St. Helena, CA | web ID: 0243918
Wine Country Market Update Third 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 Bay Area Real Estate Information Services, sales volume and average sales price of single-family homes were up in the Third Quarter of 2015 compared to Third Quarter 2014 in most Wine Country markets. By comparison, the number of units sold was down in most markets, indicating a decrease in demand as prices rise, and reflective of a balanced market overall. An exception to this is the City of Napa which boasted a 43% increase in units sold between Q3 2014 and Q3 2015, as well as a 69% increase in sales volume and an 18% increase in average sales price during the same period. The damaging Napa earthquake in August 2014 had a negative effect on the market, but the city has clearly begun to rebound. Another exception is the price segment over $1M, which is proving to be a very dynamic market segment in the Wine Country. In this price category, both average sales price and units sold are showing strength. In Petaluma/ Cotati, for instance, average sales price between Q3 2014 and Q3 2015 increased 28% at the same time units sold increased 180%, and, in Sebastopol, average sales price increased 74% while units sold increased 56% during the same time period.
SONOMA VALLEY MARKET SUMMARY (SFH) The Sonoma Valley market for single family homes remains strong. Single family homes sold for 101% of list price. Sales Volume was up 15% from $124,620,835 in Q3 2014 to $143,208,221 in Q3 2015. Particularly noteworthy were sales over $1M, which were up 43% in sales volume Q3 2015 vs. Q3 2014. Average Sales Price for a single family home increased from $890,149 in Q3 2014 to $1,118,814 in Q3 2015, a jump of 12%, and the number of Units Sold over $1M increased 27% Q3 2014 vs. Q3 2015. Sales of single family homes over $1M accounted for 64% of the total market in Sonoma Valley during second quarter 2015.
Q3 2015 SONOMA VALLEY VOLUME 8%
28%
< $500k $500k - $1.0M $1.0M and up
64%
NAPA MARKET SUMMARY (SFH) The market for single family homes in the City of Napa has shown a strong rebound from the damaging effects of the earthquake of August 2014. The number of Units Sold increased by 43% from 174 units in Q3 2014 to 249 units in Q3 2015. Average Sales Price increased 18% from $708,040 in Q3 2014 to $834,964 in Q4 2015. As a result, total Sales Volume for single family homes in the City of Napa increased 69% between Q3 2014 and Q3 2015 from $123,198,877 in Q3 2014 to $207,905,990 in Q3 2015, and even more noteworthy was a 100% increase Sales Volume for homes over $1M from $43,078,160 in Q3 2014 to $86,219,000 in Q3 2015.
Q3 2015 NAPA VOLUME 13%
41%
< $500k $500k - $1.0M $1.0M and up
46%
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SIGNIFICANT SALES Q3 2015
left to right from top to bottom:
SONOMA VALLEY SONOMA | $6,995,000 KENWOOD | $1,425,000 GLEN ELLEN | $949,000 NAPA VALLEY NAPA | $11,500,000 ST. HELENA | $1,800,000 ST. HELENA | $749,000 OTHER MARKETS SANTA ROSA | $3,100,000 FORESTVILLE | $1,495,000 PETALUMA | $1,095,000 sothebyshomes.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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE UP TO $500,000
2012
2013
2014
2015
$327,307
$378,804
$417,302
$431,052
% CHANGE (2015 v 2014)
3%
$900,000 $800,000 $700,000 $600,000 $500,000
$500K - $1M
$662,535
$662,466
$664,372
$671,781
1%
$400,000 $300,000 $200,000
$1,000,000 AND UP
$1,583,916 $1,806,240 $1,595,487 $1,874,326
17%
$100,000 $2012
TOTALS
$485,404
$626,526
$708,040
$834,964
18%
2013
Average List Price
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
184
134
71
61
-14%
$500K - $1M
65
103
76
142
87%
(2015 v 2014)
300 250 200 150 100
$1,000,000 AND UP
16
25
27
46
70%
265
262
174
249
43%
2012
2013
2014
2015
UP TO $500,000
$60,224,536
$50,759,800
$29,628,422
$26,294,150
-11%
$500K - $1M
$43,064,787
$68,234,010
$50,492,295
$95,392,840
89%
$1,000,000 AND UP
$25,342,650
$45,156,000
$43,078,160
$86,219,000
100%
TOTALS
$128,631,973
$164,149,810
$123,198,877 $207,905,990
69%
TOTALS
50 2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000
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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$339,944
$369,174
$404,811
$422,420
4%
$500K - $1M
$724,387
$672,493
$676,215
$677,511
0%
(2015 v 2014)
$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000
$1,000,000 AND UP
$1,634,657 $1,908,650 $1,945,685 $2,186,422
12%
$2012
TOTALS
$618,660
$805,360
$890,149
$1,118,814
2013
Average List Price
26%
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
94
74
44
27
-39%
$500K - $1M
46
56
63
59
-6%
(2015 v 2014)
180 160 140 120 100 80 60
$1,000,000 AND UP
21
36
33
42
27%
TOTALS
161
166
140
128
-9%
2012
2013
2014
2015
$31,954,695
$27,318,842
$17,811,690
$11,405,336
40 20 2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000
% CHANGE (2015 v 2014) -36%
$160,000,000 $140,000,000 $120,000,000 $100,000,000
$500K - $1M
$33,321,790
$37,659,600
$42,601,550
$39,973,167
-6%
$1,000,000 AND UP
$34,327,790
$68,711,388
$64,207,595
$91,829,718
43%
TOTALS
$99,604,275
$133,689,830 $124,620,835 $143,208,221
15%
5
$80,000,000 $60,000,000 $40,000,000 $20,000,000 $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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$354,126
$404,321
$420,586
$448,796
7%
$500K - $1M
$657,968
$660,879
$634,005
$652,619
3%
$1,305,167
$1,341,839
$1,121,600
$1,431,036
28%
$1,000,000 AND UP
(2015 v 2014)
$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $2012
TOTALS
$448,404
$539,482
$544,946
$664,921
2013
Average List Price
22%
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
159
117
117
42
-64%
$500K - $1M
47
84
131
134
2%
(2015 v 2014)
300 250 200 150 100
$1,000,000 AND UP TOTALS
6
7
5
14
180%
212
208
253
190
-25%
2012
2013
2014
2015
$56,306,046
$47,305,598
$49,208,530
$18,849,449
50 2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000
% CHANGE (2015 v 2014) -62%
$160,000,000 $140,000,000 $120,000,000 $100,000,000
$500K - $1M
$30,924,500
$55,513,827
$83,054,701
$87,450,949
5%
$1,000,000 AND UP
$7,831,000
$9,392,870
$5,608,000
$20,034,500
257%
TOTALS
$95,061,546
$112,212,295
$137,871,231
$126,334,898
-8%
$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
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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$364,825
$376,441
$405,565
$401,714
-1%
$500K - $1M
$650,421
$740,764
$707,804
$711,991
1%
$1,000,000 AND UP
$2,011,333
$2,194,567
$1,859,964
$1,945,722
5%
(2015 v 2014)
$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012
TOTALS
$732,914
$1,014,686
$951,827
$1,120,873
2013
Average List Price
18%
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
2012
2013
2014
2015
UP TO $500,000
27
17
13
$500K - $1M
19
25
$1,000,000 AND UP
9
TOTALS
55
% CHANGE
58
(2015 v 2014)
56
7
-46%
54
23
24
4%
15
14
18
29%
57
50
49
-2%
2012
2013
2014
2015
UP TO $500,000
$9,850,270
$6,399,490
$5,272,350
$2,812,000
-47%
$500K - $1M
$12,358,000
$18,519,100
$16,279,500
$17,087,790
5%
$1,000,000 AND UP
$18,102,000
$32,918,500
$26,039,500
$35,023,000
34%
TOTALS
$40,310,270
$57,837,090
$47,591,350
$54,922,790
15%
52 50 48 46 44 2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$70,000,000 $60,000,000 $50,000,000 $40,000,000
7
$30,000,000 $20,000,000 $10,000,000 $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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$305,347
$359,681
$394,121
$412,842
5%
$500K - $1M
$643,595
$669,069
$673,298
$663,550
-1%
$1,488,092 $1,443,725 $1,322,323 $1,504,014
14%
$1,000,000 AND UP
(2015 v 2014)
$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $2012
TOTALS
$389,578
$466,274
$544,470
$595,862
9%
2013
Average List Price
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
2012
2013
2014
2015
UP TO $500,000
439
338
313
$500K - $1M
98
115
$1,000,000 AND UP
11 548
% CHANGE
560
(2015 v 2014)
540
262
-16%
520
160
212
33%
13
34
37
9%
466
507
511
1%
2012
2013
2014
2015
UP TO $500,000
$134,047,450
$121,572,316
$500K - $1M
$63,072,300
$76,942,911
$107,727,679
$140,672,498
31%
$1,000,000 AND UP
$16,369,014
$18,768,421
$44,958,998
$55,648,500
24%
TOTALS
$213,488,764
$217,283,648
$276,046,537
$304,485,656
10%
500
TOTALS
480 460 440 420 2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE
$123,359,860 $108,164,658
% CHANGE (2015 v 2014) -12%
$350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $-
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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$364,307
$395,796
$430,979
$379,125
-12%
$500K - $1M
$647,896
$673,264
$691,238
$720,122
4%
$1,640,353
$1,376,625
$1,347,111
$2,339,251
74%
$1,000,000 AND UP
(2015 v 2014)
$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2012
TOTALS
$658,464
$693,058
$686,999
$1,013,355
2013
Average List Price
48%
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
29
23
24
8
-67%
$500K - $1M
29
69
48
46
-4%
(2015 v 2014)
120 100 80 60 40
$1,000,000 AND UP
9
12
9
14
56%
TOTALS
67
104
81
68
-16%
2012
2013
2014
2015
$10,564,907
$9,103,299
$10,343,490
$3,033,000
20 2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000
% CHANGE (2015 v 2014) -71%
$80,000,000 $70,000,000 $60,000,000 $50,000,000
$500K - $1M
$18,788,979
$46,455,189
$33,179,401
$33,125,615
0%
$1,000,000 AND UP
$14,763,175
$16,519,500
$12,124,000
$32,749,516
170%
TOTALS
$44,117,061
$72,077,988
$55,646,891
$68,908,131
24%
9
$40,000,000 $30,000,000 $20,000,000 $10,000,000 $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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$311,152
$394,223
$402,191
$434,485
8%
$500K - $1M
$588,250
$577,714
$574,586
$578,945
1%
-
-
-
-
-
$324,669
$408,654
$438,870
$489,518
12%
(2015 v 2014)
$600,000 $500,000 $400,000 $300,000 $200,000 $100,000
$1,000,000 AND UP
$2012
TOTALS
2013
Average List Price
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
78
82
74
65
-12%
$500K - $1M
4
7
20
40
100%
(2015 v 2014)
120 100 80 60 40
$1,000,000 AND UP
-
-
-
-
-
82
89
94
105
12%
2012
2013
2014
2015
UP TO $500,000
$24,269,870
$32,326,250
$29,762,100
$28,241,550
-5%
$500K - $1M
$2,353,000
$4,044,000
$11,491,723
$23,157,800
102%
-
-
-
-
-
$26,622,870
$36,370,250
$41,253,823
$51,399,350
25%
TOTALS
20 2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE
% CHANGE (2015 v 2014)
$60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000
$1,000,000 AND UP
$10,000,000 $-
TOTALS
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.
Q3 AVERAGE SALES PRICE (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
$460,000
-
$444,196
$407,525
-8%
$500K - $1M
$724,417
$787,125
$765,385
$781,933
2%
$1,813,000
-33%
(2015 v 2014)
$2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000
$1,000,000 AND UP
$2,486,042 $1,960,857 $2,704,259
$2012
TOTALS
$1,559,420
$1,419,135
$1,884,117
$1,259,153
2013
Average List Price
-33%
2014
2015
Average Sales Price
Q3 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE
% CHANGE
2012
2013
2014
2015
UP TO $500,000
1
-
3
2
-33%
$500K - $1M
12
12
13
15
15%
(2015 v 2014)
45 40 35 30 25 20 15
$1,000,000 AND UP TOTALS
12
14
23
16
-30%
10
-15%
-
5
25
26
39
33
2012
2013
2014
2015
$460,000
-
$1,332,588
$815,050
2012
2013
2014
2015
Q3 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000
% CHANGE (2015 v 2014) -39%
$80,000,000 $70,000,000 $60,000,000 $50,000,000
$500K - $1M
$8,693,000
$9,445,500
$9,950,000
$11,729,000
18%
$1,000,000 AND UP
$29,832,500
$27,452,000
$62,197,966
$29,008,000
-53%
TOTALS
$38,985,500
$36,897,500
$73,480,554
$41,552,050
-43%
$40,000,000 $30,000,000 $20,000,000 $10,000,000 $-
11
2012
2013
2014
2015
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SONOMA VALLEY SONOMA | Web: 0243814 | $6,795,000 SONOMA | Web: 0243928 | $2,995,000 GLEN ELLEN | Web: 0243370 | $2,495,000 NAPA VALLEY NAPA | Web: 1190288 | $12,975,000 ST. HELENA | Web: 0243910 | $11,950,000 NAPA | Web: 1190282 | $1,895,000 OTHER MARKETS STEWARTS POINT | Web: 0087403 | $6,000,000 WINDSOR | Web: 0087328 | $2,950,000 HEALDSBURG | Web: 0243828 | $2,150,000 sothebysrealty.com
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METROPOLITAN MARKETS NEW YORK, NY | Web: 0137863 | $3,595,000 HOUSTON, TX | Web: 1250373 | $3,495,000 LOS ANGELES, CA | Web: 0308403 | $3,495,000 RESORT MARKETS MALIBU, CA | Web: 0355397 | $3,795,000 SAG HARBOR, NY | Web: 0044470 | $3,750,000 CARMEL, CA | Web: 0474004 | $3,395,000 FOREIGN MARKETS GREECE | Web: WWKHD2 | $3,584,229 SOUTH AFRICA | Web: JGDBB6 | $3,526,931 SPAIN | Web: SJ836H | $3,640,233 sothebysrealty.com
AUCTION CALENDAR OCTOBER | NOVEMBER 2015 American Paintings, Drawings and Sculpture New York 02 Oct Modern and Contemporary Asian Art Evening Sale Hong Kong 04 Oct Photographs New York 07 Oct RM Sotheby’s: Hershey Hershey 08 – 09 Oct Property from a Distinguished Private Asian Collection New York 15 Oct Château Margaux 1900–2010 Direct From The Cellars: A Celebration of the Mentzelopoulos Era New York 17 Oct Collections: European Decorative Arts New York 17 Oct The Creative Genius of Sam Simon: A Lifetime of Memorabilia New York 22 Oct Impressionist & Modern Art Evening Sale New York 05 Nov Contemporary Art Evening Auction New York 11 Nov
American Art New York 18 Nov Latin America: Modern Art Latin America: Contemporary Art New York 19 – 20 Nov Prints & Multiples New York 23 – 24 Nov
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© 2015 Andy Warhol Foundation for the Visual Arts / Artists Rights Society (ARS), New York
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