Marin County Market Update | Q4 2016

Belvedere, CA

Marin County Market Update Fourth 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 Impacted by sparse inventory in the fourth quarter of 2016, total sales in Marin County declined slightly year over year, along with average sales prices, according to the Bay Area Real Estate Information Services (BAREIS). The average sales price throughout the County fell 6 percent from $1.5M in Q4 2015 to $1.4M in Q4 2016. The average sales price for a single-family home valued above $3 million fell to $4.2M in Q4 2016, an 11 percent drop from Q4 2015. The market remained healthy, however, for sales of singlefamily homes under $1 million, which saw a modest 3 percent increase, from $770K in Q4 2015 to $799K in Q4 2016.

SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700

Inventory was in short supply throughout the County, as the number of closed sales throughout Marin County fell 7 percent, from 512 units sold in Q4 2015 to 477 units sold in Q4 2016; the upper end of the market saw the greatest drop. With the decrease in average sales prices and number of sales, the total sale volume fell to $680M in Q4 2016, a 12 percent decline compared to Q4 2015.

Q4 AT A GLANCE Q3-2016MARIN MARINCOUNTY COUNTYVOLUME VOLUME Q4-2016 18%

22%

-6 %

The average sales price of a single family home was down to $1,425,115 in Q4 2016

477 units

The total number of single family homes sold— down 7% compared to Q4 2015

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

60%

Q4-2016 Q3-2016MILL MILLVALLEY VALLEYVOLUME VOLUME

+16

%

59 units

The average sales price grew for single family homes valued above $3 million to $4,024,875

16%

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

The total number of single family homes sold— down 24% compared to Q4 2015

$3.0M and up

78%

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.

SIGNIFICANT SALES

left to right from top to bottom:

STINSON BEACH, CA | $9,500,000 ROSS, CA | $8,175,000 BELVEDERE, CA | $5,500,000 BELVEDERE, CA | $5,000,000 BELVEDERE, CA | $4,100,000 HILLSBOROUGH, CA | $3,650,000 TIBURON, CA | $3,365,000 KENTFIELD, CA | $3,125,000 SAUSALITO, CA | $2,750,000 sothebyshomes.com

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.

Q4 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

$705,495

$758,385

$773,819

$798,714

3%

$1 - $3 MILLION

$1,533,844

$1,565,962

$1,580,087

$1,562,474

-1%

$3 MILLION AND UP

$4,453,500

$4,614,268

$4,731,525

$4,228,092

-11%

UP TO $1 MILLION

(2016 v 2015)

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

TOTALS

$1,198,416

$1,374,601

$1,512,920

$1,425,115

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

2014

Average List Price

-6%

2015

2016

Average Sales Price

Q4 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

318

261

199

187

-6%

$1 - $3 MILLION

215

231

273

261

-4%

$3 MILLION AND UP

26

36

40

29

-28%

559

528

512

477

-7%

2013

2014

2015

2016

UP TO $1 MILLION

$224,347,302

$197,938,497

$153,989,985

$149,359,448

-3%

$1 - $3 MILLION

$329,776,445

$361,737,272

$431,363,816

$407,805,739

-5%

$3 MILLION AND UP

$115,791,000

$166,113,638

$189,261,000

$122,614,675

-35%

TOTALS

(2016 v 2015)

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

2014

2015

2016

Q4 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$800,000,000 $780,000,000 $760,000,000 $740,000,000 $720,000,000 $700,000,000 $680,000,000 $660,000,000 $640,000,000 $620,000,000

TOTALS

$669,914,747

$725,789,407

$774,614,801

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

$679,779,862

-12%

$600,000,000 2013

2014

2015

2016

4

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.

Q4 AVERAGE SALES PRICE (SFH) PRICE RANGE

2013

2014

2015

2016

$780,590

$839,625

$867,600

$1 - $3 MILLION

$1,530,442

$1,578,414

$3 MILLION AND UP

$3,534,167

$3,972,200

UP TO $1 MILLION

% CHANGE (2016 v 2015)

$2,000,000

$833,643

-4%

$1,500,000

$1,646,675

$1,667,681

1%

$3,476,591

$4,024,875

16%

$1,000,000

TOTALS

$1,414,073

$1,580,533

$1,804,859

$1,728,537

$500,000 $2013

2014

Average List Price

-4%

2015

2016

Average Sales Price

Q4 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

30

16

10

7

% CHANGE (2016 v 2015)

100 90 80

UP TO $1 MILLION

-30%

70 60

54

49

57

48

-16%

6

5

11

4

-64%

90

70

78

59

-24%

2013

2014

2015

2016

UP TO $1 MILLION

$23,417,700

$13,434,000

$8,676,000

$1 - $3 MILLION

$82,643,850

$77,342,285

$3 MILLION AND UP

$21,205,000

$19,861,000

TOTALS

$127,266,550

$1 - $3 MILLION $3 MILLION AND UP

50 40 30 20 10

TOTALS

2013

2014

2015

2016

Q4 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$160,000,000

$5,835,500

-33%

$120,000,000

$93,860,500

$80,048,702

-15%

$38,242,500

$16,099,500

-58%

$110,637,285 $140,779,000

$101,983,702

-28%

$140,000,000

$100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $-

5

2013

2014

2015

2016

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.

Q4 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

$835,000

$965,000

$835,000

$900,000

8%

$1 - $3 MILLION

$1,956,385

$1,876,395

$1,775,846

$1,980,451

12%

(2016 v 2015)

$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000

$3 MILLION AND UP

$6,698,333

$5,196,875

$5,624,800

$4,318,669

-23%

TOTALS

$2,844,020

$2,792,554

$3,340,375

$2,778,991

-17%

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

2014

Average List Price

2015

2016

Average Sales Price

Q4 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

UP TO $1 MILLION

4

1

1

$1 - $3 MILLION

17

19

$3 MILLION AND UP

6

TOTALS

27

% CHANGE

29

(2016 v 2015)

28

1

0%

27

13

15

15%

8

10

9

-10%

28

24

25

4%

2013

2014

2015

2016

UP TO $1 MILLION

$3,340,000

$965,000

$835,000

$900,000

8%

$1 - $3 MILLION

$33,258,549

$35,651,500

$23,086,000

$29,706,760

29%

$3 MILLION AND UP

$40,190,000

$41,575,000

$56,248,000

$38,868,025

-31%

TOTALS

$76,788,549

$78,191,500

$80,169,000

$69,474,785

-13%

26 25 24 23 22 2013

2014

2015

2016

Q4 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$82,000,000 $80,000,000 $78,000,000 $76,000,000 $74,000,000 $72,000,000 $70,000,000

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

$68,000,000 $66,000,000 $64,000,000 2013

2014

2015

2016

6

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.

Q4 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

$719,500

$700,333

$555,000

-

n/a

$1 - $3 MILLION

$1,602,100

$1,509,929

$1,908,143

$1,960,705

3%

$3 MILLION AND UP

-

$3,400,000

$6,500,000

$4,734,150

-27%

$1,349,929

$1,480,000

$2,110,563

$2,191,825

4%

UP TO $1 MILLION

(2016 v 2015)

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

TOTALS

2014

Average List Price

2015

2016

Average Sales Price

Q4 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

6

3

1

-

UP TO $1 MILLION

% CHANGE (2016 v 2015)

25 20

-100% 15

$1 - $3 MILLION $3 MILLION AND UP

TOTALS

15

14

14

11

-21%

-

1

1

1

0%

21

18

16

12

-25%

10 5 2013

2014

2015

2016

Q4 CLOSED VOLUME (SFH) PRICE RANGE UP TO $1 MILLION

2013

2014

2015

2016

$4,317,000

$2,101,000

$555,000

-

% CHANGE (2016 v 2015) -100%

$40,000,000 $35,000,000 $30,000,000 $25,000,000

$1 - $3 MILLION $3 MILLION AND UP

TOTALS

7

$24,031,500

$21,139,000

$26,714,000

$21,567,750

-19%

$20,000,000 $15,000,000

$28,348,500

$3,400,000 $26,640,000

$6,500,000 $33,769,000

$4,734,150 $26,301,900

-27% -22%

$10,000,000 $5,000,000 $2013

2014

2015

2016

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.

Q4 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

-

-

-

-

n/a

$1 - $3 MILLION

$1,778,700

$2,001,380

$2,070,087

$2,061,500

0%

$3 MILLION AND UP

$4,152,625

$4,623,681

$5,084,700

$4,249,444

-16%

UP TO $1 MILLION

(2016 v 2015)

$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2013

TOTALS

$2,456,964

$3,024,717 $3,260,066

$2,956,568

2014

Average List Price

-9%

2015

2016

Average Sales Price

Q4 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

-

-

-

20

25

8 28

UP TO $1 MILLION

% CHANGE

70

(2016 v 2015)

60

-

n/a

50

23

13

-43%

16

15

9

-40%

41

38

22

-42%

40

$1 - $3 MILLION $3 MILLION AND UP

TOTALS

30 20 10 2013

2014

2015

2016

Q4 CLOSED VOLUME (SFH) PRICE RANGE

2013

2014

2015

2016

-

-

-

$1 - $3 MILLION

$35,574,000

$50,034,499

$3 MILLION AND UP

$33,221,000

TOTALS

$68,795,000

UP TO $1 MILLION

% CHANGE

$140,000,000

(2016 v 2015)

$120,000,000

-

n/a

$100,000,000

$47,612,000

$26,799,500

-44%

$73,978,888

$76,270,500

$38,245,000

-50%

$124,013,387

$123,882,500

$65,044,500

-47%

$80,000,000

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

$60,000,000 $40,000,000 $20,000,000 $2013

2014

2015

2016

8

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.

Q4 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

$739,369

$795,898

$826,418

$825,934

0%

$1 - $3 MILLION

$1,427,968

$1,304,093

$1,448,419

$1,346,233

-7%

$3 MILLION AND UP

$4,137,500

$4,400,000

-

-

n/a

(2016 v 2015)

$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2013

TOTALS

$973,893

$975,654

$1,163,097

1,074,966

2014

Average List Price

-8%

2015

2016

Average Sales Price

Q4 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $1 MILLION

87

83

50

61

22%

$1 - $3 MILLION

31

35

59

56

-5%

$3 MILLION AND UP

2

1

-

-

n/a

120

119

109

117

7%

2013

2014

2015

2016

UP TO $1 MILLION

$64,325,140

$66,059,570

$41,320,910

$50,381,995

22%

$1 - $3 MILLION

$44,267,000

$45,643,240

$85,456,700

$75,389,072

-12%

$3 MILLION AND UP

$8,275,000

$4,400,000

-

-

n/a

(2016 v 2015)

122 120 118 116 114 112 110 108 106 104

TOTALS

102 2013

2014

2015

2016

Q4 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

128,000,000 126,000,000 124,000,000 122,000,000 120,000,000 118,000,000 116,000,000 114,000,000 112,000,000

TOTALS

9

116,867,140

116,102,810

126,777,610

125,771,067

-1%

110,000,000 2013

2014

2015

2016

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