Tiburon, CA | web: 0087324
Marin County Market Update First Quarter 2015 SAN FRANCISCO BROKERAGE 117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700
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All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS)
A MESSAGE FROM OUR MANAGER: Jeffrey G. Gibson In the first quarter of 2015, Marin County’s sales prices continued their year-overyear steady increase, according to the Bay Area Real Estate Information Services (BAREIS). The steep trajectory observed in Marin County in the last year has moderated to a two percent increase between Q1 in 2014 and Q1 2015. This has resulted in single-family home prices remaining elevated at an average closed sales price of $1.4 million. The National Association of Realtors projects this two percent price increase to be observed nationwide between now and Q2 2015 as well. Mirroring the San Francisco Market, Marin County had a decrease in inventory, which, when coupled with the current high demand, boosted the average sales price. While the number of closed transactions spiked to almost twenty percent higher than the previous year in some towns such as in Kentfield and Ross, other areas saw a minimal increase in homes sold or even experienced a decline. Sausalito had a 40 percent reduction in closed transactions between Q1 2014 and Q1 2015, while San Rafael conversely saw a five percent increase. The following charts depict market details of Marin County, Mill Valley, Ross, Kentfield, Sausalito, Tiburon, Belvedere and San Rafael.
MARIN COUNTY MARKET SUMMARY (SFH) In Marin County, the number of closed transactions dropped 11 percent from the previous year, with 416 transactions in Q1 2014 to 372 transactions in Q1 2015. The total sales volume remained relatively stable, due to the increase in home sales prices. Overall, the closed volume did experience a decrease of 9 percent, with homes in the $3 million and higher range making the largest percentage adjustment. Transactions in the $1 million to $3 million range held the largest share of the county’s sales volume at 52 percent, with a volume share of $272,265,980.
Q1-2015 - MARIN COUNTY VOLUME
22%
26% < $1.0M $1.0M - $3.0M $3.0M and up
52%
ROSS & KENTFIELD SUMMARY (SFH) Combined, Ross and Kentfield demonstrated strong positive market trends, with a 48 percent increase in total volume, comparing the first quarter of 2014 and Q1 2015. The average sales price of SFH jumped 24 percent- from $2,290,313 in 2014 to $2,847,361 in 2015, and the number of units sold in $1-3 million price range rose significantly with a 40 percent increase. The intense growth of the market in Ross and Kentfield contradicted the leveling found in many other markets. Overall, the closed volume amount for Ross and Kentfield totaled $54,099,850 in Q1 2015, in comparison to the $36,645,000 in Q1 of 2014.
Q1-2015 - ROSS & KENTFIELD VOLUME 0% < $1.0M
48%
52%
$1.0M - $3.0M $3.0M and up
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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.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
2012
2013
2014
2015
$578,264
$696,374
$719,776
$1 - $3 MILLION
$1,552,248
$1,549,906
$3 MILLION AND UP
$4,254,607
$4,264,525
UP TO $1 MILLION
% CHANGE (2015 v 2014)
$1,600,000
$759,902
6%
$1,200,000
$1,567,028
$1,630,335
4%
$4,304,579
$4,516,940
5%
$1,400,000 $1,000,000 $800,000
TOTALS
$944,853
$1,057,965
$1,379,210
$1,403,150
$600,000 $400,000 $200,000 $2012
2013
Average List Price
2%
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $1 MILLION
307
286
215
180
-16%
$1 - $3 MILLION
109
132
163
167
2%
14
12
38
25
-34%
430
430
416
372
-11%
2012
2013
2014
2015
UP TO $1 MILLION
$177,527,070
$199,162,841
$154,751,912
$136,782,349
-12%
$1 - $3 MILLION
$169,195,085
$204,587,617
$255,425,645
$272,265,980
7%
$3 MILLION AND UP
$59,564,500
$51,174,300
$163,574,000
$112,923,500
-31%
$406,286,655
$454,924,758
$573,751,557
$521,971,829
-9%
$3 MILLION AND UP
TOTALS
(2015 v 2014)
440 430 420 410 400 390 380 370 360 350 340 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$700,000,000 $600,000,000 $500,000,000 $400,000,000
TOTALS
3
$300,000,000 $200,000,000 $100,000,000 $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.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $1 MILLION
$722,083
$774,516
$810,833
$841,833
4%
$1 - $3 MILLION
$1,470,731
$1,461,783
$1,554,501
$1,645,915
6%
$3 MILLION AND UP
$3,312,500 $3,526,500
$4,199,857
$3,508,571
-16%
TOTALS
$1,196,038
$1,129,701
$1,675,198
$1,708,685
(2015 v 2014)
$1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012
2013
Average List Price
2%
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
62
2012
2013
2014
2015
UP TO $1 MILLION
24
35
15
12
-20%
$1 - $3 MILLION
26
23
39
35
-10%
54
2
2
7
7
0%
50
52
60
61
54
-11%
46
2012
2013
2014
2015
UP TO $1 MILLION
$17,330,000
$27,108,050
$12,162,500
$10,102,000
-17%
$1 - $3 MILLION
$38,239,000
$33,621,000
$60,625,553
$57,607,015
-5%
$3 MILLION AND UP
TOTALS
(2015 v 2014)
60 58 56
52
48 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000
$3 MILLION AND UP
$6,625,000
$7,053,000
$29,399,000
$24,560,000
-16%
$62,194,000
$67,782,050
$102,187,053
$92,269,015
-10%
$20,000,000 $-
TOTALS
SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
2012
2013
2014
2015
4
ROSS and KENTFIELD
SINGLE FAMILY HOME SALES
The quaint 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.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
$672,500
$960,000
$827,500
n/a
n/a
$1 - $3 MILLION
$1,832,500
$1,726,181
$1,858,500
$2,000,346
8%
$3 MILLION AND UP
$4,525,000
$4,516,667
$4,101,250
$5,219,000
27%
TOTALS
1,894,583
$2,106,445
$2,290,313
$2,847,361
24%
UP TO $1 MILLION
(2015 v 2014)
$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
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE UP TO $1 MILLION
2012
2013
2014
2015
4
1
2
-
% CHANGE (2015 v 2014)
25 20
n/a 15
$1 - $3 MILLION
6
16
10
14
40%
$3 MILLION AND UP
2
3
4
5
25%
5
TOTALS
12
20
16
19
19%
-
2012
2013
2014
2015
UP TO $1 MILLION
$2,690,000
$960,000
$1,655,000
n/a
n/a
$1 - $3 MILLION
$10,995,000
$27,618,890
$18,585,000
$28,004,850
51%
$3 MILLION AND UP
$9,050,000
$13,550,000
$16,405,000
$26,095,000
59%
$22,735,000
$42,128,890
$36,645,000 $54,099,850
48%
10
2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000
TOTALS
5
$10,000,000 $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.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $1 MILLION
$697,200
$750,975
$607,500
$545,000
-10%
$1 - $3 MILLION
$1,756,750
$1,826,667
$1,413,193
$1,853,750
31%
n/a
$4,101,300
3,985,000
-
n/a
(2015 v 2014)
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000
$3 MILLION AND UP
$2012
TOTALS
$1,349,231
$1,573,150
$1,991,582 $1,708,333
-14%
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $1 MILLION
5
4
2
1
-50%
$1 - $3 MILLION
8
3
9
8
-11%
$3 MILLION AND UP
-
1
4
-
n/a
TOTALS
13
(2015 v 2014)
8
15
9
-40%
2012
2013
2014
2015
UP TO $1 MILLION
$3,486,000
$3,003,900
$1,215,000
$545,000
-55%
$1 - $3 MILLION
$14,054,000
$5,480,000
$12,718,734
$14,830,000
17%
$-
$4,101,300
$15,940,000
n/a
n/a
$17,540,000
$12,585,200
$29,873,734
$15,375,000
-49%
16 14 12 10 8 6 4 2 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$35,000,000 $30,000,000 $25,000,000 $20,000,000
$3 MILLION AND UP
TOTALS
SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
$15,000,000 $10,000,000 $5,000,000 $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.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $1 MILLION
$844,625
$791,000
$945,000
n/a
n/a
$1 - $3 MILLION
$1,793,199
$1,818,458
$2,121,638
$2,203,145
4%
$3 MILLION AND UP
$4,741,357
$4,659,000
$4,509,182
1%
(2015 v 2014)
$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000
TOTALS
$2,288,576
$2,257,633
$4,460,000 $3,198,319
$1,500,000 $1,000,000 $500,000 $2012
$3,142,641
2013
Average List Price
-2%
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE UP TO $1 MILLION $1 - $3 MILLION $3 MILLION AND UP
TOTALS
% CHANGE
40
2012
2013
2014
2015
4
1
1
-
n/a
23
24
19
16
-16%
20
7
5
18
11
-39%
10
-29%
-
34
30
38
27
2012
2013
2014
2015
UP TO $1 MILLION
$3,378,500
$791,000
$945,000
$1 - $3 MILLION
$41,243,585
$43,643,000
$3 MILLION AND UP
$33,189,500
TOTALS
$77,811,585
(2015 v 2014)
35 30 25
15
5 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE
$140,000,000
(2015 v 2014)
$120,000,000
-
n/a
$100,000,000
$40,311,130
$35,250,315
-13%
$23,295,000
$80,280,000
$49,601,000
-38%
$67,729,000
$121,536,130
$84,851,315
-30%
$80,000,000
7
$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.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $1 MILLION
$577,090
$714,493
$759,280
$738,276
-3%
$1 - $3 MILLION
$1,618,091
$1,430,512
$1,425,630
$1,372,252
-4%
$3,000,000
$3,175,000
n/a
n/a
n/a
(2015 v 2014)
$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000
$3 MILLION AND UP
TOTALS
$720,120
$889,111
$921,804
$966,802
$2012
2013
Average List Price
5%
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $1 MILLION
85
72
62
55
-11%
$1 - $3 MILLION
11
19
20
31
55%
(2015 v 2014)
100 95 90 85 80
1
1
-
-
n/a
97
92
82
86
5%
2012
2013
2014
2015
UP TO $1 MILLION
$49,052,683
$51,443,496
$47,075,352
$40,605,206
-14%
$1 - $3 MILLION
$17,799,000
$27,179,730
$28,512,600
$42,539,800
49%
$3 MILLION AND UP
$3,000,000
$3,175,000
$-
$-
n/a
TOTALS
69,851,683
81,798,226
75,587,952
83,145,006
10%
$3 MILLION AND UP
TOTALS
75 70 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE
85,000,000
(2015 v 2014)
80,000,000 75,000,000
SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
70,000,000 65,000,000 60,000,000 2012
2013
2014
2015
8
FEATURED PROPERTIES
ROSS Web ID: 0086863 | $10,500,000 This 6 bedroom, 6 and a half bath villa sits on an approx. flat acre. A coveted location that is close to town, the Lagunitas Tennis Club, and Ross and Branson Schools. RossGoldCoast.com Isobel Wiener, Danielle Chavanon | 415.730.5556
BELVEDERE Web ID: 0087121 | $3,995,000 Waterfront masterpiece. Remodeled 5 bedroom, 4 and a half baths with views. Approx. 4,836 sq.ft. 83WestShore.com Kara Warrin | 415.407.7979
SAN RAFAEL Web ID: 0087290 | $1,495,000 Eichler Extraordinaire. 5 bedroom, 2.5 bath located on cul-de-sac. Extensively remodeled from the inside out. Tyler Stewart | 415.519.2434
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