Marin County Market Update | Q3 2014

Ross, CA | web: 0086863 Photography by Jacob Elliott

Marin County Market Update Third Quarter 2014 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 OUR MANAGER: Jeffrey G. Gibson The third quarter of 2014 sales prices in Marin County remained strong when compared to the third quarter of 2013 according to the Bay Area Real Estate Information Services (BAREIS). The market trends in San Francisco carried over into Marin County, with many areas in the county seeing a double digit rise in the average sales price for single family homes. Overall, the county saw an 11 percent increase, moving up from $1,233,176 in Q3 2013 to $1,367,742 in Q3 2014.

A MESSAGE FROM OUR MANAGER: Jeffrey G. Gibson

While prices rose in response to the inventory shortage throughout the county, this also led to a 12 percent decline in the total number of homes sold in Marin County.

Home sales dropped from 704 units sold in Q3 2013, to 620 units sold in Q3 2014.

The increase in average sales prices and reduced number of sales kept the total sales volume almost flat at $847,999,792 in Q4 2014, a 2 percent decline from Q3 2013.

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 average sales price increased 11 percent, going from $1,233,176 in Q3 2013 to $1,367,742 in Q3 2014. The total number of homes sold fell from 704 units in Q3 2013 to 620 units in Q3 2014, a 12 percent decrease. The total sales volume experienced a modest 2 percent decrease, going from $868,155,747 in Q3 2013 to $847,999,792 in Q3 2014. There was a lot of movement for homes priced above $3 million. In particular, the total number of sales for homes priced above $3 million nearly doubled, moving up from 21 units in Q3 2013 to 40 units in Q3 2014, a 90 percent increase.

Q3-2014 - MARIN COUNTY VOLUME

21%

26% < $1.0M $1.0M - $3.0M $3.0M and up

53%

SAN RAFAEL MARKET SUMMARY (SFH) Low inventory across San Rafael contributed to a decline in both the total number of sales and total closed volume. in the third quarter of 2014. There was a 20 percent drop in total sales, down from 149 units in Q3 2013 to 119 units in Q3 2014 and a 10 percent decrease in total sales volume, falling from $135,372,279 in Q3 2013 to $121,590,750 in Q3 2014. Since 2010, the average sales price has steadily increased every third quarter. The lack of inventory throughout the city helped the average sales price eclipse $1 million ($1,021,771), increasing 12 percent from Q3 2013 to Q3 2014.

Q3-2014 - SAN RAFAEL VOLUME 6% < $1.0M

49%

59%

$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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2011

2012

2013

2014

$639,688

$649,328

$713,979

$747,617

5%

$1 - $3 MILLION

$1,543,065

$1,523,154

$1,576,260

$1,603,609

2%

$3 MILLION AND UP

$4,002,883 $4,241,000

UP TO $1 MILLION

(2014 v 2013)

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

TOTALS

$1,006,878

$980,326

$6,006,432 $4,346,205 $1,233,176

$1,367,742

-28%

$600,000 $400,000 $200,000 $2011

2012

Average List Price

11%

2013

2014

Average Sales Price

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

% CHANGE

2011

2012

2013

2014

UP TO $1 MILLION

358

461

388

299

-23%

600

$1 - $3 MILLION

139

191

295

281

-5%

400

19

15

21

40

90%

516

667

704

620

-12%

2011

2012

2013

2014

UP TO $1 MILLION

$229,008,302

$299,340,211

$277,024,039

$223,537,350

-19%

$1 - $3 MILLION

$214,486,065

$450,614,252

-3%

$3 MILLION AND UP

$76,054,769

$173,848,190

38%

$3 MILLION AND UP

TOTALS

(2014 v 2013)

800 700 500 300 200 100 2011

2012

2013

2014

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2014 v 2013)

$1,000,000,000 $900,000,000 $800,000,000 $700,000,000 $600,000,000

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

$500,000,000 $400,000,000 $300,000,000

$63,615,000

$126,135,070

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

TOTALS

3

$519,549,136

$653,877,695

$868,155,747

$847,999,792

-2%

$2011

2012

2013

2014

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

2011

2012

2013

2014

$744,580

$750,997

$829,898

$800,758

-4%

$1 - $3 MILLION

$1,536,433

$1,540,463

$1,572,979

$1,611,451

2%

$3 MILLION AND UP

$4,850,000

$3,858,750

$4,760,000

$4,334,167

-9%

UP TO $1 MILLION

TOTALS

$1,166,716

$1,213,950

$1,338,110 $1,622,429

(2014 v 2013)

$1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2011

2012

Average List Price

21%

2013

2014

Average Sales Price

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

% CHANGE

2011

2012

2013

2014

UP TO $1 MILLION

35

56

34

19

-44%

$1 - $3 MILLION

30

47

59

60

2%

(2014 v 2013)

120 100 80 60 40

1

4

1

6

500%

66

107

94

85

-10%

2011

2012

2013

2014

UP TO $1 MILLION

$26,060,288

$42,055,850

$28,216,530

$1 - $3 MILLION

$46,093,000

$72,401,780

$3 MILLION AND UP

$4,850,000

$15,435,000

TOTALS

$77,003,288

$129,892,630

$3 MILLION AND UP

TOTALS

20 2011

2012

2013

2014

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2014 v 2013)

$160,000,000

$15,214,400

-46%

$120,000,000

$92,805,787

$96,687,050

4%

$4,760,000

$26,005,000

446%

$125,782,317 $137,906,450

10%

$140,000,000

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

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

2011

2012

2013

2014

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.

Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2011

2012

2013

2014

UP TO $1 MILLION

$685,000

$742,257

$847,000

$900,000

6%

$1 - $3 MILLION

$1,652,441

$1,528,341

$1,958,310

$1,936,379

-1%

$3 MILLION AND UP

$4,527,256

$4,790,000

$6,476,443

$5,062,045

-22%

(2014 v 2013)

$3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2011

TOTALS

$1,803,931

$1,797,771

$2,488,348

$2,889,120

2012

Average List Price

16%

2013

2014

Average Sales Price

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

% CHANGE

40

2011

2012

2013

2014

UP TO $1 MILLION

5

7

1

1

0%

$1 - $3 MILLION

17

17

27

23

-15%

20

$3 MILLION AND UP

3

4

4

11

175%

10

9%

-

TOTALS

25

(2014 v 2013)

28

32

35

2011

2012

2013

2014

UP TO $1 MILLION

$3,425,000

$5,195,800

$847,000

$900,000

6%

$1 - $3 MILLION

$28,091,500

$25,981,800

$52,874,363

$44,536,711

-16%

$3 MILLION AND UP

$13,581,769

$19,160,000

$25,905,770

$55,682,500

115%

$45,098,269

$50,337,600

$79,627,133

$101,119,211

27%

35 30 25

15

5 2011

2012

2013

2014

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2014 v 2013)

$120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000

TOTALS

5

$20,000,000 $2011

2012

2013

2014

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

2011

2012

2013

2014

UP TO $1 MILLION

$789,600

$858,200

$680,000

$727,500

7%

$1 - $3 MILLION

$1,566,167

$1,681,563

$1,735,622

$1,803,429

4%

$3 MILLION AND UP

$3,200,000

$3,575,000

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

(2014 v 2013)

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

-24%

$2011

TOTALS

$1,441,222

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

$1,755,405

2012

Average List Price

-16%

2013

2014

Average Sales Price

Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE UP TO $1 MILLION

2011

2012

2013

2014

5

5

3

5

% CHANGE (2014 v 2013)

25 20

67% 15

12

8

15

14

-7%

1

1

3

2

-33%

18

14

21

21

0%

2011

2012

2013

2014

UP TO $1 MILLION

$3,948,000

$4,291,000

$2,040,000

$3,637,500

78%

$1 - $3 MILLION

$18,794,000

$13,452,500

$26,034,333

$25,248,000

-3%

$3 MILLION AND UP

$3,200,000

$3,575,000

$15,723,000

$7,978,000

-49%

$1 - $3 MILLION $3 MILLION AND UP

TOTALS

10 5 2011

2012

2013

2014

Q3 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2014 v 2013)

$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

$25,942,000

$21,318,500

$43,797,333 $36,863,500

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

-16%

$2011

2012

2013

2014

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

2011

2012

2013

2014

$912,143

$853,057

$802,500

n/a

% CHANGE (2014 v 2013)

$3,500,000

n/a

$2,500,000

$3,000,000 $2,000,000

$1 - $3 MILLION

$1,722,628

$1,889,968

$1,994,419

$2,070,340

4%

$3 MILLION AND UP

$3,856,083 $4,289,000

$6,295,525

$3,915,906

-38%

$1,500,000 $1,000,000 $500,000 $2011

TOTALS

$2,175,538 $2,000,126

$2,931,331

$2,732,851

2012

Average List Price

-7%

2013

2014

Average Sales Price

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

% CHANGE

2011

2012

2013

2014

7

7

4

-

-100%

$1 - $3 MILLION

25

31

34

25

-26%

$3 MILLION AND UP

12

5

12

14

17%

TOTALS

44

43

50

39

-22%

2011

2012

2013

2014

UP TO $1 MILLION

$6,385,000

$5,971,400

$3,210,000

-

$1 - $3 MILLION

$43,065,690

$3 MILLION AND UP

$46,273,000

TOTALS

$95,723,690 $86,005,400 $146,566,550 $106,581,190

UP TO $1 MILLION

(2014 v 2013)

60 50 40 30 20 10 2011

2012

2013

2014

Q3 CLOSED VOLUME (SFH) PRICE RANGE

7

$58,589,000 $21,445,000

$67,810,250 $75,546,300

$51,758,500 $54,822,690

% CHANGE (2014 v 2013)

$160,000,000 $140,000,000

-100%

$120,000,000

-24%

$80,000,000

-27%

$40,000,000

$100,000,000

$60,000,000

$20,000,000

-27%

$2011

2012

2013

2014

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

2011

2012

2013

2014

$646,785

$653,661

$739,362

$777,552

5%

$1 - $3 MILLION

$1,304,083

$1,349,695

$1,402,712

$1,423,216

1%

$3 MILLION AND UP

$4,075,000 $4,000,000

n/a

$5,950,000

n/a

UP TO $1 MILLION

(2014 v 2013)

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

TOTALS

$776,118

$779,199

$908,539

$1,021,771

$2011

2012

Average List Price

12%

2013

2014

Average Sales Price

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

% CHANGE

160

2011

2012

2013

2014

100

112

111

81

-27%

120

$1 - $3 MILLION

12

19

38

37

-3%

80

$3 MILLION AND UP

2

1

-

1

n/a

40

114

132

149

119

-20%

-

2011

2012

2013

2014

$64,678,450

$73,210,060

$82,069,234

$62,981,750

UP TO $1 MILLION

TOTALS

(2014 v 2013)

140

100

60

20 2011

2012

2013

2014

Q3 CLOSED VOLUME (SFH) PRICE RANGE UP TO $1 MILLION

% CHANGE (2014 v 2013) -23%

160,000,000 140,000,000 120,000,000 100,000,000

$1 - $3 MILLION

$15,649,000

$25,644,200

$53,303,045

$52,659,000

-1%

80,000,000 60,000,000

$3 MILLION AND UP

TOTALS

$8,150,000

$4,000,000

-

$5,950,000

n/a

40,000,000 20,000,000

$88,477,450 $102,854,260 $135,372,279 $121,590,750

SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco

-10%

2011

2012

2013

2014

8

FEATURED PROPERTIES

MILL VALLEY TUSCAN Web ID: 0086815 | $3,500,000 Strawberry area of Mill Valley. Entertainers home, secluded, sunny with views. Great commute location. MillValleyTuscan.com David Ogden | 415.308.5025

UPPER LUCAS VALLEY MODERN Web ID: 0086917 $2,675,000 Modern approx. 5,200 sq.ft. 4bd/3.5ba estate set among rolling hills. Separate artists loft, pool, greenbelt views. 20Westgate.com Craig Swanson | 415.901.1751

THE LAGOON LIFE Web ID: 0086851 | $2,200,000 Stinson Beach home with a luxurious master suite and an updated kitchen and dining area that opens onto a deck and a private diving dock.

Butch Haze | 415.296.2220

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