reaching $1.708 million and $1.688 million this quarter.
Neighborhood
Q1 2018
Q1 2017
change
Presidio Heights
$2,325,833
$2,137,500
9%
Pacific Heights
$1,902,871
$1,767,253
8%
Cole Valley
$1,775,000
N/A
N/A
Telegraph Hill
$1,774,250
$1,229,000
44%
Corona Heights
$1,772,500
$1,470,400
21%
< $1000/sqft
Haight Ashbury
$1,708,333
$1,268,884
35%
< $900/sqft
Central Richmond
$1,700,000
$964,000
76%
Jordan Park
$1,698,750
N/A
N/A
Cow Hollow
$1,688,143
$1,372,818
23%
Russian Hill
$1,675,467
$2,649,306
-37%
San Francisco Condominium 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 15 | McGuire Real Estate Quarterly Report - 1st Quarter 2018
San Mateo County Single-Family Homes The Mid-Peninsulaâ&#x20AC;&#x2122;s average sales price reached $1.924 million this quarter, setting a new 10-year record high for the area. San Mateo Countyâ&#x20AC;&#x2122;s average price point rose 23 percent from the previous year, 8 percent from the previous quarter, and 7 percent from the previous record of $1.797 million set in Q2 2017. The Mid-Peninsula had a total of 769 homes sold this quarter. While this figure was an 8 percent increase from Q1 2017 it also resulted in a 32 percent drop from Q4 2017. San Mateo County saw faster turn-around times this quarter than it has in a while. Homes sold on average after just 19 DOM, moving along 26 percent faster than the year before, and 10 percent quicker than Q4 2017. The $1-2 million price category accounted for 55 percent of all homes sold in the Mid-Peninsula for Q1 2018.
SAN MATEO COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$1,924,595
19
$983
change
8%
-10%
6%
Q4 2017
$1,788,366
21
$929
Q1 2018
$1,924,595
19
$983
change
23%
-26%
17%
Q1 2017
$1,569,038
26
$841
* 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 - 1st Quarter 2018
4165+ 62+ 55+ 41+ 66+ 66+ 55+ 37+ 65+ 64+ 51+ 37+ 61+ 58+ 55+ 35+ 65+ 57+ 57+ 39+ Quantity Sold — Five Years/Quarter
1400 1200 1000 800 600 400 200 0
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 Q4‘17 Q1‘18
$1,800 $1,700 $1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000
64+58 6562+ 7274+ 7170+ 7782+ 8078+ 7688+ 8183+ 7890+ 89+ 91 Average Sales Price Five Years/Quarter (in thousands)
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 Q4‘17 Q1‘18
Sales Price Change
Properties that required no price change netted 13 percent on top of the initial asking price. Alternatively, price reductions were felt the hardest in the Mid-Peninsula, selling for 13 percent under the original list price. Sales Q1 2018 Q1 2017
without price change
with price change
13
-13%
9
-11%
%
%
Average Sales Price by City The Top 10
Atherton topped the list with an average sales price of $7.73 million in Q1, a 34 percent jump year-over-year. Hillsborough posted a $6.199 million average sales price, up 38 percent over the $4.482 million in Q1 2017.
City
Q1 2018
Q1 2017
change
Atherton
$7,728,667
$5,776,429
34%
Hillsborough
$6,199,146
$4,482,873
38%
Portola Valley
$3,565,750
$3,518,890
1%
Woodside
$3,398,846
$3,065,965
11%
Menlo Park
$3,114,944
$2,579,969
21%
> $1000/sqft
Burlingame
$2,548,625
$2,250,435
13%
< $1000/sqft
Redwood Shores
$2,140,000
$1,836,310
17%
San Carlos
$2,062,650
$1,898,490
9%
Foster City
$2,051,750
$1,784,231
15%
Belmont
$1,976,264
$1,701,437
16%
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 - 1st Quarter 2018
Marin County Single-Family Homes Marin County’s average sales price bounced back in Q1 2018 after steadily declining since Q2 2017. The county’s $1.637 million average price was up 4 percent year-over-year and 8 percent from the previous quarter. It also marked the second highest benchmark recorded in the last 10 years. Marin County’s 352 home sales this quarter represented a 6 percent rise from Q1 2017, but a 30 percent drop from Q4 2017. That said, this seasonal shift in sales activity — from the end of one year to the start of the next — has been the case in Marin County since 2008. The county’s average 48 DOM was 13 percent faster than the previous year.
MARIN COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$1,637,536
48
$715
change
8%
2%
9%
Q4 2017
$1,520,973
47
$656
Q1 2018
$1,637,536
48
$715
change
4%
-13%
7%
Q1 2017
$1,568,518
56
$667
* 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 - 1st Quarter 2018
4277+ 70+ 55+ 42+ 76+ 61+ 52+ 37+ 70+ 62+ 51+ 31+ 67+ 50+ 48+ 33+ 69+ 55+ 50+ 35+ Quantity Sold — Five Years/Quarter
700 600 500 400 300 200 100 0
53+6162+6070+6968+6971+75 +7670+8071+7278+8280+7581 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 Q4‘17 Q1‘18
Average Sales Price Five Years/Quarter (in thousands)
$1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000 $900
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 Q4‘17 Q1‘18
Sales Price Change
Homes that required no price change netted 3 percent on top of initial list price while buyers who tested the market saw a 12 percent drop from the initial list price. Sales Q1 2018 Q1 2017
without price change
with price change
3%
-12%
3
-10%
%
Average Sales Price by City The Top 10
Tiburon’s average sales price rose to $3.74 million in Q1, up 26 percent from the previous year. Annual price gains of 26 percent and 19 percent were seen in Ross and Larkspur, respectively, reaching $4.205 million and $2.504 million this quarter.
City
Q1 2018
Q1 2017
change
Nicasio
$4,600,000
N/A
N/A
Ross
$4,205,000
$3,455,000
22%
Tiburon
$3,737,583
$2,961,789
26%
Belvedere
$3,005,000
$5,582,000
-46%
Kentfield
$2,535,778
$3,380,568
-25%
> $1000/sqft
Larkspur
$2,504,640
$2,096,000
19%
< $1000/sqft
Stinson Beach
$2,291,875
$3,083,333
-26%
San Geronimo
$2,200,000
N/A
N/A
Sausalito
$2,153,333
$2,033,000
6%
Muir Beach
$2,060,000
$2,100,000
-2%
Marin 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 19 | McGuire Real Estate Quarterly Report - 1st Quarter 2018
Napa County Single-Family Homes After cooling down last quarter, Napa County rebounded with its best average sales price in market history. Reaching $994,214 this quarter, the average home in Napa County sold for 14 percent more than just a year ago, and 3 percent more than the previous benchmark set in Q1 2016. The effect of limited inventory is becoming more of an issue for Napa County, as the number of available homes for sale this quarter declined by about 6 percent year-over-year, placing an upward pressure on prices. Napa County had a total of 249 homes sold this quarter, down 4 percent from Q1 2017 and 11 percent from Q4 2017. The average home went into contract after 87 DOM, moving 10 percent faster than the previous year.
NAPA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$994,214
87
$464
change
12%
11%
1%
Q4 2017
$889,207
79
$458
Q1 2018
$994,214
87
$464
change
14%
-10%
9%
Q1 2017
$873,923
98
$425
* 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 - 1st Quarter 2018
2636+ 37+ 31+ 21+ 34+ 30+ 27+ 25+ 35+ 35+ 27+ 23+ 34+ 37+ 31+ 26+ 34+ 31+ 28+ 24+ Quantity Sold — Five Years/Quarter
500 400 300 200 100 0
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 Q4‘17 Q1‘18
Average Sales Price Five Years/Quarter (in thousands)
$900 $800 $700 $600 $500 $400
66+52 67+ 68+ 72+ 79+ 83+ 73+ 75+ 78+ 83+ 93+ 96+ 88+ 88+ 80+ 87+ 91+ 96+ 88+ 99+ 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 Q4‘17 Q1‘18
Sales Price Change
Sellers generally priced high or right on the money as properties that required no price change sold at list price. Those testing the market only took home 89 percent of their initial asking price. Sales
without price change
with price change
Q1 2018
0
-11%
Q1 2017
1
-10%
% %
Average Sales Price by City - The Top 10
The largest year-over-year price gains occurred in Yountville and Calistoga at 108 percent and 98 percent, respectively. A $12.21 million home sale in St. Helena was the county’s most expensive closing this quarter, driving the average up 8 percent to $2.038 million in Q1.
City
Q1 2018
Q1 2017
change
Yountville
$2,646,500
$1,273,750
108%
St. Helena
$2,038,556
$1,883,368
8%
Calistoga
$1,480,900
$747,140
98%
Rutherford
$1,200,000
$1,041,250
15%
Napa
$963,296
$833,145
16%
< $1000/sqft
Angwin
$934,750
$965,000
-3%
< $900/sqft
American Canyon
$534,737
$528,559
1%
Pope Valley
$230,760
$610,000
-62%
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 - 1st Quarter 2018
Sonoma County Single-Family Homes Sonoma County may have been the most affordable in the North Bay region, but this quarter was still marked by setting another record high average sale price for the third consecutive quarter. The county’s average sales price of $842,262 was the highest recorded in the past 10 years — resulting in a 14 percent increase from Q1 2017 — and 6 percent above the previous record set in Q4 2017. Sonoma County’s sales volume was also up 8 percent year-over-year with 881 homes selling this quarter. An ongoing steady demand for the area also led to homes selling much more quickly this quarter, at an average of 52 DOM, this was 28 percent faster than the previous year.
SONOMA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$842,262
52
$459
change
6%
-16%
9%
Q4 2017
$791,223
62
$420
Q1 2018
$842,262
52
$459
change
14%
-28%
11%
Q1 2017
$741,361
72
$412
* 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 - 1st Quarter 2018
4870+ 69+ 55+ 44+ 62+ 68+ 56+ 38+ 68+ 63+ 42+ 61+ 61+ 51+ 42+ 60+ 64+ 55+ 44+ Quantity Sold — Five Years/Quarter
1400 1200 1000 800 600 400 200 0
46+47 5455+ 59+ 59+ 6059+ 66+ 6366+ 70+ 7274+ 79+ 84 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 Q4‘17 Q1‘18
$800 $750 $700 $650 $600 $550 $500 $450 $400
Average Sales Price Five Years/Quarter (in thousands)
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 Q4‘17 Q1‘18
Sales Price Change
Sellers priced high, but also within reason of market demand. As such, homes that required no price changed sold at 2 percent above initial list price, while buyers who tested the market netted 90 percent of their initial asking price. without price change
with price change
Q1 2018
Sales
2%
-10%
Q1 2017
1
-9%
%
Average Sales Price by City The Top 10
At $2.572 million, Kenwood’s average sales price was not only the highest in the county but also up 73 percent from last year. However, Geyserville had the biggest year-over-year jump in price, with its $1.999 million average increasing by 101 percent from $992,800 in Q1 2017.
City
Q1 2018
Q1 2017
change
Kenwood
$2,572,163
$1,483,421
73%
Geyserville
$1,999,000
$992,800
101%
Sonoma
$1,224,370
$1,082,349
13%
Healdsburg
$1,144,932
$1,074,385
7%
Occidental
$1,025,000
$714,250
44%
Bodega Bay
$984,211
$729,250
35%
Sebastopol
$970,163
$885,395
10%
< $700/sqft
Glen Ellen
$961,718
$1,030,667
-7%
< $500/sqft
The Sea Ranch
$921,021
$831,854
11%
Penngrove
$905,429
$1,546,250
-41%
Sonoma 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 23 | McGuire Real Estate Quarterly Report - 1st Quarter 2018
Alameda County Single-Family Homes The average home in Alameda County sold for $960,146 during the first quarter of this year. That figure resulted in a 9 percent rise year-over-year and was just 2 percent shy of the county’s 10-year record high that took place in Q2 2017. Alameda County had the second highest number of transactions in the Bay Area with a total of 1,785 homes sold this quarter, up 2 percent from Q1 2017. Sellers also enjoyed the second fastest turnaround time of all seven counties, averaging just 20 DOM before going into contract and therefore selling at a 27 percent faster rate than the previous year. Interestingly enough, Alameda County’s southernmost cities — with close proximity to Silicon Valley and San Jose — saw the largest price gains this quarter. The average sales price in Union City, Newark, and Fremont went up 24 percent, 23 percent, and 19 percent, respectively, from Q1 2017.
ALAMEDA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$960,146
20
$569
change
-1%
-8%
3%
Q4 2017
$966,870
21
$554
Q1 2018
$960,146
20
$569
change
9%
-27%
12%
Q1 2017
$882,664
27
$508
* 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 - 1st Quarter 2018
3000 2500 2000 1500 1000 500 0
4665+ 72+ 63+ 45+ 65+ 72+ 60+ 41+ 73+ 71+ 62+ 42+ 69+ 70+ 61+ 42+ 70+ 70+ 68+ 48+ Quantity Sold — Five Years/Quarter
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 Q4‘17 Q1‘18
$950 $900 $850 $800 $750 $700 $650 $600 $550 $500
56+68 66+ 79+ 75+7476+8682+8081+9186+8788+9895+96 Average Sales Price Five Years/Quarter (in thousands)
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 Q4‘17 Q1‘18
Sales Price Change
Sellers who priced their properties accordingly, requiring no change, netted an additional 11 percent on initial asking price. Alternatively, sellers who risked testing the market recovered 91 percent of their asking price.
Sales Q1 2018 Q1 2017
without price change
with price change
11%
-9%
7
-8%
%
Average Sales Price by City - The Top 10
Piedmont had the highest average sales price at $2.303 million, down 1 percent from last year. Sunol saw the largest jump in price, up 38 percent at $1.987 million. At $3.79 million, the county’s most expensive sale was in Pleasanton, where the average sales price rose 9 percent to $1.372 million.
City
Q1 2018
Q1 2017
change
Piedmont
$2,303,771
$2,318,725
-1%
Sunol
$1,987,500
$1,443,500
38%
Pleasanton
$1,372,347
$1,260,760
9%
Berkeley
$1,323,308
$1,256,029
5%
Fremont
$1,285,679
$1,084,914
19%
< $1000/sqft
Dublin
$1,123,272
$1,065,454
5%
< $900/sqft
Albany
$1,076,265
$1,117,821
-4%
Alameda
$1,024,836
$1,025,018
0%
Union City
$1,009,015
$815,450
24%
$966,169
$786,634
23%
Alameda County Single-Family Home Sales Price by Square Foot > $1000/sqft
< $700/sqft < $500/sqft
Newark
* 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 - 1st Quarter 2018
Contra Costa County Single-Family Homes At $779,074, Contra Costa County’s average sales price was the most affordable of all Bay Area counties this quarter. However, that’s not to say that the average price point here doesn’t remain on an upward trajectory — up 8 percent from Q1 2017 — when the average home sold for $718,957. Contra Costa continues to be an attractive and accessible alternative to the sevenfigure markets seen in San Francisco, Marin, and San Mateo Counties. A total of 2,042 homes sold in Contra Costa County this quarter, the highest volume of sales amongst all Bay Area counties, as more and more buyers flock to the East Bay in search of quality lifestyle and affordability. Homes sold after spending an average of 25 DOM this quarter, moving at a 12 percent faster pace than just a year ago.
CONTRA COSTA COUNTY Average Sales Price
Days on Market
Average Price Per Sq. Ft.
Q1 2018
$779,074
25
$387
change
1%
-5%
1%
Q4 2017
$770,454
27
$385
Q1 2018
$779,074
25
$387
change
8%
-12%
10%
Q1 2017
$718,957
29
$351
* 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 - 1st Quarter 2018
2027+ 2923+ 1827+ 2823+ 1830+ 25+ 2132+ 27+ 2030+ 26+ 20 Quantity Sold — Five Years/Quarter
4000 3000 2000 1000 0
$800 $700 $600 $500 $400 $300
49+47 6261+ 5958+ 6968+ 6364+ 7471+ 6669+ 7772+ 7172+ 8480+ 7778+ 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 Q4‘17 Q1‘18
Average Sales Price Five Years/Quarter (in thousands)
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 Q4‘17 Q1‘18
Sales Price Change
Homes here were priced in accordance with buyer expectations, as sellers who required no price change netted 4 percent on top of initial list price. Those who tested the market recovered a healthy 93 percent of their initial asking price.
Sales
without price change
with price change
Q1 2018
%
4
-7%
Q1 2017
2%
-8%
Average Sales Price by City - The Top 10
At $3.405 million, Diablo had the highest average sales price this quarter, despite falling 8 percent from Q1 2017. Alamo’s $1.999 million average climbed 12 percent year-over-year. Lafayette’s $1.469 million average was the biggest drop, by 9 percent.
City
Q1 2018
Q1 2017
change
Diablo
$3,405,240
$3,693,750
-8%
Alamo
$1,999,299
$1,790,261
12%
Orinda
$1,673,088
$1,523,767
10%
Moraga
$1,506,081
$1,381,452
9%
Lafayette
$1,469,744
$1,622,848
-9%
Danville
$1,409,250
$1,373,275
3%
Kensington
$1,219,120
$1,120,198
9%
< $700/sqft
San Ramon
$1,188,200
$1,137,672
4%
< $500/sqft
Walnut Creek
$1,161,475
$1,104,289
5%
El Cerrito
$1,050,852
$949,900
11%
Contra Costa 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 27 | McGuire Real Estate Quarterly Report - 1st Quarter 2018
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