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
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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%
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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.
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
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