Belvedere, CA | web: 0088107
Marin County Market Update Third Quarter 2016 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 Limited inventory throughout Marin had an impact on the number of single-family homes sold in every area and price range in the third quarter of 2016, according to the Bay Area Real Estate Information Services (BAREIS). The average sales price stayed relatively flat at an average of $1.43 million, but the number of single-family homes sold fell. Total closed sales were down 19 percent, from 627 units sold in the third quarter of 2015 to 509 units sold in the third quarter of 2016. Additionally, the average sales price for single-family homes sold at $3 million and above fell from $5.79 million in Q3 2015 to $4.18 million in the third quarter of 2016—a 28 percent decrease.
SAN FRANCISCO BROKERAGE
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.
117 Greenwich Street San Francisco, CA 94111 t. 415.901.1700
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Q3-2016 MARIN COUNTY VOLUME 17%
Q3-2016 MILL VALLEY VOLUME 11% 3%
21%
< $1.0M
< $1.0M
$1.0M - $3.0M
$1.0M - $3.0M
$3.0M and up
$3.0M and up
85%
62%
MARIN COUNTY MARKET SUMMARY (SFH) Q3-2016 - ROSS & KENTFIELD VOLUME 3% 37%
< $1.0M $1.0M - $3.0M $3.0M and up
60%
With total sales of single family homes down and average sales prices remaining flat throughout Marin, the total sales volume fell 21 percent, from $928,001,337 in the third quarter of 2015 to $728,946,732 in the third quarter of 2016. While total sales volume was down throughout Marin, areas like Mill Valley, Ross and Kenfield stayed flat compared year over year. Mill Valley had a total sales volume of $135,719,963 in the third quarter of 2016. Ross and Kentfield had a total sales volume of $66,287,650 in the thid quarter of 2016.
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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 countyâ&#x20AC;&#x2122;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
2013
2014
2015
2016
$713,979
$747,617
$778,492
$1 - $3 MILLION
$1,576,260
$1,603,609
$3 MILLION AND UP
$6,006,432 $4,346,205
UP TO $1 MILLION
% CHANGE (2016 v 2015)
$1,600,000
$794,118
2%
$1,200,000
$1,584,769
$1,566,676
-1%
$5,789,054
$4,176,500
-28%
$1,400,000 $1,000,000 $800,000
TOTALS
$1,233,176
$1,367,742 $1,480,066
$1,432,115
$600,000 $400,000 $200,000 $2013
2014
Average List Price
-3%
2015
2016
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2013
2014
2015
2016
UP TO $1 MILLION
388
299
290
190
-34%
$1 - $3 MILLION
295
281
297
289
-3%
21
40
40
30
-25%
704
620
627
509
-19%
2013
2014
2015
2016
UP TO $1 MILLION
$277,024,039
$223,537,350
$225,762,733
$150,882,466
-33%
$1 - $3 MILLION
$464,996,638
$450,614,252
$470,676,464
$452,769,266
-4%
$3 MILLION AND UP
$126,135,070
$173,848,190
$231,562,140
$125,295,000
-46%
$3 MILLION AND UP
TOTALS
(2016 v 2015)
1,000 900 800 700 600 500 400 300 200 100 2013
2014
2015
2016
Q3 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2016 v 2015)
$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 $200,000,000 $100,000,000
TOTALS
3
$868,155,747
$847,999,792
$928,001,337
$728,946,732
-21%
$2013
2014
2015
2016
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
2013
2014
2015
2016
UP TO $1 MILLION
$829,898
$800,758
$821,575
$1 - $3 MILLION
$1,572,979
$1,611,451
$3 MILLION AND UP
$4,760,000
$4,334,167
% CHANGE (2016 v 2015)
$2,000,000
$925,000
13%
$1,500,000
$1,660,466
$1,705,220
3%
$3,632,143
$3,785,000
4%
$1,000,000
TOTALS
$1,338,110
$1,622,429
$1,654,863
$1,762,597
$500,000 $2013
2014
Average List Price
7%
2015
2016
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
2013
2014
2015
2016
34
19
17
5
% CHANGE (2016 v 2015)
100 90 80
UP TO $1 MILLION
-71%
70 60
59
60
58
68
17%
1
6
7
4
-43%
94
85
82
77
-6%
2013
2014
2015
2016
UP TO $1 MILLION
$28,216,530
$15,214,400
$13,966,775
$4,625,000
-67%
$1 - $3 MILLION
$92,805,787
$96,687,050
$96,307,005
$115,954,963
20%
$3 MILLION AND UP
$4,760,000
$26,005,000
$25,425,000
$15,140,000
-40%
$137,906,450 $135,698,780
$135,719,963
0%
$1 - $3 MILLION $3 MILLION AND UP
50 40 30 20 10
TOTALS
2013
2014
2015
2016
Q3 CLOSED VOLUME (SFH) PRICE RANGE
TOTALS
$125,782,317
SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
% CHANGE (2016 v 2015)
$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 2013
2014
2015
2016
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 UP TO $1 MILLION
2013
2014
2015
2016
$847,000
$900,000
$800,000
$962,000
% CHANGE (2016 v 2015)
20%
$3,500,000 $3,000,000 $2,500,000 $2,000,000
$1 - $3 MILLION
$1,958,310
$1,936,379
$1,873,250
$1,871,819
0%
$3 MILLION AND UP
$6,476,443
$5,062,045
$4,568,080
$5,003,750
10%
$2,488,348
$2,889,120
$2,692,666
$2,882,072
7%
$1,500,000 $1,000,000 $500,000 $2013
TOTALS
2014
Average List Price
2015
2016
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
40
2013
2014
2015
2016
1
1
1
2
100%
30
$1 - $3 MILLION
27
23
16
13
-19%
20
$3 MILLION AND UP
4
11
8
8
0%
10
-8%
-
UP TO $1 MILLION
TOTALS
32
(2016 v 2015)
35
25
23
2013
2014
2015
2016
$847,000
$900,000
$800,000
$1,924,000
141%
$1 - $3 MILLION
$52,874,363
$44,536,711
$29,972,000
$24,333,650
-19%
$3 MILLION AND UP
$25,905,770
$55,682,500
$36,544,640
$40,030,000
10%
TOTALS
$79,627,133
$101,119,211
$67,316,640
$66,287,650
-2%
35
25
15
5 2013
2014
2015
2016
Q3 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2016 v 2015)
$120,000,000 $100,000,000
UP TO $1 MILLION
$80,000,000 $60,000,000 $40,000,000
5
$20,000,000 $2013
2014
2015
2016
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
2013
2014
2015
2016
UP TO $1 MILLION
$680,000
$727,500
$900,000
$660,000
-27%
$1 - $3 MILLION
$1,735,622
$1,803,429
$2,207,429
$1,654,333
-25%
$3 MILLION AND UP
$5,241,000
$3,989,000
n/a
$3,145,000
n/a
TOTALS
$2,085,587
$1,755,405
$2,120,267
$1,819,917
-14%
(2016 v 2015)
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $2013
2014
Average List Price
2015
2016
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
2013
2014
2015
2016
3
5
1
1
% CHANGE
25
(2016 v 2015)
20
UP TO $1 MILLION
0% 15
$1 - $3 MILLION
15
14
14
9
-36%
$3 MILLION AND UP
3
2
n/a
2
n/a
TOTALS
21
21
15
12
-20%
10 5 2013
2014
2015
2016
Q3 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE
2013
2014
2015
2016
UP TO $1 MILLION
$2,040,000
$3,637,500
$900,000
$660,000
-27%
$1 - $3 MILLION
$26,034,333
$25,248,000
$30,904,000
$14,889,000
-52%
$3 MILLION AND UP
$15,723,000
$7,978,000
n/a
$6,290,000
n/a
(2016 v 2015)
$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
$43,797,333
$36,863,500
$31,804,000
SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
$21,839,000
-31%
$2013
2014
2015
2016
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
% CHANGE
2013
2014
2015
2016
UP TO $1 MILLION
$802,500
n/a
n/a
n/a
n/a
$1 - $3 MILLION
$1,994,419
$2,070,340
$2,154,333
$2,002,786
-7%
$3 MILLION AND UP
$6,295,525
$3,915,906
$7,171,023
$4,007,167
-44%
(2016 v 2015)
$5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $2013
TOTALS
$2,931,331
$2,732,851 $4,553,620
$2,604,100
2014
Average List Price
-43%
2015
2016
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
2013
2014
2015
2016
4
n/a
n/a
$1 - $3 MILLION
34
25
$3 MILLION AND UP
12
TOTALS
50
UP TO $1 MILLION
% CHANGE
70
(2016 v 2015)
60
n/a
n/a
50
24
28
17%
14
22
12
-45%
39
46
40
-13%
40 30 20 10 2013
2014
2015
2016
Q3 CLOSED VOLUME (SFH) PRICE RANGE
2013
2014
2015
2016
$3,210,000
n/a
n/a
n/a
% CHANGE
$250,000,000
(2016 v 2015)
$200,000,000
UP TO $1 MILLION
n/a $150,000,000
$1 - $3 MILLION
$67,810,250
$51,758,500
$51,704,000
$56,078,000
8%
$3 MILLION AND UP
$75,546,300
$54,822,690
$157,762,500
$48,086,000
-70%
$146,566,550
$106,581,190
$209,466,500
$104,164,000
-50%
TOTALS
7
$100,000,000 $50,000,000 $2013
2014
2015
2016
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
2013
2014
2015
2016
$739,471
$775,259
$817,363
$831,180
2%
$1,392,386
$1,436,026
$1,351,926
$1,341,566
-1%
$5,950,000 $3,030,000
$4,124,000
36%
(2016 v 2015)
$1,200,000 $1,000,000
UP TO $1 MILLION
$800,000 $600,000
$1 - $3 MILLION
$400,000 $200,000
$3 MILLION AND UP
n/a
$2013
TOTALS
$905,901
$1,021,470
$1,036,531
$1,127,067
2014
Average List Price
9%
2015
2016
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2013
2014
2015
2016
UP TO $1 MILLION
114
84
94
50
-47%
$1 - $3 MILLION
39
38
59
55
-7%
(2016 v 2015)
180 160 140 120 100 80 60
$3 MILLION AND UP
n/a
1
1
1
0%
TOTALS
153
123
154
106
-31%
2013
2014
2015
2016
UP TO $1 MILLION
$84,299,734
$65,121,750
$76,832,081
$41,559,000
-46%
$1 - $3 MILLION
$54,303,045
$54,569,000
$79,763,634
$73,786,145
-7%
n/a
$5,950,000
$3,030,000
$4,124,000
36%
40 20 2013
2014
2015
2016
Q3 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2016 v 2015)
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
138,602,779
125,640,750
159,625,715
SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
119,469,145
-25%
2013
2014
2015
2016
8
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