Sonoma, CA | web ID: 1190196
Wine Country Market Update First Quarter 2015 SONOMA & NAPA - WINE COUNTRY BROKERAGES 25 East Napa Street, Sonoma | t: 707.935.2288 722 Broadway Street, Sonoma | t: 707.939.2230 428 First Street East, Sonoma | t: 707.939.4460
sothebyshomes.com
All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS)
A MESSAGE FROM OUR MANAGER: Jonathan Soh
A MESSAGE FROM OUR MANAGER: Jonathan Soh
According to the Bay Area Real Estate Information Services, a seasonal slowdown was noted during the first quarter of 2015. Historic low inventories resulted in a decline in sales volume in many Wine Country markets with the exception of the City of Napa which had a robust first quarter of 2015 where total sales volume increased by 42% during Q1 2015 vs. Q1 2014. This was largely due to pent up demand that was a direct result from a dramatic decline in sales during the third and fourth quarters of 2014, attributed to the damaging Napa earthquake in August 2014. The City of Healdsburg also showed a 22% increase in sales volume for properties over $1M while the City of Santa Rosa experienced static growth between Q1 2014 and Q1 2015 where average sales price, number of units and total sales volume all remained constant.
SONOMA VALLEY MARKET SUMMARY (SFH) The Sonoma Valley market experienced a decline during the first quarter of 2015 compared to its neighboring Wine Country communities. Average sales price decreased by 17%, down from $924,563 in Q1 2014 to $770,878 in Q1 2015. The total number of units decreased by 6% from 85 units in Q1 2014 to 80 units in Q1 2015. Consequently, the total sales volume decreased by 22% in Sonoma Valley from $78,587,836 in Q1 2014 to $61,670,270 in Q1 2015. This market will continue to be monitored to determine whether a market adjustment is occurring, or merely a seasonal blip.
- SONOMA VALLEY VOLUME Q1Q1-2015 2015 SONOMA VALLEY VOLUME
20% < $500k
46%
$500k - $1.0M $1.0M and up
34%
NAPA (SFH) The City of Napa is showing a strong recovery from the August 2014 earthquake, boasting a robust first quarter of 2015. Average sales price for single-family homes was up $95,949, a 16% increase from $607,395 in Q1 2014 to $703,344 in Q1 2015. The total number of homes sold in the City of Napa increased by 23% across all price ranges, from 136 units in Q1 2014 to 167 units in Q1 2015. Total sales volume increased 42% overall, from $82.6 million in Q1 2014 to $117.5 million in Q1 2015. Most notable is the $1.0M+ price category which experienced a 104% increase from Q1 2014 to Q1 2015.
Q1 2015 NAPA VOLUME Q1-2015 - NAPA VOLUME
26%
33%
< $500k $500k - $1.0M $1.0M and up
42%
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SIGNIFICANT SALES Q1 2015
left to right from top to bottom:
SONOMA VALLEY SONOMA | $1,999,000 SONOMA | $1,499,000 SONOMA | $1,150,000 NAPA VALLEY OAKVILLE | $7,900,000 CALISTOGA | $1,995,000 NAPA | $1,150,000 OTHER MARKETS PETALUMA | $1,995,000 SANTA ROSA | $819,000 THE SEA RANCH | $430,000 sothebysrealty.com
NAPA
SINGLE FAMILY HOME SALES The City of Napa, at the southern end of Napa Valley, was incorporated in 1872, and reincorporated again in 1874 as the City of Napa. Napa became the primary business and economic center for the Napa Valley by the early 20th century. Napa is a world-class destination for wine country excursions with tasting bars and large wineries, including the Michael Mondavi Family Estate and the Domaine Carneros winery.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
2012
2013
2014
2015
UP TO $500,000
$293,583
$336,076
$379,699
$500K - $1M
$657,828
$678,031
$669,050
% CHANGE (2015 v 2014)
$800,000
$403,942
6%
$600,000
$670,788
0%
$700,000 $500,000 $400,000 $300,000 $200,000
$1,000,000 AND UP
$1,899,615 $1,432,000
$1,561,717
TOTALS
$458,754
$607,395
$486,113
$2,010,279 $703,344
29%
$100,000 $2012
16%
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
250
2012
2013
2014
2015
UP TO $500,000
158
127
66
75
14%
$500K - $1M
37
50
58
73
26%
$1,000,000 AND UP
13
10
12
19
58%
50
208
187
136
167
23%
-
2012
2013
2014
2015
UP TO $500,000
$46,386,112
$42,681,621
$25,060,151
$30,295,636
21%
$500K - $1M
$24,339,653
$33,901,550
$38,804,920
$48,967,499
26%
$1,000,000 AND UP
$24,695,000
$14,320,000
$18,740,600
$38,195,295
104%
TOTALS
$95,420,765
$90,903,171
$82,605,671
$117,458,430
42%
(2015 v 2014)
200 150
TOTALS
100
2012
2013
2014
2015
Q1 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 $20,000,000
SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate
$2012
2013
2014
2015
4
SONOMA VALLEY
SINGLE FAMILY HOME SALES
Approximately 40 miles north of San Francisco, Sonoma real estate is perfectly situated to maximize residentsâ&#x20AC;&#x2122; quality of life. Although world-renowned as a wine mecca, Sonoma maintains the tight-knit feel of a small community, with a charming downtown. In 1846, the California Republic declared its independence from Mexico, with Sonoma named the capital of this shortlived sovereign state. Consequently, Sonoma is known as the birthplace of California, a town rich in history surrounded by breathtaking natural beauty.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$322,345
$341,683
$374,747
$399,408
7%
$500K - $1M
$690,379
$692,052
$677,519
$675,823
0%
$1,000,000 AND UP TOTALS
$2,587,508
$1,493,178
(2015 v 2014)
$2,095,571 $1,574,340
-25%
$924,563
-17%
$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012
$708,620
$576,111
$770,878
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
57
50
29
31
7%
$500K - $1M
29
22
35
31
-11%
(2015 v 2014)
120 100 80 60 40
$1,000,000 AND UP
12
10
21
18
-14%
TOTALS
98
82
85
80
-6%
2012
2013
2014
2015
UP TO $500,000
$18,373,649
$17,084,150
$10,867,663
$12,381,650
14%
$500K - $1M
$20,021,000
$15,225,150
$23,713,173
$20,950,500
-12%
20 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000
$1,000,000 AND UP
$31,050,100
$14,931,775
$44,007,000
$28,338,120
-36%
TOTALS
$69,444,749
$47,241,075
$78,587,836
$61,670,270
-22%
5
$20,000,000 $10,000,000 $2012
2013
2014
2015
PETALUMA and COTATI
SINGLE FAMILY HOME SALES
The towns of Petaluma and Cotati offer a little slice of California history to all who come to sample their Victorian delights. Petaluma offers many colorful family events that provide opportunities to escape the everyday hustle and bustle of life. The Great Petaluma Mill, which stands guard over the west bank, is one of the oldest structures in town. Cotati provides an eclectic assortment of restaurants, shops and services, and has one of only two hexagonally designed town plazas in the United States.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$324,420
$371,994
$404,934
$426,349
5%
$500K - $1M
$614,960
$607,097
$621,855
$637,502
3%
$1,080,000
$1,347,000
$1,225,500
$1,137,500
-7%
$384,116
$473,458
$550,402
$543,788
-1%
(2015 v 2014)
$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000
$1,000,000 AND UP
$100,000 $2012
TOTALS
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
147
101
50
54
8%
$500K - $1M
35
44
64
55
-14%
1
5
4
2
-50%
183
150
118
111
-6%
2012
2013
2014
2015
UP TO $500,000
$47,689,668
$37,571,429
$20,246,711
$23,022,840
14%
$500K - $1M
$21,523,600
$26,712,250
$39,798,727
$35,062,600
-12%
$1,000,000 AND UP
$1,080,000
$6,735,000
$4,902,000
$2,275,000
-54%
(2015 v 2014)
200 180 160 140 120
$1,000,000 AND UP
100 80 60 40 20
TOTALS
2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000
TOTALS
$70,293,268
$71,018,679
$64,947,438 $60,360,440
$$(10,000,000)
-7%
SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate
6
HEALDSBURG
SINGLE FAMILY HOME SALES
The quaint hamlet of Healdsburg, located at the gateway of Sonoma Countyâ&#x20AC;&#x2122;s diverse wine growing region, is just 75 miles north of San Francisco. Healdsburg is a vibrant community with world-wide recognition as a popular destination for visitors looking to experience the American Tuscany. It is a welcome retreat, catering to its visitors and residents with first class hotels, spas, restaurants and boutiques. Many Victorian and Craftsman style homes reflect the towns rich 150 year old heritage.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE UP TO $500,000
2012
2013
2014
2015
$329,196
$369,418
$393,308
$436,400
% CHANGE (2015 v 2014)
$1,400,000
11%
$1,000,000
$1,200,000
$800,000
$500K - $1M
$697,650
$664,317
$747,125
$731,237
-2%
$1,000,000 AND UP
$3,345,750 $2,220,833
$1,716,517
$2,016,830
17%
TOTALS
$722,965
$855,675
$1,139,861
33%
$600,000 $400,000 $200,000 $2012
$754,872
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
26
20
13
5
-62%
$500K - $1M
10
12
16
15
-6%
$1,000,000 AND UP
4
6
9
11
22%
(2015 v 2014)
45 40 35 30 25 20 15
TOTALS
10 5
40
38
38
31
2012
2013
2014
2015
$8,559,100
$7,388,350
$5,113,000
$2,182,000
-18%
2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000
% CHANGE (2015 v 2014) -57%
$40,000,000 $35,000,000 $30,000,000 $25,000,000
$500K - $1M
$6,976,500
$7,971,800
$11,954,000
$10,968,550
-8%
$1,000,000 AND UP
$13,383,000
$13,325,000
$15,448,650
$22,185,133
44%
TOTALS
$28,918,600
$28,685,150
$32,515,650
$35,335,683
9%
7
$20,000,000 $15,000,000 $10,000,000 $5,000,000 $2012
2013
2014
2015
SANTA ROSA
SINGLE FAMILY HOME SALES With over 150,000 residents, Santa Rosa is the largest city in Sonoma County and serves as the areaâ&#x20AC;&#x2122;s cultural and economic hub. The vibrant downtown is home to some of the best shopping, restaurants, nightclubs and shows in the County. With a thriving arts and performing arts scene, Santa Rosa is also home to the Museum of Contemporary Art, the Sonoma County Museum, the Santa Rosa Symphony, and the Luther Burbank Home and Gardens. Santa Rosa real estate enjoys a relatively cosmopolitan environment, with many of the quaint smaller towns of Sonoma County just a sort ride away.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$281,729
$325,009
$378,916
$402,531
6%
$500K - $1M
$672,305
$659,977
$671,221
$638,567
-5%
$1,000,000 AND UP
$1,065,147 $1,292,875
$1,718,460
$1,517,871
-12%
TOTALS
$335,871
$537,967
$555,438
3%
(2015 v 2014)
$600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $2012
$408,863
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
377
273
209
186
-11%
$500K - $1M
52
63
90
99
10%
$1,000,000 AND UP
4
8
18
21
17%
433
344
317
306
-3%
2012
2013
2014
2015
UP TO $500,000
$106,211,899
$88,727,387
$79,193,452
$500K - $1M
$34,959,864
$41,578,525
$1,000,000 AND UP
$4,260,586
TOTALS
$145,432,349
(2015 v 2014)
500 450 400 350 300 250 200 150 100 50
TOTALS
2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$180,000,000
$74,870,707
-5%
$140,000,000
$60,409,903
$63,218,100
5%
$10,343,000
$30,932,275
$31,875,295
3%
$140,648,912
$170,535,630
$169,964,102
0%
$160,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $-
SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate
2012
2013
2014
2015
8
SEBASTOPOL
SINGLE FAMILY HOME SALES
Located ten miles from Bodega Bay, Sebastopol real estate sits on the western edge of the Santa Rosa plain. Sebastopol has a rich history as an apple growing region, and although apples have all but been completely supplanted by wine grapes, the town still celebrates its roots with the annual Apple Blossom Festival and Gravenstein Apple Fair. While exuding quaint small town charm, Sebastopol is also recognized as being one of the most politically progressive towns in Northern California.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$340,526
$326,698
$366,423
$422,750
15%
$500K - $1M
$683,385
$586,696
$681,186
$712,905
5%
-
-
$1,166,667
$1,313,789
13%
(2015 v 2014)
$800,000 $700,000 $600,000 $500,000 $400,000
$1,000,000 AND UP
$300,000 $200,000 $100,000 $2012
TOTALS
$439,574
$448,738
$626,280
$714,551
2013
Average List Price
14%
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
32
26
13
4
-69%
$500K - $1M
13
23
32
19
-41%
(2015 v 2014)
60 50 40 30 20
$1,000,000 AND UP
-
-
3
2
-33%
45
49
48
25
-48%
2012
2013
2014
2015
UP TO $500,000
$10,896,818
$8,494,155
$4,763,500
$1,691,000
-65%
$500K - $1M
$8,884,000
$13,494,000
$21,797,950
$13,545,200
-38%
$-
$-
$3,500,000
$2,627,577
-25%
$19,780,818
$21,988,155
$30,061,450
$17,863,777
-41%
TOTALS
10 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$35,000,000 $30,000,000 $25,000,000 $20,000,000
$1,000,000 AND UP TOTALS
9
$15,000,000 $10,000,000 $5,000,000 $2012
2013
2014
2015
ROHNERT PARK
SINGLE FAMILY HOME SALES As one of the first planned cities in America, Rohnert Park is thoughtfully designed to maximize the comfort and happiness of its citizens. Neighborhoods cater to families, with large Rohnert Park homes along tree-lined streets and each individual community built around a park and elementary school. Rohnert Park is also home to the beautiful campus of Sonoma State University.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
$260,056
$349,802
$398,879
$416,888
5%
$500K - $1M
-
-
$518,500
$558,988
8%
$1,000,000 AND UP
-
-
-
-
-
$260,056
$349,802
$412,170
$443,955
8%
UP TO $500,000
(2015 v 2014)
$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $2012
TOTALS
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
57
50
29
31
7%
$500K - $1M
29
22
35
31
-11%
(2015 v 2014)
120 100 80 60 40
$1,000,000 AND UP
12
10
21
18
-14%
TOTALS
98
82
85
80
-6%
2012
2013
2014
2015
UP TO $500,000
$18,373,649
$17,084,150
$10,867,663
$500K - $1M
$20,021,000
$15,225,150
$1,000,000 AND UP
$31,050,100
TOTALS
$69,444,749
20 2012
2013
2014
2015
Q1 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$90,000,000
$12,381,650
14%
$70,000,000
$23,713,173
$20,950,500
-12%
$14,931,775
$44,007,000
$28,338,120
-36%
$47,241,075
$78,587,836
$61,670,270
-22%
$80,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000
SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate
$2012
2013
2014
2015
10
ST. HELENA
SINGLE FAMILY HOME SALES
Located north of Napa, Yountville and Oakville, St. Helena is referred to as the heart of Napa Valley. St. Helena has a population of just 5,000 people, spans approximately four square miles and is home to some of the best wineries, restaurants and shopping in Wine Country as well as some of the most exquisite estate properties in Wine Country.
Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$429,500
$401,667
$475,000
-
#VALUE!
$500K - $1M
$691,733
$730,353
$783,857
$723,556
-8%
$1,000,000 AND UP
$2,161,667
$2,556,333
$2,118,750
-17%
TOTALS
$1,506,250
$1,332,811
$871,481
(2015 v 2014)
$2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012
$1,704,059
$1,281,633
-25%
2013
Average List Price
2014
2015
Average Sales Price
Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
4
3
1
-
-100%
$500K - $1M
6
17
7
9
29%
(2015 v 2014)
30 25 20 15 10
$1,000,000 AND UP TOTALS
9
6
19
9
6
26
17
15
2012
2013
2014
2015
$1,718,000
$1,205,000
$475,000
$-
-33% -12%
5 2012
Q1 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000
% CHANGE (2015 v 2014)
$35,000,000
-100%
$25,000,000
$30,000,000 $20,000,000
$500K - $1M
$4,150,400
$12,416,000
$5,487,000
$6,512,000
19%
$1,000,000 AND UP
$19,455,000
$9,037,500
$23,007,000
$12,712,500
-45%
$15,000,000 $10,000,000 $5,000,000 $$(5,000,000)
TOTALS
11
$25,323,400
$22,658,500
$28,969,000
$19,224,500
-34%
2013
2014
2015
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SONOMA VALLEY SONOMA | Web: 0243639 | $4,750,000 KENWOOD | Web: 0243783 | $2,950,000 GLEN ELLEN | Web: 0243370 | $2,695,000 NAPA VALLEY ST. HELENA | Web: 0243666 | $11,995,000 NAPA | Web: 1190209 | $3,050,000 NAPA | Web: 0243706 | $899,000 OTHER MARKETS SANTA ROSA | Web: 0243797 | $4,695,000 HEALDSBURG | Web: 0087068 | $3,435,000 PETALUMA | Web: 0243810 | $1,275,000 sothebysrealty.com
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METROPOLITAN MARKETS BROOKLYN, NY | Web: 0137422 | $3,000,000 HOUSTON, TX | Web: 1240193 | $3,125,000 SAN FRANCISCO, CA | Web: 0087107 | $3,000,000 RESORT MARKETS MALIBU, CA | Web: 0343640 | $3,450,000 PALM BEACH, FL | Web: 0076552 | $2,995,000 SANTA BARBARA, CA | Web: 0632331 | $3,495,000 FOREIGN MARKETS ARGENTINA | Web: YMBRP8 | $3,700,000 ITALY | Web: T9LLLE | $3,006,550 ISRAEL | Web: VW4J7F | $3,534,996 sothebysrealty.com
Claes Oldenburg, Screwarch Bridge (State III); Aquatint, etching and monoprint in colors, 1981; Estimate $30,000-50,000
AUCTION CALENDAR MAY 2015 Prints & Multiples New York 01-02 May RM Sotheby’s: The Andrews Collection Fort Worth 02 May Impressionist & Modern Art Evening Sale New York 05 May Impressionist & Modern Art Day Sale New York 06 May Finest & Rarest Wines New York 08-09 May Magnificent Jewels & Noble Jewels Geneva 12 May Contemporary Art Evening Auction New York 12 May Important Watches Geneva 13 May Important Chinese Works of Art London 13 May Contemporary Art Day Auction New York 13 May
Sotheby’s | Stack’s Bowers Galleries The D. Brent Pogue Collection of Early United States Coins — Sale 1 New York 19 May Finest & Rarest Wines London 20 May American Art New York 20 May Design Paris 21 May Photographs London 23 May Latin American Art Modern & Contemporary New York 26-27 May Impressionist & Modern Art New York 27 May Music, Continental & Russian Books & Manuscripts London 28 May
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