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Belvedere, CA | web: 0088107

Marin County Market Update Third Quarter 2016 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 Limited inventory throughout Marin had an impact on the number of single-family homes sold in every area and price range in the third quarter of 2016, according to the Bay Area Real Estate Information Services (BAREIS). The average sales price stayed relatively flat at an average of $1.43 million, but the number of single-family homes sold fell. Total closed sales were down 19 percent, from 627 units sold in the third quarter of 2015 to 509 units sold in the third quarter of 2016. Additionally, the average sales price for single-family homes sold at $3 million and above fell from $5.79 million in Q3 2015 to $4.18 million in the third quarter of 2016—a 28 percent decrease.

SAN FRANCISCO BROKERAGE

I invite you to review the following charts and data depicting the market details for Marin County, Mill Valley, Ross, Kentfield, Sausalito, Tiburon, Belvedere and San Rafael.

117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700

sothebyshomes.com/sanfrancisco

Q3-2016 MARIN COUNTY VOLUME 17%

Q3-2016 MILL VALLEY VOLUME 11% 3%

21%

< $1.0M

< $1.0M

$1.0M - $3.0M

$1.0M - $3.0M

$3.0M and up

$3.0M and up

85%

62%

MARIN COUNTY MARKET SUMMARY (SFH) Q3-2016 - ROSS & KENTFIELD VOLUME 3% 37%

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

60%

With total sales of single family homes down and average sales prices remaining flat throughout Marin, the total sales volume fell 21 percent, from $928,001,337 in the third quarter of 2015 to $728,946,732 in the third quarter of 2016. While total sales volume was down throughout Marin, areas like Mill Valley, Ross and Kenfield stayed flat compared year over year. Mill Valley had a total sales volume of $135,719,963 in the third quarter of 2016. Ross and Kentfield had a total sales volume of $66,287,650 in the thid quarter of 2016.

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 countyâ&#x20AC;&#x2122;s population resides on the eastern side, with the interior of the county consisting of large areas of agricultural and open space.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

2013

2014

2015

2016

$713,979

$747,617

$778,492

$1 - $3 MILLION

$1,576,260

$1,603,609

$3 MILLION AND UP

$6,006,432 $4,346,205

UP TO $1 MILLION

% CHANGE (2016 v 2015)

$1,600,000

$794,118

2%

$1,200,000

$1,584,769

$1,566,676

-1%

$5,789,054

$4,176,500

-28%

$1,400,000 $1,000,000 $800,000

TOTALS

$1,233,176

$1,367,742 $1,480,066

$1,432,115

$600,000 $400,000 $200,000 $2013

2014

Average List Price

-3%

2015

2016

Average Sales Price

Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

388

299

290

190

-34%

$1 - $3 MILLION

295

281

297

289

-3%

21

40

40

30

-25%

704

620

627

509

-19%

2013

2014

2015

2016

UP TO $1 MILLION

$277,024,039

$223,537,350

$225,762,733

$150,882,466

-33%

$1 - $3 MILLION

$464,996,638

$450,614,252

$470,676,464

$452,769,266

-4%

$3 MILLION AND UP

$126,135,070

$173,848,190

$231,562,140

$125,295,000

-46%

$3 MILLION AND UP

TOTALS

(2016 v 2015)

1,000 900 800 700 600 500 400 300 200 100 2013

2014

2015

2016

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

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

TOTALS

3

$868,155,747

$847,999,792

$928,001,337

$728,946,732

-21%

$2013

2014

2015

2016


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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

2013

2014

2015

2016

UP TO $1 MILLION

$829,898

$800,758

$821,575

$1 - $3 MILLION

$1,572,979

$1,611,451

$3 MILLION AND UP

$4,760,000

$4,334,167

% CHANGE (2016 v 2015)

$2,000,000

$925,000

13%

$1,500,000

$1,660,466

$1,705,220

3%

$3,632,143

$3,785,000

4%

$1,000,000

TOTALS

$1,338,110

$1,622,429

$1,654,863

$1,762,597

$500,000 $2013

2014

Average List Price

7%

2015

2016

Average Sales Price

Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

34

19

17

5

% CHANGE (2016 v 2015)

100 90 80

UP TO $1 MILLION

-71%

70 60

59

60

58

68

17%

1

6

7

4

-43%

94

85

82

77

-6%

2013

2014

2015

2016

UP TO $1 MILLION

$28,216,530

$15,214,400

$13,966,775

$4,625,000

-67%

$1 - $3 MILLION

$92,805,787

$96,687,050

$96,307,005

$115,954,963

20%

$3 MILLION AND UP

$4,760,000

$26,005,000

$25,425,000

$15,140,000

-40%

$137,906,450 $135,698,780

$135,719,963

0%

$1 - $3 MILLION $3 MILLION AND UP

50 40 30 20 10

TOTALS

2013

2014

2015

2016

Q3 CLOSED VOLUME (SFH) PRICE RANGE

TOTALS

$125,782,317

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

% CHANGE (2016 v 2015)

$140,000,000 $138,000,000 $136,000,000 $134,000,000 $132,000,000 $130,000,000 $128,000,000 $126,000,000 $124,000,000 $122,000,000 $120,000,000 $118,000,000 2013

2014

2015

2016

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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE UP TO $1 MILLION

2013

2014

2015

2016

$847,000

$900,000

$800,000

$962,000

% CHANGE (2016 v 2015)

20%

$3,500,000 $3,000,000 $2,500,000 $2,000,000

$1 - $3 MILLION

$1,958,310

$1,936,379

$1,873,250

$1,871,819

0%

$3 MILLION AND UP

$6,476,443

$5,062,045

$4,568,080

$5,003,750

10%

$2,488,348

$2,889,120

$2,692,666

$2,882,072

7%

$1,500,000 $1,000,000 $500,000 $2013

TOTALS

2014

Average List Price

2015

2016

Average Sales Price

Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

40

2013

2014

2015

2016

1

1

1

2

100%

30

$1 - $3 MILLION

27

23

16

13

-19%

20

$3 MILLION AND UP

4

11

8

8

0%

10

-8%

-

UP TO $1 MILLION

TOTALS

32

(2016 v 2015)

35

25

23

2013

2014

2015

2016

$847,000

$900,000

$800,000

$1,924,000

141%

$1 - $3 MILLION

$52,874,363

$44,536,711

$29,972,000

$24,333,650

-19%

$3 MILLION AND UP

$25,905,770

$55,682,500

$36,544,640

$40,030,000

10%

TOTALS

$79,627,133

$101,119,211

$67,316,640

$66,287,650

-2%

35

25

15

5 2013

2014

2015

2016

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$120,000,000 $100,000,000

UP TO $1 MILLION

$80,000,000 $60,000,000 $40,000,000

5

$20,000,000 $2013

2014

2015

2016


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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

$680,000

$727,500

$900,000

$660,000

-27%

$1 - $3 MILLION

$1,735,622

$1,803,429

$2,207,429

$1,654,333

-25%

$3 MILLION AND UP

$5,241,000

$3,989,000

n/a

$3,145,000

n/a

TOTALS

$2,085,587

$1,755,405

$2,120,267

$1,819,917

-14%

(2016 v 2015)

$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2013

2014

Average List Price

2015

2016

Average Sales Price

Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

3

5

1

1

% CHANGE

25

(2016 v 2015)

20

UP TO $1 MILLION

0% 15

$1 - $3 MILLION

15

14

14

9

-36%

$3 MILLION AND UP

3

2

n/a

2

n/a

TOTALS

21

21

15

12

-20%

10 5 2013

2014

2015

2016

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

$2,040,000

$3,637,500

$900,000

$660,000

-27%

$1 - $3 MILLION

$26,034,333

$25,248,000

$30,904,000

$14,889,000

-52%

$3 MILLION AND UP

$15,723,000

$7,978,000

n/a

$6,290,000

n/a

(2016 v 2015)

$50,000,000 $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

$43,797,333

$36,863,500

$31,804,000

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

$21,839,000

-31%

$2013

2014

2015

2016

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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

$802,500

n/a

n/a

n/a

n/a

$1 - $3 MILLION

$1,994,419

$2,070,340

$2,154,333

$2,002,786

-7%

$3 MILLION AND UP

$6,295,525

$3,915,906

$7,171,023

$4,007,167

-44%

(2016 v 2015)

$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $2013

TOTALS

$2,931,331

$2,732,851 $4,553,620

$2,604,100

2014

Average List Price

-43%

2015

2016

Average Sales Price

Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

4

n/a

n/a

$1 - $3 MILLION

34

25

$3 MILLION AND UP

12

TOTALS

50

UP TO $1 MILLION

% CHANGE

70

(2016 v 2015)

60

n/a

n/a

50

24

28

17%

14

22

12

-45%

39

46

40

-13%

40 30 20 10 2013

2014

2015

2016

Q3 CLOSED VOLUME (SFH) PRICE RANGE

2013

2014

2015

2016

$3,210,000

n/a

n/a

n/a

% CHANGE

$250,000,000

(2016 v 2015)

$200,000,000

UP TO $1 MILLION

n/a $150,000,000

$1 - $3 MILLION

$67,810,250

$51,758,500

$51,704,000

$56,078,000

8%

$3 MILLION AND UP

$75,546,300

$54,822,690

$157,762,500

$48,086,000

-70%

$146,566,550

$106,581,190

$209,466,500

$104,164,000

-50%

TOTALS

7

$100,000,000 $50,000,000 $2013

2014

2015

2016


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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

$739,471

$775,259

$817,363

$831,180

2%

$1,392,386

$1,436,026

$1,351,926

$1,341,566

-1%

$5,950,000 $3,030,000

$4,124,000

36%

(2016 v 2015)

$1,200,000 $1,000,000

UP TO $1 MILLION

$800,000 $600,000

$1 - $3 MILLION

$400,000 $200,000

$3 MILLION AND UP

n/a

$2013

TOTALS

$905,901

$1,021,470

$1,036,531

$1,127,067

2014

Average List Price

9%

2015

2016

Average Sales Price

Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

114

84

94

50

-47%

$1 - $3 MILLION

39

38

59

55

-7%

(2016 v 2015)

180 160 140 120 100 80 60

$3 MILLION AND UP

n/a

1

1

1

0%

TOTALS

153

123

154

106

-31%

2013

2014

2015

2016

UP TO $1 MILLION

$84,299,734

$65,121,750

$76,832,081

$41,559,000

-46%

$1 - $3 MILLION

$54,303,045

$54,569,000

$79,763,634

$73,786,145

-7%

n/a

$5,950,000

$3,030,000

$4,124,000

36%

40 20 2013

2014

2015

2016

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

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

138,602,779

125,640,750

159,625,715

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

119,469,145

-25%

2013

2014

2015

2016

8


FEATURED PROPERTIES

ROSS Web ID: 0087686 | $16,500,000 Villa La Sosta. Essence of Italian countryside. Palatial custom home, almost 2 acres, tennis court, pool. B Lamothe, A Kwiecien 415.793.1175

BELVEDERE Web ID: 0088112 | $6,295,000 Waterfront 4bd/5ba panoramic view home. Indoor/outdoor flow, south-facing decks, boat dock, pool. 31WestShore.com M Applegarth, K Warrin 415.298.7600

TIBURON Web ID: 1190463 | $3,499,000 Breathtaking waterfront property with its own dock. This unique, contemporary home has 2bd/2ba on two levels. San Francisco and Bay views Peter Colbert 415.798.0203


The Personal Art Collection of David Bowie Auctions in London 10 & 11 November 2016, Viewing 1 – 10 November Enquiries +44 (0)20 7293 5519 bowie@sothebys.com 34–35 New Bond Street, London W1A 2AA sothebys.com/BowieCollector

© GAVIN EVANS

Marin County Market Update | Q3 2016  
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