marin county market report | q1 2015

All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS)

Marin County Market UpdateFirst Quarter 2015SAN FRANCISCO BROKERAGE

117 Greenwich Street

San Francisco, CA 94111

t. 415.901.1700

sothebyshomes.com

Tiburon, CA | web: 0087324

http://www.sothebyshomes.com/San-Francisco-Real-Estate/sales/0087324

http://www.sothebyshomes.com/San-Francisco-Real-Estate

A MESSAGE FROM OUR MANAGER: Jeffrey G. Gibson In the first quarter of 2015, Marin County’s sales prices continued their year-over-year steady increase, according to the Bay Area Real Estate Information Services (BAREIS). The steep trajectory observed in Marin County in the last year has moderated to a two percent increase between Q1 in 2014 and Q1 2015. This has resulted in single-family home prices remaining elevated at an average closed sales price of $1.4 million. The National Association of Realtors projects this two percent price increase to be observed nationwide between now and Q2 2015 as well.

Mirroring the San Francisco Market, Marin County had a decrease in inventory, which, when coupled with the current high demand, boosted the average sales price. While the number of closed transactions spiked to almost twenty percent higher than the previous year in some towns such as in Kentfield and Ross, other areas saw a minimal increase in homes sold or even experienced a decline. Sausalito had a 40 percent reduction in closed transactions between Q1 2014 and Q1 2015, while San Rafael conversely saw a five percent increase. The following charts depict market details of Marin County, Mill Valley, Ross, Kentfield, Sausalito, Tiburon, Belvedere and San Rafael.

MARIN COUNTY MARKET SUMMARY (SFH)

ROSS & KENTFIELD SUMMARY (SFH)

In Marin County, the number of closed transactions

dropped 11 percent from the previous year, with 416

transactions in Q1 2014 to 372 transactions in Q1 2015.

The total sales volume remained relatively stable, due

to the increase in home sales prices. Overall, the closed

volume did experience a decrease of 9 percent, with

homes in the $3 million and higher range making the

largest percentage adjustment. Transactions in the $1

million to $3 million range held the largest share of the

county’s sales volume at 52 percent, with a volume share

of $272,265,980.

Combined, Ross and Kentfield demonstrated strong

positive market trends, with a 48 percent increase in total

volume, comparing the first quarter of 2014 and Q1 2015.

The average sales price of SFH jumped 24 percent- from

$2,290,313 in 2014 to $2,847,361 in 2015, and the number

of units sold in $1-3 million price range rose significantly

with a 40 percent increase. The intense growth of the

market in Ross and Kentfield contradicted the leveling

found in many other markets. Overall, the closed volume

amount for Ross and Kentfield totaled $54,099,850 in Q1

2015, in comparison to the $36,645,000 in Q1 of 2014.

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

26%

52%

22%

Q1-2015 - MARIN COUNTY VOLUME

< $1.0M

$1.0M - $3.0M

$3.0M and up

0%

52%48%

Q1-2015 - ROSS & KENTFIELD VOLUME

< $1.0M

$1.0M - $3.0M

$3.0M and up

http://www.sirsanfranciscomanager.com/

3

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.

MARIN COUNTY

PRICE RANGE 2012 2013 2014 2015 % CHANGE(2015 v 2014)

UP TO $1 MILLION 307 286 215 180 -16%

$1 - $3 MILLION 109 132 163 167 2%

$3 MILLION AND UP 14 12 38 25 -34%

TOTALS 430 430 416 372 -11%

Q1 CLOSED UNITS: # OF SIDES (SFH)


UP TO $1 MILLION $177,527,070 $199,162,841 $154,751,912 $136,782,349 -12%

$1 - $3 MILLION $169,195,085 $204,587,617 $255,425,645 $272,265,980 7%

$3 MILLION AND UP $59,564,500 $51,174,300 $163,574,000 $112,923,500 -31%

TOTALS $406,286,655 $454,924,758 $573,751,557 $521,971,829 -9%

Q1 CLOSED VOLUME (SFH)


UP TO $1 MILLION $578,264 $696,374 $719,776 $759,902 6%

$1 - $3 MILLION $1,552,248 $1,549,906 $1,567,028 $1,630,335 4%

$3 MILLION AND UP $4,254,607 $4,264,525 $4,304,579 $4,516,940 5%

TOTALS $944,853 $1,057,965 $1,379,210 $1,403,150 2%

Q1 AVERAGE SALES PRICE (SFH)

$- $200,000 $400,000 $600,000 $800,000

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

2012 2013 2014 2015

Average List Price Average Sales Price

340 350 360 370 380 390 400 410 420 430 440

2012 2013 2014 2015

$-

$100,000,000

$200,000,000

$300,000,000

$400,000,000

$500,000,000

$600,000,000

$700,000,000

2012 2013 2014 2015




4SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco


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 Valley’s idyllic location beneath Mount Tamalpais and

its ease of access to San Francisco has made it a popular home for many

commuters.

MILL VALLEY


UP TO $1 MILLION 24 35 15 12 -20%

$1 - $3 MILLION 26 23 39 35 -10%

$3 MILLION AND UP 2 2 7 7 0%

TOTALS 52 60 61 54 -11%



UP TO $1 MILLION $17,330,000 $27,108,050 $12,162,500 $10,102,000 -17%

$1 - $3 MILLION $38,239,000 $33,621,000 $60,625,553 $57,607,015 -5%

$3 MILLION AND UP $6,625,000 $7,053,000 $29,399,000 $24,560,000 -16%

TOTALS $62,194,000 $67,782,050 $102,187,053 $92,269,015 -10%



UP TO $1 MILLION $722,083 $774,516 $810,833 $841,833 4%

$1 - $3 MILLION $1,470,731 $1,461,783 $1,554,501 $1,645,915 6%

$3 MILLION AND UP $3,312,500 $3,526,500 $4,199,857 $3,508,571 -16%

TOTALS $1,196,038 $1,129,701 $1,675,198 $1,708,685 2%


$- $200,000 $400,000 $600,000 $800,000

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

2012 2013 2014 2015


46

48

50

52

54

56

58

60

62

2012 2013 2014 2015

$-

$20,000,000

$40,000,000

$60,000,000

$80,000,000

$100,000,000

$120,000,000

2012 2013 2014 2015




5


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.

ROSS and KENTFIELD


UP TO $1 MILLION 4 1 2 - n/a

$1 - $3 MILLION 6 16 10 14 40%

$3 MILLION AND UP 2 3 4 5 25%

TOTALS 12 20 16 19 19%



UP TO $1 MILLION $2,690,000 $960,000 $1,655,000 n/a n/a

$1 - $3 MILLION $10,995,000 $27,618,890 $18,585,000 $28,004,850 51%

$3 MILLION AND UP $9,050,000 $13,550,000 $16,405,000 $26,095,000 59%

TOTALS $22,735,000 $42,128,890 $36,645,000 $54,099,850 48%



UP TO $1 MILLION $672,500 $960,000 $827,500 n/a n/a

$1 - $3 MILLION $1,832,500 $1,726,181 $1,858,500 $2,000,346 8%

$3 MILLION AND UP $4,525,000 $4,516,667 $4,101,250 $5,219,000 27%

TOTALS 1,894,583 $2,106,445 $2,290,313 $2,847,361 24%


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2012 2013 2014 2015


-

5

10

15

20

25

2012 2013 2014 2015

$-

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

2012 2013 2014 2015






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.

SAUSALITO


UP TO $1 MILLION 5 4 2 1 -50%

$1 - $3 MILLION 8 3 9 8 -11%

$3 MILLION AND UP - 1 4 - n/a

TOTALS 13 8 15 9 -40%



UP TO $1 MILLION $3,486,000 $3,003,900 $1,215,000 $545,000 -55%

$1 - $3 MILLION $14,054,000 $5,480,000 $12,718,734 $14,830,000 17%

$3 MILLION AND UP $- $4,101,300 $15,940,000 n/a n/a

TOTALS $17,540,000 $12,585,200 $29,873,734 $15,375,000 -49%



UP TO $1 MILLION $697,200 $750,975 $607,500 $545,000 -10%

$1 - $3 MILLION $1,756,750 $1,826,667 $1,413,193 $1,853,750 31%

$3 MILLION AND UP n/a $4,101,300 3,985,000 - n/a

TOTALS $1,349,231 $1,573,150 $1,991,582 $1,708,333 -14%


$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2012 2013 2014 2015


-

2

4

6

8

10

12

14

16

2012 2013 2014 2015

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

2012 2013 2014 2015




7


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.

TIBURON and BELVEDERE


UP TO $1 MILLION 4 1 1 - n/a

$1 - $3 MILLION 23 24 19 16 -16%

$3 MILLION AND UP 7 5 18 11 -39%

TOTALS 34 30 38 27 -29%




UP TO $1 MILLION $844,625 $791,000 $945,000 n/a n/a

$1 - $3 MILLION $1,793,199 $1,818,458 $2,121,638 $2,203,145 4%

$3 MILLION AND UP $4,741,357 $4,659,000

$4,460,000 $4,509,182 1%

TOTALS $2,288,576 $2,257,633 $3,198,319 $3,142,641 -2%



UP TO $1 MILLION $3,378,500 $791,000 $945,000 - n/a

$1 - $3 MILLION $41,243,585 $43,643,000 $40,311,130 $35,250,315 -13%

$3 MILLION AND UP $33,189,500 $23,295,000 $80,280,000 $49,601,000 -38%

TOTALS $77,811,585 $67,729,000 $121,536,130 $84,851,315 -30%

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

2012 2013 2014 2015


-

5

10

15

20

25

30

35

40

2012 2013 2014 2015

$-

$20,000,000

$40,000,000

$60,000,000

$80,000,000

$100,000,000

$120,000,000

$140,000,000

2012 2013 2014 2015






Sitting in the heart of Marin County, San Rafael is one of the oldest and

largest cities in the county. The city’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.

SAN RAFAEL


UP TO $1 MILLION 85 72 62 55 -11%

$1 - $3 MILLION 11 19 20 31 55%

$3 MILLION AND UP 1 1 - - n/a

TOTALS 97 92 82 86 5%



UP TO $1 MILLION $49,052,683 $51,443,496 $47,075,352 $40,605,206 -14%

$1 - $3 MILLION $17,799,000 $27,179,730 $28,512,600 $42,539,800 49%

$3 MILLION AND UP $3,000,000 $3,175,000 $- $- n/a

TOTALS 69,851,683 81,798,226 75,587,952 83,145,006 10%



UP TO $1 MILLION $577,090 $714,493 $759,280 $738,276 -3%

$1 - $3 MILLION $1,618,091 $1,430,512 $1,425,630 $1,372,252 -4%

$3 MILLION AND UP $3,000,000 $3,175,000 n/a n/a n/a

TOTALS $720,120 $889,111 $921,804 $966,802 5%


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

2012 2013 2014 2015


70

75

80

85

90

95

100

2012 2013 2014 2015

60,000,000

65,000,000

70,000,000

75,000,000

80,000,000

85,000,000

2012 2013 2014 2015




ROSSWeb ID: 0086863 | $10,500,000

This 6 bedroom, 6 and a half bath villa sits on an

approx. flat acre. A coveted location that is close

to town, the Lagunitas Tennis Club, and Ross and

Branson Schools. RossGoldCoast.com

Isobel Wiener, Danielle Chavanon | 415.730.5556

BELVEDEREWeb ID: 0087121 | $3,995,000

Waterfront masterpiece. Remodeled 5 bedroom,

4 and a half baths with views. Approx. 4,836 sq.ft.

83WestShore.com

Kara Warrin | 415.407.7979

SAN RAFAELWeb ID: 0087290 | $1,495,000

Eichler Extraordinaire. 5 bedroom, 2.5 bath

located on cul-de-sac. Extensively remodeled from

the inside out.

Tyler Stewart | 415.519.2434

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marin county market report | q1 2015

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