Marin County Market Update | Q2 2015

Stinson Beach, CA | web: 0087324

Marin County Market Update Second Quarter 2015 SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700

sothebyshomes.com

All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS)

A MESSAGE FROM: Jeffrey G. Gibson Senior Vice President and Brokerage Manager In the second quarter of 2015, Marin County’s real estate market maintained a strong stance, according to data pulled from the Bay Area Real Estate Information Services (BAREIS). Despite limited new inventory, the desire to purchase in Marin County continues to remain high, evidenced by 9% overall growth in average sales price for a single-family home. Between 2012 and 2015, Q2 saw a strong increase of closed volume for single-family homes, from approximately $700 million to over $1 billion. While each neighborhood had unique attributes of growth or decline, overall the County mirrored San Francisco’s market of increased prices and limited inventory. The market under $1 million was the tightest with quick sales of homes coming on the market, especially when priced properly. The following charts depicts the market details for Marin County, Mill Valley, Ross, Kentfield, Sausalito, Tiburon, Belvedere and San Rafael.

MARIN COUNTY MARKET SUMMARY (SFH) Marin County on the whole had a climb of 9 percent in sales price, which exceeded the 7 percent decrease in number of sides leading to a moderate 1 percent increase in total closed sales volume. With the 7 percent reduction in inventory seen between Q2 of 2014 and Q2 of 2015, this moderate bell curve ended at a total of 708 units sold. Homes under $1 million saw the greatest reduction in sales, while homes in the $1 million to $3 million range experienced a significant increase over the last four years.

Three million dollar properties and higher held the lion’s share of closed volume, holding 54 percent of the market.

Q2-2015 MARIN COUNTY VOLUME

21%

25%

< $1.0M $1.0M - $3.0M $3.0M and up

54%

MILL VALLEY SUMMARY (SFH) Most notably, Mill Valley had a steep rise in its trajectory between Q2 of 2012 and Q2 of 2015, with a starting sales volume of $117,584,257 and then ending at almost double the transaction amount with $230,538,672 in single family home sales. An increase in the average sales price on sold homes, along with the number of units sold, helped to bolster this dramatic increase over the last four years. Homes under $1 million dropped significantly though, seeing a decrease in both number of homes sold and the overall average sales volume.

Q2-2015 MILL VALLEY VOLUME

25%

6% < $1.0M $1.0M - $3.0M $3.0M and up

69%

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

MARIN COUNTY

SINGLE FAMILY HOME SALES

Across the Golden Gate Bridge from San Francisco lies Marin County, an area renowned for its natural beauty. Marin County is home to Muir Woods redwood forest, the Marin Headlands, Stinson Beach, the Point Reyes National Seashore and Mount Tamalpais. Most of the county’s population resides on the eastern side, with the interior of the county consisting of large areas of agricultural and open space.

Q2 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

$635,733

$714,949

$743,082

$778,091

5%

$1 - $3 MILLION

$1,631,757

$1,584,952

$1,607,644

$1,591,118

-1%

$3 MILLION AND UP

$4,564,850

$3,914,429

$4,117,116

$4,394,017

7%

(2015 v 2014)

$1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000

TOTALS

$1,047,525

$1,214,955

$1,374,425

$1,501,374

$600,000 $400,000 $200,000 $2012

2013

Average List Price

9%

2014

2015

Average Sales Price

Q2 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

456

416

371

285

-23%

$1 - $3 MILLION

201

336

334

363

9%

$3 MILLION AND UP

20

31

57

60

5%

TOTALS

677

783

762

708

-7%

2012

2013

2014

2015

UP TO $1 MILLION

$289,894,334

$297,418,865

$275,683,542

$221,755,830

-20%

$1 - $3 MILLION

$327,983,241

$532,543,926

$536,953,061

$577,575,808

8%

$3 MILLION AND UP

$91,297,000

$121,347,288

$234,675,596

$263,640,998

12%

TOTALS

$709,174,575

$951,310,079

$ 1,047,312,199 $1,062,972,636

1%

(2015 v 2014)

1,000 900 800 700 600 500 400 300 200 100 2012

2013

2014

2015

Q2 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

$1,200,000,000 $1,000,000,000 $800,000,000 $600,000,000 $400,000,000

3

$200,000,000 $2012

2013

2014

2015

MILL VALLEY

SINGLE FAMILY HOME SALES Mill Valley, about 14 miles north of San Francisco, is located on the western and northern shores of Richardson Bay. Mill Valley is known for being a town with a strong artistic heritage, with its many art galleries and town sponsorship of the Mill Valley Film Festival, which is part of the California Film Institute. The combination of Mill Valleyâ&#x20AC;&#x2122;s idyllic location beneath Mount Tamalpais and its ease of access to San Francisco has made it a popular home for many commuters.

Q2 AVERAGE SALES PRICE (SFH) PRICE RANGE

2012

2013

2014

2015

$748,378

$788,882

$849,752

$1 - $3 MILLION

$1,565,860

$1,519,544

$3 MILLION AND UP

3,300,000

$4,196,667

UP TO $1 MILLION

% CHANGE (2015 v 2014)

$2,000,000

$868,059

2%

$1,500,000

$1,674,023

$1,704,373

2%

$3,899,031

$3,818,334

-2%

$1,000,000

TOTALS

$1,199,839

$1,336,825

$1,635,155 $1,844,309

$500,000 $2012

2013

Average List Price

13%

2014

2015

Average Sales Price

Q2 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2012

2013

2014

2015

UP TO $1 MILLION

46

39

30

$1 - $3 MILLION

51

70

1 98

% CHANGE

140

(2015 v 2014)

120

17

-43%

100

82

93

13%

3

9

15

67%

112

121

125

3%

2012

2013

2014

2015

UP TO $1 MILLION

$34,425,400

$30,766,400

$25,492,572

$14,757,000

-42%

$1 - $3 MILLION

$79,858,857

$106,368,050

$137,269,875

$158,506,669

15%

$3 MILLION AND UP

$3,300,000

$12,590,000

$35,091,275

$57,275,003

63%

$117,584,257

$149,724,450

$197,853,722

$230,538,672

17%

80

$3 MILLION AND UP

TOTALS

60 40 20 2012

2013

2014

2015

Q2 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

$250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $-

TOTALS

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

2012

2013

2014

2015

4

ROSS and KENTFIELD

SINGLE FAMILY HOME SALES

The scenic residential towns of Ross and Kentfield, with their small-town feel, tree-covered hills, winding creeks, graciously landscaped streets and gardens, serve as an ideal oasis for both locals and visitors alike. Ross is located just north of San Francisco and is bordered by Kentfield and Greenbrae to the east. Kentfield is home to the main campus for the College of Marin, which is well known for its theatre department.

Q2 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

$817,500

$841,750

$793,333

$879,500

11%

$1 - $3 MILLION

$2,085,929

$1,910,523

$1,839,786

$1,896,278

3%

$3 MILLION AND UP

$5,828,333

$4,246,409

$4,483,373

$4,503,071

0%

TOTALS

$2,498,258

$2,397,334

$2,609,578

$2,971,379

14%

UP TO $1 MILLION

(2015 v 2014)

$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2012

2013

Average List Price

2014

2015

Average Sales Price

Q2 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE UP TO $1 MILLION

2012

2013

2014

2015

6

4

3

1

% CHANGE

50

(2015 v 2014)

45

-67%

35

40 30

$1 - $3 MILLION

24

29

27

18

-33%

$3 MILLION AND UP

6

11

14

14

0%

36

44

44

33

-25%

2012

2013

2014

2015

UP TO $1 MILLION

$4,905,000

$3,367,000

$2,380,000

$879,500

-63%

$1 - $3 MILLION

$50,062,300

$55,405,175

$49,674,214

$34,133,000

-31%

$3 MILLION AND UP

$34,970,000

$46,710,500

$62,767,221

$63,043,000

0%

TOTALS

$89,937,300 $105,482,675

25 20 15 10 5

TOTALS

2012

2013

2014

2015

Q2 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

$140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000

5

$20,000,000 $-

$114,821,435 $98,055,500

-15%

2012

2013

2014

2015

SAUSALITO

SINGLE FAMILY HOME SALES The waterfront town of Sausalito is located just across the Golden Gate Bridge from San Francisco. The charming town offers an array of boutique shops, art studios and galleries, restaurants and outdoor cafes and bistros, many with incredible views of the San Francisco Bay and city skyline. Sausalito is adjacent to the protected areas of the Golden Gate National Recreation Area, a popular camping and tourist destination.

Q2 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

$730,000

$692,250

$834,600

$741,667

-11%

$1 - $3 MILLION

$1,635,778

$1,576,676

$1,933,608

$1,933,946

0%

$3 MILLION AND UP

$3,260,000

$3,550,007

$3,616,333 $3,650,000

1%

(2015 v 2014)

$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2012

TOTALS

$1,358,353

$1,594,457

$1,911,265 $1,926,329

2013

Average List Price

1%

2014

2015

Average Sales Price

Q2 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2012

2013

2014

2015

7

4

5

3

% CHANGE

25

(2015 v 2014)

20

UP TO $1 MILLION

-40% 15

$1 - $3 MILLION

9

17

12

14

17%

$3 MILLION AND UP

1

2

3

2

-33%

TOTALS

17

23

20

19

-5%

2012

2013

2014

2015

UP TO $1 MILLION

$5,110,000

$2,769,000

$4,173,000

$2,225,000

-47%

$1 - $3 MILLION

$14,722,000

$26,803,500

$23,203,300

$27,075,250

17%

$3 MILLION AND UP

$3,260,000

$7,100,013

$10,849,000

$7,300,000

-33%

10 5 2012

2013

2014

2015

Q2 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

$45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000

TOTALS

$23,092,000

$36,672,513

$38,225,300 $36,600,250

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

-4%

$2012

2013

2014

2015

6

TIBURON and BELVEDERE

SINGLE FAMILY HOME SALES

Tiburon occupies most of the Tiburon Peninsula, while the smaller city of Belvedere occupies the southeast portion of the Peninsula. Tiburon is a popular town amongst commuters and tourists, linked by ferry services to San Francisco. The town offers a high concentration of restaurants and boutiques and is the closest mainland point to Angel Island. Belvedere is home to many properties renowned for their spectacular views of the Bay Area, Angel Island, San Francisco, Sausalito, the Golden Gate Bridge and Mount Tamalpais.

Q2 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

$823,100

-

-

-

n/a

$1 - $3 MILLION

$1,691,625

$2,157,277

$2,057,395

$1,884,214

-8%

$3 MILLION AND UP

$4,151,889

$3,729,678

$4,241,370

$5,217,842

23%

(2015 v 2014)

$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2012

TOTALS

$2,087,175 $2,491,830 $3,082,526

$3,429,066

2013

Average List Price

11%

2014

2015

Average Sales Price

Q2 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2012

2013

2014

2015

UP TO $1 MILLION

5

-

-

$1 - $3 MILLION

31

37

$3 MILLION AND UP

9 45

% CHANGE

70

(2015 v 2014)

60

-

n/a

50

26

22

-15%

10

23

19

-17%

47

49

41

-16%

2012

2013

2014

2015

$4,115,500

-

-

-

n/a

$1 - $3 MILLION

$52,440,374

$79,819,250

$53,492,260

$41,452,700

-23%

$3 MILLION AND UP

$37,367,000

$37,296,775

$97,551,500

$99,139,000

2%

TOTALS

$93,922,874

$117,116,025

$151,043,760 $140,591,700

-7%

40

TOTALS

30 20 10 2012

2013

2014

2015

Q2 CLOSED VOLUME (SFH) PRICE RANGE UP TO $1 MILLION

7

% CHANGE (2015 v 2014)

$160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $2012

2013

2014

2015

SAN RAFAEL

SINGLE FAMILY HOME SALES Sitting in the heart of Marin County, San Rafael is one of the oldest and largest cities in the county. The cityâ&#x20AC;&#x2122;s rich history can be seen from the many well-preserved classic homes found in each neighborhood. Residents and visitors alike can enjoy a plethora of shopping and entertainment in the downtown area, or bask in nature on the hiking trails, lakes and views atop nearby Mount Tamalpais.

Q2 AVERAGE SALES PRICE (SFH) PRICE RANGE UP TO $1 MILLION

2012

2013

2014

2015

$619,251

$743,873

$754,479

$1,502,778

$1,395,393

-

$3,150,000

% CHANGE (2015 v 2014)

$1,400,000

$815,175

8%

$1,000,000

$1,427,505

$1,437,551

1%

$3,510,400

$3,867,500

10%

$1,200,000 $800,000

$1 - $3 MILLION $3 MILLION AND UP

$600,000 $400,000 $200,000 $2012

TOTALS

$680,892

$957,248

$1,028,558

$1,220,271

19%

2013

Average List Price

2014

2015

Average Sales Price

Q2 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2012

2013

2014

2015

120

115

109

$1 - $3 MILLION

9

51

$3 MILLION AND UP

129

% CHANGE

180

(2015 v 2014)

160

73

-33%

120

50

63

26%

1

4

6

50%

167

163

142

-13%

2012

2013

2014

2015

UP TO $1 MILLION

$74,310,060

$85,545,392

$82,238,160

$59,507,760

-28%

$1 - $3 MILLION

$13,525,000

$71,165,018

$71,375,235

$90,565,682

27%

-

$3,150,000

$14,041,600

$23,205,000

65%

UP TO $1 MILLION

140 100

TOTALS

80 60 40 20 2012

2013

2014

2015

Q2 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

200,000,000 180,000,000 160,000,000 140,000,000 120,000,000 100,000,000 80,000,000 60,000,000

$3 MILLION AND UP

40,000,000 20,000,000

TOTALS

87,835,060

159,860,410

167,654,995

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

173,278,442

3%

2012

2013

2014

2015

8

FEATURED PROPERTIES

STINSON BEACH Web ID: 0087311 | $2,995,000 Hand built by one of the finest builders in West Marin, this home overlooks the cliffs of the Pacific and has access to the tamed trails of the National Golden Gate Parklands.

Butch Haze and Rick Teed | 415.250.3988

SAN RAFAEL Web ID: 0086917 | $2,495,000 Set among Marinâ&#x20AC;&#x2122;s rolling hills and Open Space preserve, this modern home has arched steel roofs, soaring gallery-like spaces, a separate library and an expansive 2-story loft artists studio.

Craig Swanson | 415.407.7979

KENTFIELD Web ID: 0087246 | $2,350,000 Basking in sun, this architecturally stunning 4-bedroom, 4-bath residence is in coveted Kent Woodlands. Substantially renovated, this beautiful home is situated on approx. 1.5 acres.

Danielle Chavanon, Isobel Wiener | 415.519.2434

Visit Us In-Store Or Online, Everyday.

Our Wine Specialists Will Help You Shop For The Best Wines For All Occasions

New York | +1 212 894 1990 | wine@sothebys.com

SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2014