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Quarterly Real Estate Report Q2 2016


Table of Contents

Contra Costa County/Tri-Valley 4 East Bay 8 Marin County 12 Napa County 16 San Francisco 20 Silicon Valley 28 Sonoma County 34 Sonoma Valley 38 Lake Tahoe/Truckee 42


Bay Area 10-Year Overview Here’s a look at home sales in the Bay Area’s real estate markets in the second quarter of 2016, with a glance back at the 10 preceding second quarters.

Bay Area: 10-Year Overview of Q2 Homes Sold Q2 '06

Q2 '07

Q2 '08

Q2 '09

Q2 '10

Q2 '11

Q2 '12

Q2 '13

Q2 '14

Q2 '15

Q2 '16

2,754

1,907

2,542

3,518

3,273

3,142

3,403

2,977

2,939

3,317

3,047

EAST BAY

814

749

613

556

681

676

810

823

798

821

777

MARIN COUNTY

665

684

494

440

574

555

680

786

773

715

704

NAPA COUNTY

317

279

247

307

336

356

419

374

357

363

354

SAN FRANCISCO (SFH)

781

637

655

557

675

685

726

747

629

643

634

SAN FRANCISCO (CONDOS)

589

645

533

370

565

578

740

760

759

695

610

SILICON VALLEY

818

808

632

538

629

752

798

785

755

671

649

1,245

1,001

1,143

1,282

1,249

1,175

1,484

1,458

1,286

1,403

1,273

SONOMA VALLEY

125

113

97

123

136

121

176

174

164

174

130

LAKE TAHOE/TRUCKEE (SFH)

215

183

160

151

200

210

268

291

272

259

297

73

82

35

28

62

82

88

71

77

60

73

REGION CONTRA COSTA COUNTY

SONOMA COUNTY

LAKE TAHOE/TRUCKEE (CONDOS)

Copyright © Pacific Union. Source: BrokerMetrics / Terradatum, Inc. using data from SFARMLS, EBRD, BAREIS, MLSLSTINGS, TSIERRA, July 7, 2016.

Click here to see specific 10-year data on key cities in the Bay Area.


Contra Costa County/Tri-Valley Quarterly Real Estate Report Q2 2016

Ellen Anderson Senior Vice President, Contra Costa County 925.743.9330 ellen.anderson@pacunion.com 101 Sycamore Valley Road West | Danville, CA 94526


Contra Costa County/Tri-Valley pacificunion.com

Contra Costa County/Tri-Valley: Q2 Results Home shoppers in our Contra Costa County region had more properties to choose from in the second quarter of 2016, with healthy inventory increases from one year earlier. Buyers were less frenzied than in quarters past, perhaps weary of constant bidding wars or in response to the improved supply conditions. Normalizing market conditions were also evident in the pace of sales; by the beginning of June, homes were taking much longer to sell than earlier in the quarter. At the high end of the market, we saw a surplus of $2 million-plus properties for sale – unusual for Contra Costa County. As of mid-June, only about one-fifth of those homes were under contract, and sellers who priced too aggressively often found themselves reducing prices in order to attract buyers in a timely manner. Looking Forward: We expect typical seasonal patterns to follow suit in the third quarter – a relatively quiet July and August, followed by a jump in activity once school begins in September. As buyers are likely to have more homes to choose from, sellers will need to exercise particular caution about their pricing strategy in order to ensure a speedy transaction. Defining Contra Costa County/Tri-Valley: Our real estate markets in Contra Costa County include the cities of Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek. Sales data in the charts below includes single-family homes in these communities.

Median Sales Price $1,300,000

$1,185,000 $1,100,000

$1,100,000

$1,069,000 $1,110,500 $1,099,000 $1,056,000 $1,049,000 $1,051,000 $1,010,000 $1,020,000

$1,182,500

$1,195,000

$1,179,000

$900,000 $700,000 $500,000 $300,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

Months’ Supply of Inventory 2.6 2.1

2.1 1.6 1.6

1.3

1.3

1.7

1.6

1.4

1.5

1.4

1.3

1.5 1.3

1.1 0.7 0.6

0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.


Contra Costa County/Tri-Valley pacificunion.com

Average Days on the Market 50 43

45

38

40

34

35 28

30 23

25 20

28

31

24

22

21

18

17

17

Apr-16

May-16

15 10 5 0

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

Percentage of Properties Under Contract 50% 45% 40%

37.8%

36.7%

35.5%

Jun-15

Jul-15

Aug-15

35%

32.9%

36.0%

36.6%

41.0% 35.8%

43.3%

40.1%

41.1% 36.6%

33.1%

30% 25% 20% 15% 10% 5% 0%

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

Sales Price as a Percentage of Original Price 104% 102%

101.7%

101.3% 99.8%

100%

99.3%

99.0%

99.5%

101.3%

101.5% 99.7%

99.1%

98.9%

98% 96.0%

96%

94.2% 94% 92% 90%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.


Contra Costa County/Tri-Valley pacificunion.com

A Closer Look at Contra Costa County/Tri-Valley

Contra Costa County Snapshot: Q2 2016 vs. Q2 2015 Sales Volume

Homes Sold

Avg. Days on Market

Median Price

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Alamo

$ 128,768,940

$ 127,506,025

-1%

74

67

-9%

27

35

30%

$ 1,562,720

$ 1,675,000

7%

Blackhawk

$

$

46,946,018

4%

26

26

0%

37

43

16%

$ 1,620,000

$ 1,617,500

0%

Danville

$ 262,462,918

$ 263,947,971

1%

209

198

-5%

18

16

-11%

$ 1,200,000

$ 1,240,000

3%

Diablo

$

$

7,075,000

-20%

4

4

0%

31

43

39%

$ 2,295,000

$ 1,750,000

-24%

Lafayette

$ 215,276,825

$ 137,795,299

-36%

129

89

-31%

20

20

0%

$ 1,439,000

$ 1,355,000

-6%

Moraga

$

54,737,012

$

54,555,500

0%

40

41

2%

14

32

129%

$ 1,255,000

$ 1,315,000

5%

Orinda

$ 131,817,525

$

117,228,906

-11%

86

74

-14%

19

16

-16%

$ 1,390,000

$ 1,412,500

2%

Pleasant Hill

$

$

59,686,025

-17%

108

81

-25%

19

15

-21%

$

$

730,000

12%

San Ramon

$ 243,728,808

$ 252,187,354

3%

229

226

-1%

14

16

14%

$ 1,022,000

$ 1,054,950

3%

Walnut Creek

$ 175,240,604

$ 200,213,283

14%

172

178

3%

19

15

-21%

$

$ 1,040,000

10%

45,016,500

8,808,000

72,286,623

650,500

947,000

Source: Terradatum, July 7, 2016. Data is for single-family homes in selected Contra Costa County cities.


East Bay Quarterly Real Estate Report Q2 2016

Pam Hoffman Senior Vice President, Managing Broker, East Bay Region 510.339.6460 phoffman@pacunion.com 1900 Mountain Boulevard | Oakland, CA 94611


East Bay pacificunion.com

East Bay: Q2 Results Second-quarter sales activity in the East Bay was similar to what we observed last year – quite busy. In fact, the second quarter will likely go down as the most active quarter of 2016. In June, we began to notice a very slight shift in the market toward buyers, with fewer multiple offers and more price adjustments. Still, the East Bay remains very much a seller’s market, with roughly 80 percent of home sales involving multiple offers and about the same amount selling for more than original price. Desirable homes in the region’s most popular neighborhoods continue to sell for record prices. As in quarters past, walkable neighborhoods near BART stations appealed most to buyers, with homes in the $800,000-to-$1 million price range seeing healthy sales. Unlike in some other Pacific Union regions, very few East Bay sellers keep their homes off the MLS, helping to ensure they receive the optimum price from the crowd of eager buyers. Looking Forward: A lack of inventory still plagues the East Bay, and we expect that trend to persist for the foreseeable future, giving sellers a continued advantage. Activity may taper off some in the late summer, but we foresee no shortage of buyers once the traditionally brisk fall season gets underway. Defining the East Bay: Our real estate markets in the East Bay region include Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705; Alameda; Albany; Berkeley; El Cerrito; Kensington; and Piedmont. Sales data in the charts below includes single-family homes in these communities.

Median Sales Price $1,100,000 $1,000,000 $900,000

$910,000 $918,500

$850,000

$865,000

Aug-15

Sep-15

$913,500

$925,000

Oct-15

Nov-15

$962,500 $877,500

$877,500

Dec-15

Jan-16

$1,007,500

$971,400

$965,000

May-16

Jun-16

$875,000

$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000

Jun-15

Jul-15

Feb-16

Mar-16

Apr-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in the East Bay.

Months’ Supply of Inventory 1.9 1.7

1.7

1.5

1.5 1.2

1.3 1.1 0.9

0.8

0.9

1.1

1.0

0.9

1.1

0.8

0.8

0.9

0.7 0.4

0.5 0.3 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in the East Bay.


East Bay pacificunion.com

Average Days on the Market 45

42

40 35 30 25 20

22 17

17

Jun-15

Jul-15

24 20

19

23

20

17

18

17

17

May-16

Jun-16

15 10 5 0

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in the East Bay.

Percentage of Properties Under Contract 60% 50%

50.6%

46.6%

42.6%

51.8%

49.7%

46.5%

45.5%

55.6%

55.2%

51.2% 45.1%

39.6%

37.4%

40% 30% 20% 10% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in the East Bay.

Sales Price as a Percentage of Original Price 120% 115.8% 115%

116.2% 114.9%

112.2%

110.6%

114.9%

114.6%

114.1%

112.7%

117.8%

112.3%

110.8%

110% 104.2%

105%

100%

95%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in the East Bay.


East Bay pacificunion.com

A Closer Look at the East Bay

East Bay Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Q2 '16

% change

Alameda

$ 104,659,500

$

91,430,794

-13%

107

90

-16%

16

15

-6%

$

889,000

$

922,500

4%

Albany

$

$

16,768,888

-46%

33

18

-45%

18

18

0%

$

950,000

$

852,000

-10%

Berkeley

$ 177,524,990

$ 207,664,979

17%

155

164

6%

16

16

0%

$ 1,030,000

$ 1,175,000

14%

El Cerrito

$

48,627,275

$

56,149,950

15%

61

67

10%

17

21

24%

$

775,000

$

800,000

3%

Kensington

$

19,109,168

$

17,735,050

-7%

20

17

-15%

18

16

-11%

$

897,500

$

930,000

4%

Oakland*

$ 393,019,824

$ 399,265,885

2%

399

385

-4%

21

19

-10%

$

858,000

$

925,000

8%

Piedmont

$ 105,532,378

$

46

36

-22%

15

13

-13%

$ 2,192,500

$ 2,151,000

-2%

31,206,950

81,211,060

-23%

Source: Terradatum, July 7, 2016. Data is for single-family homes in selected East Bay cities; *Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705.

East Bay Price Range Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Homes Sold

Avg. Days on Market

Median Price

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

11,517,369

-24%

38

26

-32%

60

28

-53%

$

400,000

$

453,435

13%

Over $500,000 $ 864,475,082

$ 858,709,237

-1%

783

751

-4%

17

17

0%

$

940,000

$ 1,000,000

6%

$500,000 $1 million

$ 294,327,087

-17%

453

376

-17%

17

18

6%

$

781,000

$

793,000

2%

$ 564,382,150

10%

330

375

14%

16

16

0%

$ 1,350,000

$ 1,352,000

0%

Under $500,000

$

15,205,003

$ 352,995,964

Over $1 million $

511,479,118

Q2 '16 $

Q2 '15

Q2 '16

% change

Source: Terradatum, July 7, 2016. Data is for SFH in the East Bay: Alameda, Albany, Berkeley, El Cerrito, Kensington, Piedmont, and Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705.

Oakland Snapshot: Q2 2016 vs. Q2 2015 Neighborhood Montclair / Joaquin Miller

Homes Sold Q2 '15

Q2 '16

Average Price % change

Q2 '15

Q2 '16

% change

102

96

-6%

$1,089,482

$1,145,632

5%

Crocker Highlands / Grand Lake

38

36

-5%

$1,137,920

$1,213,625

7%

Rockridge / Claremont

52

58

12%

$1,560,085

$1,495,481

-4%

Glenview / Oakmore

26

14

-46%

$890,442

$1,080,571

21%

Laurel / Dimond

30

30

0%

$666,116

$710,221

7%

Redwood Heights / Lincoln Heights

29

27

-7%

$806,482

$838,803

4%

Crestmont / Ridgemont / Skyline

12

17

42%

$1,255,166

$1,433,308

14%

Temescal / Piedmont Ave.

19

12

-37%

$976,000

$1,087,500

11%

Source: EBRD, July 7, 2016. Data is for single-family homes in selected Oakland neighborhoods.


Marin County Quarterly Real Estate Report Q2 2016

Brent Thomson President, Marin County 415.383.1900 brent.thomson@pacunion.com 575 Redwood Highway, Suite 150 | Mill Valley, CA 94941


Marin County pacificunion.com

Marin County: Q2 Results Marin County home shoppers took a more cautious, measured approach in the second quarter, lacking the sense of urgency that characterized past quarters. Buyers were less likely to engage in bidding wars, and many refused to settle for properties that fell short of their ideal. Some sellers found that their homes were taking too long to sell and were considering renting them and trying for a sale next year. That said, top-notch, well-priced properties continued to generate plenty of interest and multiple offers. Homes priced between $1 million and $3 million saw the highest sales volume. As in other parts of the Bay Area, Marin County’s ongoing inventory constraints are hampering affordability for many potential buyers, who are waiting for prices to settle before they can make a move. Looking Forward: Although we expect the usual fall pickup in activity will occur to some degree, the rest of 2016 may not be as brisk as the past few years. The upcoming uncertainty surrounding the U.S. presidential election may also cause more buyer caution, though Marin County’s savvy real estate investors are unlikely to panic regardless of the outcome of global or domestic political affairs. Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the charts below includes single-family homes in these communities.

Median Sales Price $1,500,000 $1,300,000 $1,100,000

$1,112,000

$1,200,000

$1,201,908 $1,100,000 $1,055,000

$1,056,000

$1,153,500

$1,125,000

$1,222,500 $1,150,000

$1,250,000

$1,250,000

$965,000

$900,000 $700,000 $500,000 $300,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

Months’ Supply of Inventory 2.6

2.3

2.3 2.0

2.1 1.7 1.6

1.5

1.4

1.5

1.9

1.6

1.5

1.6 1.4

1.0

1.1

0.6

0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.


Marin County pacificunion.com

Average Days on the Market 90 77

80 70 60

51

50 40

38

38

Jun-15

Jul-15

62

57 48

54

54 45 36

35

Apr-16

May-16

37

30 20 10 0

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

Percentage of Properties Under Contract 50% 45% 40%

43.3% 39.4%

36.7%

35%

31.2%

35.0% 30.8%

31.4%

30%

30.5%

40.6%

38.7% 35.6%

33.2%

26.7%

25% 20% 15% 10% 5% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

Sales Price as a Percentage of Original Price 104%

102.5%

101.6%

102% 100.2%

96.1%

96%

99.3%

98.3%

97.8%

98%

99.6%

99.7%

100%

96.5%

95.1%

95.8%

95.9%

Jan-16

Feb-16

94% 92% 90%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.


Marin County pacificunion.com

A Closer Look at Marin County

Marin County Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

Median Price

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Belvedere

$

45,684,000

$

32,231,500

-29%

6

8

33%

939

55

-94%

$ 7,685,750

$ 3,260,000

-58%

Corte Madera

$

31,277,000

$

50,412,161

61%

22

33

50%

31

21

-32%

$ 1,316,000

$ 1,350,000

3%

Fairfax

$

22,898,875

$

33,288,178

45%

25

32

28%

32

38

19%

$

$

904,000

5%

Greenbrae

$

30,093,500

$

20,584,500

-32%

17

11

-35%

16

20

25%

$ 1,700,000

$ 1,800,000

6%

Kentfield

$

66,410,500

$

47,297,100

-29%

24

18

-25%

21

36

71%

$ 2,275,000

$ 2,185,000

-4%

Larkspur

$

28,386,216

$

37,415,500

32%

19

19

0%

34

18

-47%

$ 1,401,000

$ 1,925,000

37%

Mill Valley

$ 226,437,172

$ 194,047,406

-14%

124

108

-13%

36

34

-6%

$ 1,613,250

$ 1,544,500

-4%

Novato

$ 156,087,164

$ 156,585,796

0%

177

157

-11%

48

36

-25%

$

$

900,000

13%

Ross

$

28,120,000

$

70,476,450

151%

8

16

100%

37

31

-16%

$ 3,450,000

$ 3,037,500

-12%

San Anselmo

$

79,440,965

$

67,418,900

-15%

62

52

-16%

39

38

-3%

$ 1,131,000

$ 1,150,000

2%

San Rafael

$ 179,794,442

$ 183,732,764

2%

147

149

1%

41

35

-15%

$

980,000

$ 1,080,000

10%

Sausalito

$

34,350,250

$

46,506,250

35%

18

23

28%

91

46

-49%

$ 1,830,000

$ 1,915,000

5%

Tiburon

$

94,907,700

$

115,405,750

22%

35

40

14%

77

60

-22%

$ 2,545,000

$ 2,247,500

-12%

865,000

800,000

Source: Terradatum, July 7, 2016. Data is for single-family homes in selected Marin County cities.


Napa County Quarterly Real Estate Report Q2 2016

Linda Carroll Regional Executive, Napa County 707.251.8805 linda.carroll@pacunion.com 944 Main Street | Napa, CA 94559


Napa County pacificunion.com

Napa County: Q2 Results Home sales activity in Napa County was brisk during the second quarter, particularly when compared with the first quarter. This is in part due to a Wine Country seasonal listing trend, in which buyers wait for the region’s enchanting spring blooms to give their home an extra dose of curb appeal – particularly true at the high end of the market. Homes priced less than $2 million usually sold quickly; more expensive properties tended to take longer to find buyers, underscoring the importance of realistic pricing. With Napa County currently enjoying a nice balance between buyers and sellers, multiple offers weren’t particularly common, and sellers typically didn’t receive premiums. More common were contingent sales for homes priced between $500,000 and $650,000, as move-up buyers needed to sell in order to afford their next home. Looking Forward: We expect the market’s current momentum to carry over into the first part of the third quarter before the typical late-summer slowdown. Once summer turns to fall, activity should rebound, as buyers aim to settle into their new homes in time for the holidays. Defining Napa County: Our real estate markets in Napa County include the cities of American Canyon, Angwin, Calistoga, Napa, Oakville, Rutherford, St. Helena, and Yountville. Sales data in the charts below includes all single-family homes in Napa County.

Median Sales Price $800,000 $700,000

$600,000 $630,250

$620,000

$655,000

$685,000

$571,316

$600,000

$650,000 $649,000 $595,500 $579,500

$630,000

$650,826

$624,000

$500,000 $400,000 $300,000 $200,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in Napa County.

Months’ Supply of Inventory 6.1

5.7

5.1 4.3 4.1 3.1

3.6

3.4

3.4

2.9

3.2

3.1

3.5

3.4

2.5

2.4

2.4

2.1 1.1 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in Napa County.


Napa County pacificunion.com

Average Days on the Market 120

112 102

100 80

92 71

72

85

72

94

80

78 68

60

60

51

40 20 0

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in Napa County.

Percentage of Properties Under Contract 30% 25%

23.5%

26.7%

24.2% 21.7%

20.9%

20%

16.8%

19.0%

24.8%

24.3%

Mar-16

Apr-16

26.7%

27.3%

May-16

Jun-16

19.9%

13.8%

15% 10% 5% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in Napa County.

Sales Price as a Percentage of Original Price 100% 96.5%

95.8%

96.4% 94.2%

95%

95.1%

95.0%

94.6%

95.6%

97.4%

96.0%

92.9% 89.4%

90% 84.4%

85%

80%

75%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in Napa County.


Napa County pacificunion.com

A Closer Look at Napa County

Napa County Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Q2 '16

% change

American Canyon

$

16,528,900

$

18,338,354

11%

37

40

8%

45

68

51%

$

450,000

$

Angwin

$

3,065,000

$

3,914,000

28%

4

2

-50%

130

270

108%

$

747,500

$ 1,957,000

162%

Calistoga

$

17,883,700

$

14,794,000

-17%

18

17

-6%

88

89

1%

$

727,000

$

630,000

-13%

Napa

$ 176,308,705

$ 199,626,912

13%

258

255

-1%

67

57

-15%

$

599,975

$

632,000

5%

St. Helena

$

47,472,312

$

74,623,000

57%

33

32

-3%

180

93

-48%

$

885,000

$ 1,379,500

56%

Yountville

$

18,466,999

$

3,872,950

-79%

9

4

-56%

131

88

-33%

$

960,000

$

-5%

437,500

910,000

-3%

Source: Terradatum, July 7, 2016. Data is for single-family homes in selected Napa County cities.

Napa County Price Range Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

Median Price

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

-26%

115

83

-28%

64

75

17%

$

412,000

$

425,000

3%

655,000

$

646,150

-1%

Under $500,000

$

$500,000 $999,999

$ 132,106,599

$ 134,440,694

2%

194

202

4%

77

52

-32%

$

$1 million - $3 million

$

72,556,062

$

93,285,829

29%

49

59

20%

112

83

-26%

$ 1,350,000

$ 1,350,000

0%

Over $3 million $

30,323,000

$

57,737,000

90%

5

10

100%

131

164

25%

$ 5,650,000

$ 4,825,000

-15%

44,843,955

$

33,128,193

Source: Terradatum, July 7, 2016. Data is for single-family homes in Napa County.


San Francisco Quarterly Real Estate Report Q2 2016

Patrick Barber President 415.929.7100 patrick.barber@pacunion.com 1699 Van Ness Avenue | San Francisco, CA 94109


San Francisco pacificunion.com

San Francisco: Q2 Results After several years of rapid price appreciation and frenetic overbids, we observed further signs of movement toward market normalization in San Francisco during the second quarter. Sales were still strong, but homes sat on the market longer than in past quarters – especially in the city’s northern neighborhoods and popular Noe Valley. One main reason for this is that many sellers entertained unrealistic expectations and, accordingly, overpriced their homes. Consequently, bidding wars occurred less frequently than in the second quarter of last year, and price reductions became more commonplace. The sales pace wasn’t as brisk in the second quarter of 2016 as in the second quarter of 2015, although the drop-off wasn’t significant. At the high end of the market, many move-up buyers stayed put, uncertain if their existing home would command enough to allow them to afford their target home. All in all, while the San Francisco market remains tilted in favor of sellers, it is slowly moving toward a more balanced state. Looking Forward: Though there is still plenty of demand for San Francisco real estate, we expect further trending toward market normalization throughout the rest of the year, even when adjusted for the typical late-summer slowdown. The pace and depth of this calming trend may be amplified by global economic uncertainties, including the fallout from Britain’s vote to withdraw from the European Union and the tightening of China’s financial markets.

Single-Family Homes – Median Sales Price $1,500,000 $1,300,000

$1,300,000 $1,280,000

$1,270,000 $1,225,444 $1,155,000

$1,400,000 $1,352,500 $1,262,500 $1,201,500

$1,380,000 $1,360,000

$1,365,000

$1,175,000

$1,100,000 $900,000 $700,000 $500,000 $300,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in San Francisco.

Condominiums – Median Sales Price $1,300,000 $1,100,000

$1,139,000 $1,102,563

$1,110,500

$1,149,500

$1,050,000 $1,020,000

$1,124,500 $1,100,000 $1,100,000

$1,110,000

$1,158,000

$1,180,000 $1,105,000

$900,000 $700,000 $500,000 $300,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for condominiums in San Francisco.


San Francisco pacificunion.com

Single-Family Homes – Months’ Supply of Inventory 3.6

3.4

3.1

2.6

2.6

2.6 2.1 1.6

1.6

2.4 2.0

1.8

1.6

1.5

2.0

1.6

1.5 1.0

1.1 0.6 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in San Francisco.

Condominiums – Months’ Supply of Inventory

3.6 3.1

3.1

3.0

3.0 2.6

2.6 2.1 1.6

1.9 1.4

1.9

2.3

2.3

May-16

Jun-16

2.0

1.9

1.5 1.1

1.1 0.6 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for condominiums in San Francisco.

Single-Family Homes – Average Days on the Market 50 43

45 40 35 30

34 30

28

29

29

28

29

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

32

32 26

26

29

25 20 15 10 5 0

Jun-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in San Francisco.


San Francisco pacificunion.com

Condominiums – Average Days on the Market 50

40

36

35 30

45

44

45

28

29

Jun-15

Jul-15

27

42 37

34

33

35

35

May-16

Jun-16

27

25 20 15 10 5 0

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

Source: Terradatum, July 7, 2016. Average days on market for condominiums sold in San Francisco.

Single-Family Homes – Percentage of Properties Under Contract

37.8%

40% 35%

35.0%

35.0%

31.3%

33.0%

37.9% 35.7%

34.5%

32.7%

30.5%

30%

27.7%

27.4% 23.0%

25% 20% 15% 10% 5% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in San Francisco.

Condominiums – Percentage of Properties Under Contract 45%

40.8%

40%

38.1% 34.6%

35%

29.6%

30%

34.1%

33.1%

30.1%

29.3% 24.7%

25%

30.9% 26.5%

23.6%

23.7%

20% 15% 10% 5% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of condominiums under contract in San Francisco.


San Francisco pacificunion.com

Single-Family Homes – Sales Price as a Percentage of Original Price 118% 116% 114%

116.4% 113.8% 112.2%

112%

111.7%

110.8%

110.3%

109.8%

110% 107.1%

108% 106%

108.4%

108.3%

107.0% 104.7%

103.9%

104% 102% 100% 98% 96%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in San Francisco.

Condominiums – Sales Price as a Percentage of Original Price 110%

108.2%

108.3%

109.1% 108.2%

108% 106.5% 105.6%

106%

105.1%

104.9% 104.0%

104%

102.7% 101.8%

102%

103.4%

102.5%

100% 98%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for condominiums under contract in San Francisco.


San Francisco pacificunion.com

Delving into San Francisco’s Districts

San Francisco is defined by 10 separate districts, each of which encompasses several neighborhoods. District 1:

Inner Richmond, Central Richmond, Outer Richmond, JordanPark/Laurel Heights, Lake, Lone Mountain, Sea Cliff.

District 2: Outer Sunset, Central Sunset, Inner Sunset, Outer Parkside, Parkside, Inner Parkside, Golden Gate Heights. District 3: Pine Lake Park, Merced Manor, Lake Shore, Lakeside, Stonestown, Merced Heights, Ingleside, Ingleside Heights, Oceanview. District 4: Balboa Terrace, Diamond Heights, Forest Hill, Forest Hill Extension, Forest Knolls, Ingleside Terrace, Midtown Terrace, Miraloma Park, Monterey Heights, Mount Davidson Manor, Sherwood Forest, St. Francis Wood, Sunnyside, West Portal, Westwood Highlands, Westwood Park. District 5: Buena Vista/Ashbury Heights, Clarendon Heights, Cole Valley/Parnassus Heights, Corona Heights, Duboce Triangle, Eureka Valley/Dolores Heights, Glen Park, Haight-Ashbury, Mission Dolores, Noe Valley, Twin Peaks. District 6: Alamo Square, Anza Vista, Hayes Valley, Lower Pacific Heights, North Panhandle, Western Addition. District 7: Cow Hollow, Marina, Pacific Heights, Presidio Heights. District 8: Downtown, Financial District/Barbary Coast, Nob Hill, North Beach, North Waterfront, Russian Hill, Telegraph Hill,

Tenderloin, Van Ness/Civic Center.

District 9: Bernal Heights, Central Waterfront/Dogpatch, Inner Mission, Mission Bay, Potrero Hill, South Beach,

South of Market, Yerba Buena.

District 10: Bayview, Bayview Heights, Candlestick Point, Crocker Amazon, Excelsior, Hunters Point, Little Hollywood,

Outer Mission, Mission Terrace, Portola, Silver Terrace, Visitacion Valley.


San Francisco pacificunion.com

San Francisco Snapshot: SFH, Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

District 1

$

142,822,688

$

112,480,000

-21%

67

57

-15%

19

26

37%

$

District 2

$

150,967,227

$

158,128,889

5%

121

121

0%

27

23

-15%

District 3

$

35,992,888

$

51,934,998

44%

38

51

34%

40

28

District 4

$

157,079,979

$

137,399,115

-13%

94

89

-5%

22

District 5

$

208,428,851

$

208,206,846

0%

86

90

5%

District 6

$

19,176,000

$

19,650,000

2%

8

8

District 7

$

218,309,814

$

185,134,001

-15%

31

District 8

$

18,127,000

$

21,940,000

21%

District 9

$

99,195,560

$

118,117,139

District 10

$

101,805,576

$

91,623,988

Q2 '16

% change

1,822,000

-3%

$ 1,171,200

$ 1,250,500

7%

-30%

$

$

926,000

4%

27

23%

$ 1,442,500

$ 1,500,000

4%

23

29

26%

$

$

1,955,000

-9%

0%

29

60

107%

$ 1,821,500

$ 2,650,000

45%

33

6%

30

52

73%

$

$

4,725,000

-1%

7

6

-14%

17

44

159%

$ 2,222,000

$ 3,185,000

43%

19%

63

76

21%

23

29

26%

$

1,460,000

$

1,385,000

-5%

-10%

128

103

-20%

36

29

-19%

$

773,944

$

850,000

10%

1,885,000

892,500

2,142,500

4,750,000

$

Source: Terradatum, July 7, 2016. Data is for single-family homes in San Francisco districts.

San Francisco Snapshot: Condos, Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

District 1

$

35,122,300

$

36,430,934

4%

30

34

13%

24

36

50%

$

District 2

$

14,823,000

$

10,373,000

-30%

12

10

-17%

28

33

18%

District 3

$

6,136,000

$

4,531,000

-26%

10

7

-30%

21

62

District 4

$

10,217,000

$

6,065,000

-41%

12

8

-33%

32

District 5

$

178,412,887

$

119,885,998

-33%

134

89

-34%

District 6

$

68,490,500

$

70,912,566

4%

59

60

District 7

$

89,262,201

$

123,320,170

38%

51

District 8

$

148,129,714

$

116,482,660

-21%

District 9

$

331,654,543

$

264,842,478

District 10

$

13,040,500

$

18,631,989

Q2 '16

% change

1,045,000

-13%

$ 1,375,000

$ 1,097,500

-20%

195%

$

607,500

$

620,000

2%

37

16%

$

840,000

$

662,500

-21%

20

27

35%

$

1,275,500

$

1,350,000

6%

2%

23

35

52%

$ 1,140,000

$ 1,220,000

7%

73

43%

23

28

22%

$

$

1,600,000

4%

108

104

-4%

36

35

-3%

$ 1,075,000

$ 1,038,000

-3%

-20%

260

199

-23%

39

45

15%

$

1,055,000

$

1,190,000

13%

43%

19

26

37%

52

50

-4%

$

715,000

$

686,944

-4%

1,206,500

1,540,000

$

Source: Terradatum, July 7, 2016. Data is for condominiums in San Francisco districts.


San Francisco pacificunion.com

San Francisco Price Range Snapshot: SFH, Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Under $1 million

$

144,869,401

$

120,348,725

-17%

186

148

-20%

38

29

-24%

$

$1 million - $3 million

$

646,168,368

$

684,587,974

6%

394

425

8%

22

27

23%

Over $3 million $

360,867,814

$

299,678,277

-17%

63

61

-3%

28

42

50%

Q2 '16

% change

846,250

6%

$ 1,500,000

$ 1,475,000

-2%

$

$

3%

800,000

4,175,000

$

4,300,000

Source: Terradatum, July 7, 2016. Data is for single-family homes in San Francisco County.

San Francisco Price Range Snapshot: Condos, Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Under $1 million

$

220,393,757

$

182,886,371

-17%

286

246

-14%

34

43

26%

$

$1 million - $2 million

$

468,449,811

$

433,283,527

-8%

338

310

-8%

27

32

19%

Over $2 million $

206,445,077

$

155,305,897

-25%

71

54

-24%

43

39

-9%

Q2 '16

% change

765,000

-6%

$ 1,350,000

$ 1,360,593

1%

$

$

-5%

810,000

2,630,000

$

2,492,500

Source: Terradatum, July 7, 2016. Data is for condominiums in San Francisco County.


Silicon Valley Quarterly Real Estate Report Q2 2016

David Barca Vice President, Silicon Valley 650.314.7200 dbarca@pacunion.com 1706 El Camino Real, Suite 220 | Menlo Park CA 94025


Silicon Valley pacificunion.com

Silicon Valley: Q2 Results Although home prices were up year over year in our Silicon Valley region in the second quarter, the market showed increasing signs of normalization. While bidding wars were still very much a fact of life in Silicon Valley, attractive, well-priced properties typically garnered two to four offers rather than the six-plus they attracted last spring. Buyers were more conservative with their offers than in quarters past and less likely to jump on properties the moment they listed. Sellers, for their part – particularly those with unrealistic price expectations – were less willing to fix problems with the home. Although homes priced less than $3 million sold quickly, the pace of sales slowed somewhat at the higher end of the market. Properties at the highest end – above $20 million – often needed price cuts in order to attract buyers. Sales volume declined in all Silicon Valley communities on an annual basis, with Woodside and Portola Valley seeing some of the most prominent drops. About 20 percent of home sales were never listed on the local MLS, down from nearly 30 percent in the first quarter. Looking Forward: Sales activity in the region should remain moderate throughout the rest of the summer, especially with the recent inventory increases we’ve seen. Once buyers return from vacation and the school year begins, we expect the fall market surge to begin in earnest. Defining Silicon Valley: Our real estate markets in the Silicon Valley region include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside. Sales data in the charts below includes all single-family homes in these communities. Defining the Mid-Peninsula: Our real estate markets in the Mid-Peninsula subregion include the cities of Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area). Sales data in the charts below includes all single-family homes in these communities.

Median Sales Price $3,600,000

$3,280,000

$3,100,000 $2,700,000 $2,600,000

$2,750,000 $2,700,000

$2,750,000

$2,641,500 $2,675,000 $2,612,500 $2,500,000

$2,825,000

$2,909,000

$2,835,000

$2,835,000

$2,100,000 $1,600,000 $1,100,000 $600,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in these Silicon Valley communities: Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

Months’ Supply of Inventory 3.6 3.1

3.1

2.8

2.5 2.6 2.1

2.1 1.6

2.1 1.8

1.3

1.2

1.4

1.9 1.6 1.3

1.2

1.1 0.6 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in these SIlicon Valley communities: Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.


Silicon Valley pacificunion.com

Average Days on the Market 45 40

37

39

35

30

30 25

22

20

20

23

24

30 25

24

28

21

18

15 10 5 0

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in these Silicon Valley communities: Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

Percentage of Properties Under Contract 50%

40%

43.1%

41.9%

45%

37.9%

36.5%

35%

30.6%

30%

36.0%

33.2% 28.9%

26.7%

25%

19.1%

20%

33.6%

28.9% 19.8%

15% 10% 5% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in these Silicon Valley communities: Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

Sales Price as a Percentage of Original Price 106%

104.9%

104%

104.2%

104.4%

104.7%

103.0%

102.5%

102.9%

102% 99.3%

99.4%

100% 98%

98.3%

98.4%

97.5%

96.7%

96% 94% 92%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in these Silicon Valley communities: Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.


Silicon Valley pacificunion.com

A Closer Look at Silicon Valley

Silicon Valley Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Q2 '16

% change

Atherton

$

201,072,000

$

188,586,030

-6%

29

25

-14%

43

62

44%

$

Los Altos*

$

301,346,479

$

282,820,125

-6%

101

95

-6%

13

17

31%

$ 2,701,000

$ 2,875,000

6%

Los Altos Hills

$

134,208,888

$

188,754,175

41%

32

44

38%

32

58

81%

$

$

3,550,000

-4%

Menlo Park**

$

210,925,500

$

216,280,225

3%

91

84

-8%

14

18

29%

$ 2,005,000

$ 2,262,500

13%

Palo Alto

$

351,550,574

$

363,138,143

3%

109

109

0%

14

22

57%

$

$

2,585,000

-4%

Portola Valley

$

81,078,000

$

74,882,700

-8%

25

25

0%

16

23

44%

$ 2,625,000

$ 2,800,000

7%

Woodside

$

129,027,279

$

105,536,000

-18%

31

18

-42%

56

56

0%

$ 2,500,000

$ 4,884,000

95%

5,300,000

3,705,000

2,699,000

$

6,325,000

19%

Source: Terradatum, July 7, 2016. Data is for single-family homes in selected Silicon Valley cities. *Excludes County area **Excludes east of U.S. 101


Mid-Peninsula pacificunion.com

Median Sales Price $1,900,000 $1,700,000

$1,775,000

$1,800,000 $1,575,000 $1,550,000 $1,501,000

$1,600,000

$1,500,000

$1,770,000 $1,650,000

$1,530,000

$1,514,000

$1,740,000

$1,615,000

$1,460,000

$1,300,000 $1,100,000 $900,000 $700,000 $500,000 $300,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in these San Mateo County communities: Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

Months’ Supply of Inventory 3.1

2.8

2.6 2.1

1.8

1.5

1.6 1.2 1.1

0.8

1.4

1.2

0.9

0.9

1.3

1.1

0.8

1.0

0.6 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in these San Mateo County communities: Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

Average Days on the Market 40 34

35 30 25

26

25 21

21

20

22

25

20

19

20

21

19

16

15 10 5 0

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in these San Mateo County communities: Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).


Mid-Peninsula pacificunion.com

Percentage of Properties Under Contract 60% 50.5%

50%

47.1% 42.4%

43.6%

37.1%

40%

46.9%

43.2%

44.1%

45.7%

45.7%

May-16

Jun-16

104.2%

104.2%

May-16

Jun-16

36.8%

36.3%

30%

23.2%

20% 10% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in these San Mateo County communities: Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

Sales Price as a Percentage of Original Price 108% 107%

106.7%

106.7%

106%

105.3%

105.3%

104.7%

105% 104%

103.0%

103% 101.7%

102%

100.9%

101%

102.5%

102.0%

101.0%

100% 99% 98% 97%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in these San Mateo County communities: Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

A Closer Look at the Mid-Peninsula Mid-Peninsula Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

Median Price

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Burlingame*

$

115,454,657

$

115,575,000

0%

53

53

0%

19

19

0%

$ 2,000,000

$ 2,090,000

4%

Hillsborough

$

133,932,366

$

152,105,832

14%

31

37

19%

28

33

18%

$ 4,050,000

$ 3,800,000

-6%

San Mateo**

$

248,154,453

$

231,500,870

-7%

169

159

-6%

17

17

0%

$ 1,340,000

$ 1,358,000

1%

Source: Terradatum, July 7, 2016. Data is for single-family homes in selected San Mateo County cities. * Excludes Ingold Millsdale Industrial Center ** Excludes the North Shoreview/Dore Cavanaugh area


Sonoma County Quarterly Real Estate Report Q2 2016

Rick Laws Senior Vice President, Sonoma County 707.547.3800 rick.laws@pacunion.com 3333 Mendocino Avenue, Suite 210 | Santa Rosa, CA 95403


Sonoma County pacificunion.com

Sonoma County: Q2 Results Second-quarter sales volume in Sonoma County was consistent with the same period last year, with prices continuing their slow and steady climb, thanks in part to declining inventory. Currently, Sonoma County’s relative affordability compared with other Bay Area locations, along with excellent economic conditions and interest rates that remain near their historic lows, is helping to drive sales in both the primary- and secondhome markets. At some point, we expect that rising prices, and the eroding affordability that comes along with them, will take their toll and put a damper on demand, but that softening does not yet appear to be evident. For now, the Sonoma County housing market remains tilted in favor of sellers, although less so at the high end – $2 million and above. Looking Forward: Inventory and sales activity picked up as the second quarter neared its end, but we expect a slowdown in the early part of the third quarter as summer vacations top real estate concerns. With the coming of autumn, the market should regain momentum, consistent with seasonal patterns we’ve observed in years past. Defining Sonoma County: Our real estate markets in Sonoma County include the cities of Cloverdale, Cotati, Healdsburg, Penngrove, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, and Windsor. Sales data in the charts below includes all single-family homes and farms and ranches in Sonoma County.

Median Sales Price $700,000 $600,000

$546,000

$545,000 $541,000

$541,500 $529,750

$526,750

$549,450

$556,250

Dec-15

Jan-16

$542,000

$560,000

Feb-16

Mar-16

$574,750

$580,500

Apr-16

May-16

$603,000

$500,000 $400,000 $300,000 $200,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes and farms/ranches in Sonoma County.

Months’ Supply of Inventory 3.1 2.5

2.6 2.1

2.1 1.7

1.7

Jun-15

Jul-15

2.5 2.2

2.2

2.0

1.8

1.9

1.9

1.9

Apr-16

May-16

Jun-16

1.5

1.6 1.1 0.6 0.1

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes and farms/ranches in Sonoma County.


Sonoma County pacificunion.com

Average Days on the Market 90

81

80

73

70 60

56

59

60

Jul-15

Aug-15

60

60

79 68

65

61

61 53

50 40 30 20 10 0

Jun-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes and farms/ranches sold in Sonoma County.

Percentage of Properties Under Contract 45% 38.4%

40% 35%

34.5%

31.3% 27.9%

30%

27.7%

30.8%

33.2% 28.8%

36.0%

35.0%

34.8%

Apr-16

May-16

Jun-16

27.9% 24.8%

25% 20% 15% 10% 5% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes and farms/ranches under contract in Sonoma County.

Sales Price as a Percentage of Original Price 100%

99.5%

99%

99.1% 97.9%

98%

98.1%

97.7% 96.7%

97% 96%

97.4%

96.7%

96.4%

95.5%

95.1%

95% 94%

93.8%

93.9%

Dec-15

Jan-16

93% 92% 91% 90%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes and farms/ranches under contract in Sonoma County.


Sonoma County pacificunion.com

A Closer Look at Sonoma County

Sonoma County Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Q2 '16

% change

Cloverdale

$

22,292,774

$

27,018,500

21%

43

51

5%

89

72

-19%

$

444,245

$

484,000

9%

Healdsburg

$

71,775,625

$ 103,350,577

44%

58

61

5%

78

78

0%

$

923,750

$ 1,055,000

14%

Petaluma

$ 107,955,884

$ 120,723,138

12%

166

168

1%

53

47

-11%

$

599,500

$

666,000

11%

Rohnert Park

$

$

7%

80

78

-3%

40

40

0%

$

480,000

$

520,000

8%

Santa Rosa

$ 352,204,271

$ 312,549,686

-11%

604

503

-17%

54

55

2%

$

499,000

$

535,000

7%

Sebastopol

$

45,598,800

$

56,007,004

23%

54

62

15%

63

49

-22%

$

717,500

$

841,000

17%

Windsor

$

51,647,375

$

47,524,650

-8%

81

78

-4%

48

62

29%

$

546,000

$

564,375

3%

38,487,800

41,138,410

Source: Terradatum, July 7, 2016. Data is for single-family homes and farms/ranches in selected Sonoma County cities.

Sonoma County Price Range Snapshot: Q2 2016 vs. Q2 2015 Sales Volume

Homes Sold

Avg. Days on Market

Median Price

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

Under $1 million

$ 680,231,762

$ 651,187,333

-4%

1239

1,118

-10%

55

55

0%

$

$1 million and over

$ 269,803,802

$ 263,361,724

-2%

164

155

-5%

88

81

-8%

$ 1,294,500

515,000

Q2 '16

% change

560,000

9%

$ 1,295,000

0%

$

Source: Terradatum, July 7, 2016. Data is for single-family homes and farms/ranches in selected Sonoma County cities.


Sonoma Valley Quarterly Real Estate Report Q2 2016

Jill Silvas Regional Executive, Sonoma Valley 707.939.9500 jill.silvas@pacunion.com 135 West Napa Street, Suite 200 | Sonoma, CA 95476


Sonoma Valley pacificunion.com

Sonoma Valley: Q2 Results Sellers in Sonoma Valley typically hold off listing their properties during the winter and early spring, waiting for blooming gardens to present their homes in the best light. That trend held up this year, which created an increase in new listings during the latter part of the second quarter. Sellers who put overly optimistic asking prices on their homes often found that the market wouldn’t bear them. By the end of the quarter, many sellers had reduced their prices, and homes stayed on the market longer than expected. Nonetheless, it was a busy quarter. Some sellers found themselves in the unusual position of competing for buyers who had plenty of options. Well-priced properties continued to attract multiple offers, although far fewer than we saw a year ago. In the early part of the quarter, we saw a slowdown in sales of $1 million-plus properties, with plenty of inventory at that price point. By May, supply tightened, striking a better balance between buyers and sellers. Looking Forward: The Bay Area’s strong economy should continue to have a positive effect on Sonoma Valley’s real estate market through the end of the year. The second-home market remains active, and move-up buyers are also busy, creating opportunities for first-time buyers. Sellers may have to settle for a little less than they hoped, as price appreciation appears to be normalizing. Defining Sonoma Valley: Our real estate markets in Sonoma Valley include the cities of Glen Ellen, Kenwood, and Sonoma. Sales data in the charts below refers to all residential properties – including single-family homes, condominiums, and farms and ranches – in these communities.

Median Sales Price $800,000 $700,000

$637,000

$759,000

$740,000

$712,500

$675,000

$672,150

$640,000 $575,000

$600,000

$699,250 $633,000

$657,000

$652,500

Feb-16

Mar-16

Apr-16

$742,500

$500,000 $400,000 $300,000 $200,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes, condominiums, and farms/ranches in Sonoma Valley.

Months’ Supply of Inventory 4.6

4.1

3.9

4.1

3.1 2.6

3.8

3.4

3.6

2.3

2.5

2.5

2.7

2.1

2.1

2.6 2.1

2.4

2.2

1.6 1.1 0.6 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes, condominiums, and farms/ranches in Sonoma Valley.


Sonoma Valley pacificunion.com

Average Days on the Market 100 85

90 80 65

70 60 50

68 60

87 71

69

68 60

58

50

47

56

40 30 20 10 0

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes, condominiums, and farms/ranches sold in Sonoma Valley.

Percentage of Properties Under Contract 33.0%

35% 28.4%

30% 25%

24.9%

23.5%

25.0%

26.8%

25.2%

27.7%

21.8%

27.0% 22.6%

19.8%

20% 14.8%

15% 10% 5% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes, condominiums, and farms/ranches under contract in Sonoma Valley.

Sales Price as a Percentage of Original Price 104% 102%

101.4% 98.8%

100% 98%

98.5%

96.7%

96%

98.2%

97.9%

96.5%

96.2%

95.9% 94.0%

93.5%

94%

91.0%

92%

89.4%

90% 88% 86% 84% 82%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes, condominiums, and farms/ranches under contract in Sonoma Valley.


Sonoma Valley pacificunion.com

A Closer Look at Sonoma Valley

Sonoma Valley Snapshot: Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Q2 '16

% change

$ 1,197,500

73%

Glen Ellen

$

6,865,375

$

16,869,865

146%

8

14

75%

80

78

-3%

$

Kenwood

$

7,560,500

$

10,730,000

42%

6

9

50%

58

87

50%

$ 1,081,250

$

830,000

-23%

Sonoma

$ 147,618,554

$

93,557,208

-37%

160

107

-33%

54

55

2%

$

$

681,000

5%

694,188

650,000

Source: Terradatum, July 7, 2016. Data is for single-family homes, condominiums, and farms/ranches in selected Sonoma Valley cities.


Lake Tahoe/Truckee Quarterly Real Estate Report Q2 2016

Sally Gardner Regional Executive, Tahoe/Truckee Tahoe City 530.581.1882 | Truckee 530.587.7098 | Squaw Valley 530.584.6282 sally.gardner@pacunion.com


Lake Tahoe/Truckee pacificunion.com

Lake Tahoe/Truckee: Q2 Results As the Lake Tahoe/Truckee region is largely a second-home market, it operates under a different set of parameters from the Bay Area. But since many buyers in the region own primary homes in the Bay Area, real estate activity there has an undeniable effect in the Sierra Nevadas. As home prices in the Bay Area begin to slowly normalize, some recent buyers are finding themselves with unexpected extra cash and taking the plunge on a vacation property, which helped drive the second quarter’s brisk pace of sales and the resulting drop in inventory. Another factor fueling activity in Lake Tahoe is that sellers have become more realistic with pricing than in years past. This is both attracting more buyers to the region and quickening the pace of sales; it was not uncommon for attractive, well-priced homes in desirable communities to be under contract within a few days in the second quarter. Sales volume throughout the first half of the year was comparable with the same period in 2015, while the average sales price for all properties rose by about 13 percent. Looking Forward: Unlike in the Bay Area, the Lake Tahoe region doesn’t typically see a late-summer slowdown; vacationing families may find themselves inspired to lock down a winter retreat before the ski season begins. We expect the current healthy sales activity to continue through most of the rest of the year, although it will likely begin to soften after Thanksgiving. Defining Lake Tahoe/Truckee: Our real estate markets in Tahoe/Truckee include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the charts below includes single-family homes and condominiums in these communities.

Single-Family Homes – Median Sales Price $800,000

$727,500

$700,000 $600,000

$661,500 $560,000

$585,000

$577,500

Jun-15

Jul-15

Aug-15

$605,500

$579,000

$688,150 $630,000

$635,000

$595,000

$575,000

$550,000

$500,000 $400,000 $300,000 $200,000 $100,000

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for single-family homes in the Lake Tahoe/Truckee region.

Condominiums – Median Sales Price $450,000 $400,000

$427,500 $391,500

$385,000

$375,000

$361,900

$356,000

$350,000

$335,000

$330,000

$372,000

$359,000

$321,000

$326,500

$315,000

$300,000 $250,000 $200,000 $150,000 $100,000

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Median sales price for condominiums in the Lake Tahoe/Truckee region.


Lake Tahoe/Truckee pacificunion.com

Single-Family Homes – Months’ Supply of Inventory 9.1

8.1

8.1 7.1

6.8

6.9 5.5

6.1

5.9

6.5

6.4 4.8

5.1

6.4

5.9

5.7 4.8

4.7

Mar-16

Apr-16

4.1 3.1 2.1 1.1 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for single-family homes in the Lake Tahoe/Truckee region.

Condominiums – Months’ Supply of Inventory 14.1

12.6

12.3

12.1

11.1

10.1

9.0

11.7

11.7

12.1 10.2

8.4

11.1

10.9

May-16

Jun-16

7.8

8.1

6.4

6.1 4.1 2.1 0.1

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

Source: Terradatum, July 7, 2016. Months' supply of inventory for condominiums in the Lake Tahoe/Truckee region.

Single-Family Homes – Average Days on the Market 160

148

140

130

95

100 80 60

112

111

120

80

81

Jul-15

Aug-15

89

130

98

107

74

59

40 20 0

Jun-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for single-family homes sold in the Lake Tahoe/Truckee region.


Lake Tahoe/Truckee pacificunion.com

Condominiums – Average Days on the Market 200 173

180 160 140 120

107

107

128

122

119

110

103

120

92

100 80 60 40

55

42

48

20 0

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Average days on market for condominiums sold in the Lake Tahoe/Truckee region.

Single-Family Homes – Percentage of Properties Under Contract 20%

18.4%

18%

16.8% 14.9%

16% 14%

12.1%

12.5%

10%

Aug-15

Sep-15

13.8%

13.4%

12%

15.7%

16.1%

11.1%

11.3%

Nov-15

Dec-15

14.8%

9.5%

8% 6% 4% 2% 0%

Jun-15

Jul-15

Oct-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Percentage of single-family homes under contract in the Lake Tahoe/Truckee region.

Condominiums – Percentage of Properties Under Contract 14%

12.2%

11.2%

12%

11.0%

10% 7.7% 8%

7.7%

7.2%

6.1%

6.5%

Nov-15

Dec-15

8.3%

8.2%

Mar-16

Apr-16

10.5%

10.8%

May-16

Jun-16

6.5%

6% 4% 2% 0%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Jan-16

Feb-16

Source: Terradatum, July 7, 2016. Percentage of condominiums under contract in the Lake Tahoe/Truckee region.


Lake Tahoe/Truckee pacificunion.com

Single-Family Homes – Sales Price as a Percentage of Original Price 98%

96.5%

96%

95.1%

94.5%

94%

92.9%

93.3%

93.4%

93.5%

93.4% 91.3%

90.6%

92%

92.4%

92.0%

90% 88%

86.8%

86% 84% 82% 80%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for single-family homes under contract in the Lake Tahoe/Truckee region.

Condominiums – Sales Price as a Percentage of Original Price 97.1%

98% 96.5% 96%

95.9%

95.6%

96.3%

96.1% 95.1%

94%

92.8%

93.4%

93.9%

91.6%

92% 90.2%

89.9%

90% 88% 86%

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Dec-15

Jan-16

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Source: Terradatum, July 7, 2016. Sales price as % of original price (including adjustments) for condominiums under contract in the Lake Tahoe/Truckee region.


Lake Tahoe/Truckee pacificunion.com

A Closer Look at Lake Tahoe/Truckee Lake Tahoe/Truckee Snapshot: SFH, Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Median Price Q2 '15

Q2 '16

% change

Alpine Meadows

$

2,682,600

$

4,865,000

81%

4

6

50%

48

120

150%

$

673,800

$

800,000

19%

Donner Lake

$

5,647,180

$

1,525,500

-73%

8

3

-63%

154

34

-78%

$

562,500

$

496,500

-12%

Donner Summit

$

5,753,625

$

9,329,000

62%

12

12

0%

98

39

-60%

$

457,000

$

627,000

37%

Martis Valley

$

22,729,000

$

74,951,825

230%

22

40

82%

53

82

55%

$

492,000

$

619,500

26%

North Lake Tahoe

$

44,896,612

$

36,420,984

-19%

61

41

-33%

110

130

18%

$

560,000

$

542,000

-3%

Northstar

$

4,727,500

$

12,920,000

173%

6

11

83%

167

123

-26%

$

745,000

$

900,000

21%

Squaw Valley

$

2,219,000

$

13,190,000

494%

3

9

200%

214

471

120%

$

680,000

$

1,440,000

Tahoe City

$

13,627,500

$

24,147,984

77%

18

17

-6%

36

179

397%

$

625,000

$

720,000

15%

Tahoe Donner

$

31,943,300

$

35,309,406

11%

51

51

0%

55

51

-7%

$

555,000

$

600,000

8%

Truckee

$

37,799,051

$

95,940,175

154%

51

73

43%

52

83

60%

$

477,000

$

559,000

17%

West Shore

$

15,127,000

$

33,085,548

119%

23

34

48%

99

131

32%

$

560,000

$

708,024

26%

112%

Source: Terradatum, July 7, 2016. Data is for single-family homes in the Lake Tahoe/Truckee region.

Lake Tahoe/Truckee Snapshot: Condos, Q2 2016 vs. Q2 2015 Sales Volume Q2 '15

Q2 '16

Homes Sold

Avg. Days on Market

Median Price

% change

Q2 '15

Q2 '16

% change

Q2 '15

Q2 '16

% change

Q2 '15

106%

2

4

100%

115

172

50%

$

n/a

4762500

1

n/a

0

14

n/a

$

n/a

0

0

n/a

0

0

n/a

$

Q2 '16

% change

Alpine Meadows

$

Donner Lake

$

Donner Summit

$

North Lake Tahoe

$

8,057,425

$

4,762,500

-41%

15

12

-20%

42

178

324%

$

290,000

$

313,250

8%

Northstar

$

4,387,250

$

4,424,473

1%

11

6

-45%

63

60

-5%

$

325,000

$

407,500

25%

Squaw Valley

$

1,815,000

$

1,976,500

9%

4

5

25%

249

121

-51%

$

290,000

$

389,000

34%

Tahoe City

$

5,685,425

$

3,473,500

-39%

8

8

0%

49

152

210%

$

349,500

$

313,250

-10%

Tahoe Donner

$

2,525,000

$

4,342,500

72%

9

16

78%

50

31

-38%

$

292,000

$

287,500

-2%

Truckee

$

6,027,808

$

14,753,000

145%

11

19

73%

78

94

21%

$

499,000

$

469,000

-6%

West Shore

$

$

701,500

n/a

0

2

n/a

0

112

n/a

$

$

350,750

n/a

595,000

$

1,223,000

-

$

699,000

-

$

-

-

$

327,500

10%

-

$

699,000

n/a

-

$

297,500

-

-

n/a

Source: Terradatum, July 7, 2016. Data is for condominiums in the Lake Tahoe/Truckee region.


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