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
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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 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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