Marin Statistics by City | Zamira Solari, Marin County REALTOR®

MARIN COUNTY MARKET DYNAMICS 2025 12-MONTH SALES DATA REPORT

12-month sales data eliminates seasonality from statistical calculations, and provides a larger, more reliable data set, but may lag short-term changes.

Marin County Real Estate Market Dynamics by City, Town & Region January 2026 Report

Marin County Home Sales 12 Months House Sales by Market*

New sales are reported constantly.

29 1812 10 5 32

Belvedere Larkspur Kentfield Sausalito

33 410

62

65

San Rafael

71

Corte Madera

72

Tiburon

92

San Geronimo Valley (32), Greenbrae (30), Ross (29), Inverness (18), Dillon Beach (12), Stinson Beach (10), Bolinas (10), Pt. Reyes (5), Nicasio (3)

3

Novato Fairfax

94

San Anselmo

385

134

*12 months sales reported to NorCal MLS Alliance by mid-December 2025. Data based upon sources deemed reliable but may contain errors and subject to revision. All numbers approximate.

Mill Valley 308

This chart pertains to HOUSE sales. There were also 359 condo sales and 146 townhouse sales in the period.

Marin County Market

12 months sales through mid-December 2025*

Median House Sales Prices & High Sales, $5 Million+* Belvedere

$5,800,000

High Price Sale: $15,000,000

Stinson Beach

$5,315,000

High Price Sale: $14,500,000

Tiburon

$3,600,000

High Price Sale: $13,217,000

Ross

$3,400,000

High Price Sale: $15,700,000

Kentfield

$2,900,000

High Price Sale: $13,000,000

Larkspur

$2,575,000

High Price Sale: $10,250,000

Mill Valley

$2,293,500

High Price Sale: $11,500,000

Sausalito

$2,275,000

High Price Sale: $7,500,000

Greenbrae

$2,200,000

Bolinas

$1,825,000

Corte Madera

$1,825,000

San Anselmo

$1,807,500

Central San Rafael

$1,467,500

Inverness

$1,460,000

Dillon Beach

$1,400,000

N. San Rafael

$1,380,000

Novato

$1,250,000

Fairfax

$1,155,000

San Geronimo Vly

$1,055,000

High Price Sale: $5,625,000

High Price Sale: $6,850,000

High Price Sale: $5,100,000

Median house price in the Bay Area is approx. $1,300,000.

Median sales price is that price where half the homes sold for more and half for less. It is a very general statistic that typically disguises a huge range of prices in the underlying sales. It can be affected by a variety of factors, including location, median home size, lot size, quality of construction, amenities, views, parking and so on.

This chart applies to HOUSE sales. The median condo sales price was $690,000, and the median townhouse price was $850,000. The majority of condo and townhouse sales were in San Rafael and Novato.

Markets with lower sales volumes often see more fluctuation in their median sales prices.

*12 months sales reported to NorCal MLS Alliance by mid-December 2025. Data derived from sources deemed reliable but may contain errors and subject to revision. Not all sales are reported to MLS. All numbers approximate.

Marin County Home Values Median House $/Sq.Ft. Values* Stinson Beach

12 Months Sales*

$2,631 per square foot

Belvedere

$1,863

Ross

$1,423

Tiburon

$1,252

Larkspur

$1,199

Kentfield

$1,093

Corte Madera

$1,082

Sausalito

$1,063

Mill Valley

$1,058

Inverness

$1,055

Greenbrae

$988

San Anselmo

$873

Dillon Beach

$848

San Rafael

$788

Fairfax

$751

San Geronimo Vly

$693

Novato

$608

DOLLAR PER SQUARE FOOT ($/sq.ft.) is based upon interior living space and does not include garages, storage rooms, patios, decks or lot sizes. All things being equal, a smaller house will sell for a higher $/sq.ft.

This chart applies to HOUSE sales. The county median condo $/sq.ft. value was $608, and for townhouses, $574.

*12 months sales reported to NorCal MLS Alliance by mid-December 2025. Data derived from sources deemed reliable but may contain errors and subject to revision. Not all sales are reported to MLS. All numbers approximate.

Marin County Home Size Median House Square Footage* Belvedere

3417 square feet

Kentfield

2976

Tiburon

2846

Ross

2624

Greenbrae

2290

Larkspur

2253

Sausalito

2229

Mill Valley

2163

Novato

2113

San Anselmo

2099

Central San Rafael

2003

Stinson Beach

1940

North San Rafael

1822

Corte Madera

1810

Fairfax

1707

Inverness

1536

San Geronimo Vly

1500

12 Months Sales*

Median house size in the Bay Area was approx. 1800 sq.ft.

Comparing median house sales prices between markets is not apples to apples, since the median size of houses sold can vary so widely.

Square footage is calculated on interior living space and doesn’t include garages, attics, basements, rooms built without permit, decks, patios or lot size.

*12 months sales reported to NorCal MLS Alliance by mid-December 2025. Data derived from sources deemed reliable but may contain errors and subject to revision. Not all sales are reported to MLS. All numbers approximate.

Marin County Condo & Townhouse Markets Median Sales Prices: Selected Cities*

12 Months Sales*

Median Condo Sales Prices Tiburon

$1,525,000

Mill Valley

$1,130,000

Sausalito

$959,500

Greenbrae

$807,500

Corte Madera

$780,000

Larkspur

$630,000

San Rafael

$550,000

Novato

$547,500

Median sales price is that price where half the homes sold for more and half for less. It often conceals a wide variety of prices in the underlying sales and can be affected by a variety of factors, including market conditions, location, age and quality of construction and median home sizes.

Median Townhouse Sales Prices Sausalito

$1,670,000

Mill Valley

$1,300,000

Corte Madera

$1,099,000

San Rafael

$820,500

Novato

$762,500

*12 months sales reported to NorCal MLS Alliance by mid-December 2025. Does not include every city with condo or townhouse sales. Data from sources deemed reliable but may contain errors and subject to revision. All numbers are approximate. Not all sales are reported to MLS.

Marin County House Market – Speed of Sale Median Days on Market Prior to Acceptance of Offer* Belvedere

12 Months Sales*

59 days on market

Stinson Beach

51

San G. Vly

45

Inverness

32

Novato

26

San Rafael

26

Fairfax

23

Tiburon

23

Sausalito

23

Kentfield

21

Corte Madera

18

Larkspur

16

San Anselmo

14

Greenbrae

13

Mill Valley

12

Ross

10

Days-on-Market is a measurement of how quickly buyers are responding to listings coming on market. It’s not unusual for very expensive markets to have longer days-on-market readings though, as can be seen, that is not always the case.

For county condo sales, the average days on market was 41 days, and for townhouses, 35 days.

*12 months sales reported to NorCal MLS Alliance by mid-December 2025. Data derived from sources deemed reliable but may contain errors and subject to revision. Not all sales are reported to MLS. All numbers approximate.

Marin County: Overbidding Asking Price For Those House Listings Accepting Offers Within 30 Days* Larkspur

6.0% over list price

Corte Madera

5.5%

Mill Valley

5.0%

San Anselmo

5.0%

Ross

4.5%

Fairfax

4.0%

San Rafael

3.5%

Greenbrae

2.5%

Kentfield

2.5%

Novato

2.0%

Sausalito

2.0%

Tiburon

-1.5% ◄ under original list price

Belvedere

12 Months Sales*

-2.0%

This chart looks at average overbid percentages on houses which sold relatively quickly – i.e. went into contract within 30 days. 4% = an average sales price 4% above asking price. It’s not unusual for very expensive markets to have lower or negative percentages, but that is not always the case.

For condo sales in the county, the overbid % for properties selling within 30 days was 1%, and for townhouses, 2%.

*12 months sales reported to NorCal MLS Alliance by mid-December 2025. Data from sources deemed reliable but may contain errors and subject to revision. Not all sales are reported to MLS. Percentages rounded and all numbers approximate.

Marin Luxury Home Market* Homes Selling for $5,000,000+, 12 Months Sales* $5m - $6.999 Million Tiburon

$7m - $9.999 Million

$10 Million+

19

Mill Valley

2

15

Belvedere

3

5

Kentfield

3

Ross

3

10 4 3

Stinson Beach

5

San Anselmo

3

3 4

2 2 Other Marin communities had 1 sale of a $5m+ home during the 12month period, including San Rafael and San Geronimo Valley.

01

4

Larkspur

3

Sausalito

1 0

01 2 5

10

15

*12 months sales by MLS Area reported to NorCal MLS Alliance by mid-December 2025. Not all luxury home sales are reported to MLS. Data from sources deemed reliable but may contain errors and subject to revision. All numbers approximate. New sales activity is reported constantly.

20

25

Median Sales Prices & Annual Appreciation Calculations The 2025 median sales price calculations on the following annual-trend charts are based on calendar-year sales reported to NorCal MLS Alliance by early January 2026. They may vary from prices calculated from sales occurring in slightly different periods included in this report. They can also change as late-reported sales are entered into MLS: A few additional home sales – sometimes even one or two – may alter the median sales price, especially in smaller markets.

Median home sales prices are not like stock prices where each share sold is essentially the same product period to period: Median home prices are calculated using differing collections of unique home sales occurring in each period measured. There is no such thing as an unchanging “median house” whose change in value can be determined at different times. The median size of homes sold can sometimes vary significantly period to period, or within a city, sales in one neighborhood increase while declining in another. Sales in different price segments can be affected differently by economic circumstances such as interest rates or stock markets. All these situations can impact median sales prices in ways unrelated to fair market value.

Therefore, changes in median sales prices are not exact measurements of area appreciation or depreciation, but using large datasets, they typically generate fairly reliable indicators of general trends in fair market values. (Expensive markets with relatively small sales volumes occurring over wide ranges of sales prices are most prone to anomalous fluctuations in median prices.)

How median sales prices and appreciation calculations apply to any particular home is unknown without a specific comparative market analysis.

Marin County Home Price Trends – Selected Cities

How these prices apply to any particular home is unknown without a specific comparative market analysis.

Annual Median House Sales Prices since 2015 2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025 $2,000,000

Median sales prices are often affected by other factors besides changes in fair market value.

Outsized changes should be treated cautiously until substantiated over the longer term.

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

$1,297,500 $1,342,500 $1,465,000 $1,450,000 $1,540,000 $1,550,000 $1,825,000 $2,006,000 $1,735,000 $1,850,000 $1,880,000

$1,000,000 $1,100,000 $1,223,000 $1,312,500 $1,250,000 $1,375,000 $1,550,000 $1,700,000 $1,585,000 $1,550,000 $1,488,000

$900,000 $957,000 $1,005,000 $1,100,000 $1,150,000 $1,235,000 $1,372,500 $1,515,000 $1,495,000 $1,450,000 $1,375,000

$819,000 $870,000 $919,400 $995,000 $965,000 $1,100,000 $1,287,500 $1,390,000 $1,281,000 $1,200,000 $1,150,000

$820,000 $872,000 $880,500 $965,000 $950,000 $1,040,000 $1,200,000 $1,305,000 $1,201,500 $1,300,000 $1,250,000

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

Novato

Fairfax

North San Rafael

Central San Rafael

Calendar-year sales reported to NorCal MLS Alliance by early January 2026. Median Sales Price is that price at which half the sales occurred for more and half for less. Data from sources deemed reliable but may contain errors and subject to revision. All numbers are approximate and may change with late-reported sales.

Corte Madera

Marin County Home Price Trends – Selected Cities

How these prices apply to any particular home is unknown without a specific comparative market analysis.

Annual Median House Sales Prices since 2015 2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Median sales prices are often affected by other factors besides changes in fair market value (such as substantial changes in the median size of homes sold). Sudden outsized changes should be treated cautiously until substantiated over the longer term.

$2,600,000 $2,400,000 $2,200,000 $2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000

$1,980,000 $1,957,000 $1,800,000 $1,988,000 $1,850,000 $1,830,000 $2,180,000 $2,725,000 $2,247,500 $2,163,000 $2,275,000

$1,500,000 $1,500,000 $1,552,500 $1,685,000 $1,650,000 $1,800,000 $2,105,000 $2,225,000 $2,200,000 $2,250,000 $2,281,000

$1,000,000 $1,566,500 $1,500,000 $1,688,000 $1,673,500 $1,850,000 $1,987,500 $2,042,000 $2,250,000 $2,100,000 $2,180,000 $2,200,000

$1,095,000 $1,150,000 $1,285,000 $1,335,000 $1,385,000 $1,498,000 $1,710,000 $1,830,000 $1,649,000 $1,625,000 $1,815,000

Median S.A. home size rose 13%, 2024 to 2025, and median price rose 12%.

$800,000 $600,000 $400,000

San Anselmo

Greenbrae

Mill Valley

Calendar-year sales reported to NorCal MLS Alliance by early January 2026. Median Sales Price is that price at which half the sales occurred for more and half for less. Data from sources deemed reliable but may contain errors and subject to revision. All numbers are approximate and may change with late-reported sales.

Sausalito

How these prices apply to any particular home is unknown without a specific comparative market analysis.

Marin County Home Price Trends – Selected Cities Annual Median House Sales Prices since 2015 2015

2016

2017

2018

2019

Some of these communities have relatively few sales across a wide range of sales prices, which makes their median prices more prone to anomalous fluctuations. Outsized changes in median prices should be treated cautiously until substantiated over the longer term.

2020

2021

2022

2023

2024

2025

The Town of Ross has too few house sales on an annual basis for reliable price-trend analysis. In 2025, its median house price was $3,400,000.

$5,500,000 $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000

$3,783,000 $3,150,000 $3,375,000 $3,225,000 $3,625,000 $4,600,000 $4,300,000 $4,537,500 $5,013,500 $5,350,000 $5,885,000

$2,545,000 $2,265,000 $2,680,000 $2,580,000 $2,670,000 $3,088,888 $3,275,000 $3,725,000 $3,583,000 $3,485,000 $3,625,000

$2,187,500 $2,125,000 $2,560,000 $2,475,000 $2,250,000 $2,900,000 $2,721,500 $3,350,000 $3,325,000 $3,191,000 $3,000,000

$1,480,000 $1,750,000 $1,825,000 $1,860,000 $2,025,000 $2,100,000 $2,287,500 $2,700,000 $2,510,000 $2,575,000 $2,612,500

The median home size of sales in 2025 jumped from what was reported in 2024.

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

Larkspur

Kentfield

Tiburon

Calendar-year sales reported to NorCal MLS Alliance by early January 2026. Median Sales Price is that price at which half the sales occurred for more and half for less. Data from sources deemed reliable but may contain errors and subject to revision. All numbers are approximate and may change with late-reported sales.

Belvedere

Bay Area Median House Values by County 2025 Sales By Bedroom/Bath Count*

More expensive Marin: Ross/Kentfield & South.

More affordable Marin: San Anselmo/San Rafael & North

4 Bedroom, 3 Bath Houses County

5+ Bedroom, 4+ Bath Houses, 3000+ sq.ft.

In alphabetical order

Median Sales Price

Median Square Footage

Median Dollar per Square Foot

Median Sales Price

Alameda County

$1,626,500

2195 sq.ft.

$739/sq.ft.

$2,750,000

Contra Costa More Expensive Marin County More Affordable Marin County

$1,075,000

2338 sq.ft.

$478/sq.ft.

$2,650,000

$2,850,000

2590 sq.ft.

$1118/sq.ft.

$4,850,000

$1,675,000

2430 sq.ft.

$664/sq.ft.

$2,600,000

Napa County

$1,110,000

2307 sq.ft.

$511/sq.ft.

$4,000,000

San Francisco

$2,200,000

2276 sq.ft.

$974/sq.ft.

$5,500,000

San Mateo County

$2,622,500

2310 sq.ft.

$1103/sq.ft.

$6,050,000

Santa Clara County

$2,210,000

2204 sq.ft.

$1023/sq.ft.

$4,620,000

Santa Cruz County

$1,550,000

2182 sq.ft.

$677/sq.ft.

$2,275,000

Solano County

$700,500

2216 sq.ft.

$317/sq.ft.

$966,000

Sonoma County

$920,000

2268 sq.ft.

$423/sq.ft.

$2,055,000

*Sales reported to NorCal MLS Alliance in 2025 through mid-December 2025. Counties contain submarkets of widely varying values. “Fixer-uppers” excluded. Median values fluctuate for reasons besides changes in fair market value. Data from sources deemed reliable but may contain errors and subject to revision. All numbers approximate, and data constantly changes as new sales occur. Not all sales are reported to MLS.

Median Sq.Ft./ Median Lot Size 3869 sq.ft. .25 acre 3983 sq.ft. .37 acre 4330 sq.ft. .50 acre 3734 sq.ft. .36 acre 4456 sq.ft. .54 acre 4270 sq.ft. .07 acre 4545 sq.ft. .51 acre 3991 sq.ft. .31 acre 4122 sq.ft.

1.13 acres 3680 sq.ft. .21 acre 3964 sq.ft. .79 acre

Median Dollar per Square Foot $694/sq.ft. $642/sq.ft. $1089/sq.ft. $650/sq.ft.

$941/sq.ft. $1232/sq.ft. $1375/sq.ft. $1158/sq.ft. $616/sq.ft. $279/sq.ft. $513/sq.ft.

Bay Area Median House Values by County 2025 Sales By Bedroom/Bath Count*

More expensive Marin: Ross/Kentfield & South.

More affordable Marin: San Anselmo/San Rafael & North

2 Bedroom, 1-2 Bath Houses County

3 Bedroom, 2 Bath Houses

Median Sales Price

Median Square Footage

Median Dollar per Square Foot

Median Sales Price

Median Square Footage

Median Dollar per Square Foot

Alameda County

$785,000

1067 sq.ft.

$735/sq.ft.

$1,125,000

1428 sq.ft.

$784/sq.ft.

Contra Costa More Expensive Marin County More Affordable Marin County

$575,000

1019 sq.ft.

$561/sq.ft.

$725,000

1444 sq.ft.

$528/sq.ft.

$1,480,500

1320 sq.ft.

$1197/sq.ft.

1,937,500

1686 sq.ft.

$1131/sq.ft.

$1,012,500

1169 sq.ft.

$892/sq.ft.

$1,258,000

1566 sq.ft.

$790/sq.ft.

Napa County

$787,000

1060 sq.ft.

$775/sq.ft.

$820,000

1447 sq.ft.

$597/sq.ft.

San Francisco

$1,318,000

1188 sq.ft.

$1083/sq.ft.

$1,587,000

1575 sq.ft.

$1005/sq.ft.

San Mateo County

$1,380,000

1080 sq.ft.

$1292/sq.ft.

$1,700,000

1510 sq.ft.

$1153/sq.ft.

Santa Clara County

$1,250,000

1058 sq.ft.

$1197/sq.ft.

$1,725,000

1383 sq.ft.

$1249/sq.ft.

Santa Cruz County

$855,000

1039 sq.ft.

$792/sq.ft.

$1,255,000

1600 sq.ft.

$758/sq.ft.

Solano County

$445,000

1216 sq.ft.

$350/sq.ft.

$549,000

1429 sq.ft.

$388/sq.ft.

Sonoma County

$695,000

1203 sq.ft.

$577/sq.ft.

$799,000

1518 sq.ft.

$532/sq.ft.

In alphabetical order

*Sales reported to NorCal MLS Alliance in 2025 through mid-December 2025. Counties contain submarkets of widely varying values. “Fixer-uppers” excluded. Median values fluctuate for reasons besides changes in fair market value. Data from sources deemed reliable but may contain errors and subject to revision. Numbers approximate, and data constantly changes as new sales occur. Not all sales are reported to MLS.

Bay Area Median Condo & Townhouse Values 2025 Sales By Property Type & Bedroom/Bath Count* 2 Bedroom, 2 Bath Condos

County

More expensive Marin: Ross/Kentfield & South.

More affordable Marin: San Anselmo/San Rafael & North

3 Bedroom, 2-3 Bath Townhouses

In alphabetical order

Median Sales Price

Median Square Footage

Median Dollar per Square Foot

Median Sales Price

Median Square Footage

Median Dollar per Square Foot

Alameda County

$600,000

1078 sq.ft.

$558/sq.ft.

$887,000

1519 sq.ft.

$608/sq.ft.

Contra Costa More Expensive Marin County More Affordable Marin County

$549,500

1134 sq.ft.

$497/sq.ft.

$789,000

1555 sq.ft.

$524/sq.ft.

$975,000

1187 sq.ft.

$831/sq.ft.

$1,480,500

1595 sq.ft.

$891/sq.ft.

$550,000

1112 sq.ft.

$541/sq.ft.

$845,000

1598 sq.ft.

$506/sq.ft.

Napa County

$967,500

1052 sq.ft.

$929/sq.ft.

Too few sales

San Francisco

$1,258,000

1191 sq.ft.

$1051/sq.ft.

Too few sales

San Mateo County

$865,500

1185 sq.ft.

$742/sq.ft.

$1,485,000

1625 sq.ft.

$887/sq.ft.

Santa Clara County

$780,000

1140 sq.ft.

$694/sq.ft.

$1,334,000

1571 sq.ft.

$841/sq.ft.

Santa Cruz County

$772,500

1141 sq.ft.

$652/sq.ft.

$976,000

1531 sq.ft.

$635/sq.ft.

Solano County

$360,000

1036 sq.ft.

$340/sq.ft.

$500,000

1480 sq.ft.

$319/sq.ft.

Sonoma County

$417,000

1065 sq.ft.

$398/sq.ft.

$535,000

1324 sq.ft.

$386/sq.ft.

*Sales reported to NorCal MLS Alliance in 2025 through mid-December 2025. Counties contain submarkets of widely varying values. “Fixer-uppers” excluded. Median values fluctuate for reasons besides changes in fair market value. Data from sources deemed reliable but may contain errors and subject to revision. Numbers approximate, and data constantly changes as new sales occur. Not all sales are reported to MLS.

A satellite image of a bay area AI-generated content may be incorrect.

ZAMIRA SOLARI Results That Move You REALTOR® 415.509.1479 DRE 01328544 zamira.solari@compass.com zamiraknowsmarin.com

ABOUT ZAMIRA

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics – such as “active listings,” “days on market,” and “months supply of inventory” – differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won’t be reflected in the data. “Homes” signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market.

City/town names refer specifically to the named cities and towns or MLS-defined areas, unless otherwise delineated. Multicounty metro areas will be specified as such. Data from sources deemed reliable but may contain errors and subject to revision. All numbers to be considered approximate.

Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, “bonus” rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis.

Median Sales Price is that price at which half the properties sold for more and half for less. It may be affected by seasonality, “unusual” events, or changes in inventory and buying trends, as well as by changes in fair market value. The median sales price for an area will often conceal an enormous variety of sales prices in the underlying individual sales.

Dollar per Square Foot is based upon the home’s interior living space and does not include garages, unfinished attics and basements, rooms built without permit, patios, decks or yards (though all those can add value to a home). These figures are usually derived from appraisals or tax records, but are sometimes unreliable (especially for older homes) or unreported altogether. The calculation can only be made on those home sales that reported square footage.

Photo use under the Creative Commons License: https://creativecommons.org/licenses/by-sa/2.0/ Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.