TRENDING | MARKET UPDATE Q3 2015 MARIN COUNTY

Ross, CA | web: 0086863

Marin County Market Update Third Quarter 2015 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 In the third quarter of 2015, Marin County’s real estate market remained steady in the under $3 million range, according to data pulled from the Bay Area Real Estate Information Services (BAREIS). However, the over $3 million range soared, driven largely by the County’s record-breaking sale of Locksley Hall in Belvedere at $47.5 million. Total closed volume for all of Marin County from Q3 2014 to Q3 2015 increased 9% from $847,999,792 to $928,001,337. 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.

MARIN COUNTY MARKET SUMMARY (SFH) While the upward movement for all of Marin County between Q3 2012 - Q3 2013 was steep, the overall closed volume between Q3 2014 and Q3 2015 maintained a high elevation. Notably, the price for a single family home sold over the $3 million mark rose from an average of $4,346,205 to $5,789,054, a price expansion of 33 percent. Each town in the county experienced different variations of expansion and retraction though San Rafael in particular, best showcased the overall trend of inventory constricting under the $1M mark, while homes between the $1M - $3M are becoming more readily available.

Q3-2015 MARIN COUNTY VOLUME

24%

25%

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

51%

TIBURON AND BELVEDERE SUMMARY (SFH) The momentous sale of the Julia Morgan designed “Locksley hall” in Belvedere contributed in part to the astronomical numbers found in Tiburon and Belvedere in Q3 of 2015. At a closing price of $47.5 million, this transaction was a record breaking close for the entire county, and spiked the closed volume for properties over $3M by 188 percent from Q3 the previous year.

Along with this, transactions closed in Tiburon and Belvedere which were under $1M were null, yet the number of closed transactions above $3M significantly jumped up by 57 percent.

Q2-2015 - TIBURON & BELVEDERE VOLUME

25%

0%

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

75%

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 county’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

2012

2013

2014

2015

UP TO $1 MILLION

$649,328

$713,979

$747,617

$1 - $3 MILLION

$1,523,154

$1,576,260

$1,603,609

$3 MILLION AND UP

$4,241,000

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

% CHANGE (2015 v 2014)

$1,600,000

$778,492

4%

$1,200,000

$1,584,769

-1%

$5,789,054

33%

$1,400,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012

TOTALS

$980,326

$1,233,176

$1,367,742

1,480,066

2013

Average List Price

8%

2014

2015

Average Sales Price

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

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

461

388

299

290

-3%

$1 - $3 MILLION

191

295

281

297

6%

$3 MILLION AND UP

15

21

40

40

0%

667

704

620

627

1%

2012

2013

2014

2015

UP TO $1 MILLION

$299,340,211

$277,024,039

$223,537,350

$225,762,733

1%

$1 - $3 MILLION

$290,922,484 $464,996,638

$450,614,252

$470,676,464

4%

$173,848,190

$231,562,140

33%

TOTALS

(2015 v 2014)

1,000 900 800 700 600 500 400 300 200 100 2012

2013

2014

2015

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

$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

$3 MILLION AND UP

$63,615,000

$126,135,070

$200,000,000 $100,000,000

TOTALS

3

$653,877,695

$868,155,747

$847,999,792

$928,001,337

9%

$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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

$750,997

$829,898

$800,758

$821,575

3%

$1 - $3 MILLION

$1,540,463

$1,572,979

$1,611,451

$1,660,466

3%

$3 MILLION AND UP

$3,858,750 $4,760,000

$4,334,167

$3,632,143

-16%

UP TO $1 MILLION

TOTALS

$1,213,950

$1,338,110

$1,622,429 $1,654,863

(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

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

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

56

34

19

17

-11%

$1 - $3 MILLION

47

59

60

58

-3%

(2015 v 2014)

120 100 80 60 40

4

1

6

7

17%

107

94

85

82

-4%

2012

2013

2014

2015

UP TO $1 MILLION

$42,055,850

$28,216,530

$15,214,400

$13,966,775

-8%

$1 - $3 MILLION

$72,401,780

$92,805,787

$96,687,050

$96,307,005

0%

$3 MILLION AND UP

$15,435,000

$4,760,000

$26,005,000

$25,425,000

-2%

$129,892,630

$125,782,317

$137,906,450

$135,698,780

-2%

$3 MILLION AND UP

TOTALS

20 2012

2013

2014

2015

Q3 CLOSED VOLUME (SFH) PRICE RANGE

TOTALS

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

% CHANGE (2015 v 2014)

$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 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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

$742,257

$847,000

$900,000

$800,000

-11%

$1 - $3 MILLION

$1,528,341

$1,958,310

$1,936,379

$1,873,250

-3%

$3 MILLION AND UP

$4,790,000

$6,476,443

$5,062,045

$4,568,080

-10%

$1,797,771

$2,488,348

$2,889,120

$2,692,666

-7%

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

TOTALS

2013

Average List Price

2014

2015

Average Sales Price

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

% CHANGE

40

2012

2013

2014

2015

UP TO $1 MILLION

7

1

1

1

0%

$1 - $3 MILLION

17

27

23

16

-30%

20

$3 MILLION AND UP

4

4

11

8

-27%

10

-29%

-

TOTALS

28

(2015 v 2014)

32

35

25

2012

2013

2014

2015

$5,195,800

$847,000

$900,000

$800,000

-11%

$1 - $3 MILLION

$25,981,800

$52,874,363

$44,536,711

$29,972,000

-33%

$3 MILLION AND UP

$19,160,000

$25,905,770

$55,682,500

$36,544,640

-34%

TOTALS

$50,337,600

$79,627,133

$101,119,211

$67,316,640

-33%

35 30 25

15

5 2012

2013

2014

2015

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

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

UP TO $1 MILLION

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

5

$20,000,000 $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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

$858,200

$680,000

$727,500

$900,000

24%

$1 - $3 MILLION

$1,681,563

$1,735,622

$1,803,429

$2,207,429

22%

$3 MILLION AND UP

$3,575,000

$5,241,000 $3,989,000

n/a

n/a

(2015 v 2014)

$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2012

TOTALS

$1,522,750 $2,085,587

$1,755,405 $2,120,267

2013

Average List Price

21%

2014

2015

Average Sales Price

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

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

5

3

5

1

-80%

$1 - $3 MILLION

8

15

14

14

0%

$3 MILLION AND UP

1

3

2

n/a

n/a

14

21

21

15

-29%

2012

2013

2014

2015

UP TO $1 MILLION

$4,291,000

$2,040,000

$3,637,500

$900,000

-75%

$1 - $3 MILLION

$13,452,500

$26,034,333

$25,248,000

$30,904,000

22%

$3 MILLION AND UP

$3,575,000

$15,723,000

$7,978,000

n/a

n/a

25

(2015 v 2014)

20 15

TOTALS

10 5 2012

2013

2014

2015

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

$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

$21,318,500

$43,797,333

36,863,500

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

$31,804,000

-14%

$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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE UP TO $1 MILLION $1 - $3 MILLION

% CHANGE

2012

2013

2014

2015

$853,057

$802,500

n/a

n/a

n/a

$1,889,968

$1,994,419

$2,070,340

$2,154,333

4%

(2015 v 2014)

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

$3 MILLION AND UP

$4,289,000

$6,295,525

$3,915,906

$7,171,023

83%

$2012

TOTALS

$2,000,126

$2,931,331

$2,732,851

$4,553,620

2013

Average List Price

67%

2014

2015

Average Sales Price

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

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

7

4

n/a

n/a

n/a

$1 - $3 MILLION

31

34

25

24

-4%

$3 MILLION AND UP

5

12

14

22

57%

43

50

39

46

18%

TOTALS

(2015 v 2014)

70 60 50 40 30 20 10 2012

2013

2014

2015

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

$5,971,400

$3,210,000

n/a

n/a

n/a

$1 - $3 MILLION

$58,589,000

$67,810,250

$51,758,500

$51,704,000

0%

$3 MILLION AND UP

$21,445,000

$75,546,300

$54,822,690

$157,762,500

188%

TOTALS

86,005,400

146,566,550

$106,581,190

$209,466,500

97%

UP TO $1 MILLION

(2015 v 2014)

$250,000,000 $200,000,000 $150,000,000

7

$100,000,000 $50,000,000 $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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

$653,380

$739,471

$775,259

$817,363

5%

$1 - $3 MILLION

$1,349,695

$1,392,386

$1,436,026

$1,351,926

-6%

$3 MILLION AND UP

$4,000,000

n/a

5,950,000

$3,030,000

-49%

(2015 v 2014)

$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012

TOTALS

$775,267

$905,901

$1,021,470

$1,036,531

1%

2013

Average List Price

2014

2015

Average Sales Price

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

% CHANGE

2012

2013

2014

2015

UP TO $1 MILLION

116

114

84

94

12%

$1 - $3 MILLION

19

39

38

59

55%

(2015 v 2014)

180 160 140 120 100 80 60

$3 MILLION AND UP

1

-

1

1

0%

40 20

TOTALS

136

153

123

154

25%

2012

2013

2014

2015

UP TO $1 MILLION

$75,792,060

$84,299,734

$65,121,750

$76,832,081

18%

$1 - $3 MILLION

$25,644,200

$54,303,045

$54,569,000

$79,763,634

46%

$3 MILLION AND UP

$4,000,000

n /a

$5,950,000

$3,030,000

-49%

TOTALS

105,436,260

2012

2013

2014

2015

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2015 v 2014)

180,000,000 160,000,000 140,000,000 120,000,000 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000

138,602,779

125,640,750

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

159,625,715

27%

2012

2013

2014

2015

8

FEATURED PROPERTIES

STINSON BEACH Web ID: 0087202 | $12,000,000 This house is solid, yet elegantly transparent, due to expansive windows and an open floor plan provides sea views throughout. The Seadrift enclave offers the finest beach lifestyle in Northern California.

Jon Taylor and Gloria Smith | 415.722.2812

TIBURON Web ID: 0087559 | $3,395,000 At the end of one of Tiburonâ&#x20AC;&#x2122;s best streets is a serene cul-de-sac leading to the secluded circular driveway of this one of a kind home, providing its owners luxurious seclusion, breathtaking panoramic views, and idyllic indoor-outdoor living.

Paul Warrin and Kara Warrin | 415.407.7979

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

AN EXQUISITE DIAMOND DESERVES AN EXCLUSIVE SETTING.

Collection available for purchase at Sotheby’s Diamonds salons and exclusive exhibitions worldwide.

New York +1 212 894 1400 | London +44 20 7293 6430 | Hong Kong +852 2822 8113 | sothebysdiamonds.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015