pacific union q2 2015 market report – mandarin

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2015年第二季度

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Pacific Union Q2 2015 Market Report – Mandarin

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Page 1: Pacific Union Q2 2015 Market Report – Mandarin

2015年第二季度

Page 2: Pacific Union Q2 2015 Market Report – Mandarin
Page 3: Pacific Union Q2 2015 Market Report – Mandarin

即将实行的房贷新政将对房产买卖双方产生影响 4

致使湾区房价下降的三个因素 6

8

12

16

20

24

32

38

42

46

Page 4: Pacific Union Q2 2015 Market Report – Mandarin

即将实行的房贷新政将对房产买卖双方产生影响

我们的行业正在经历重大变化,目的是保护消费者免受造成2007﹣2008房地产行业崩盘和大萧条的因素的影响。2015年10月3日之后发生的贷款交易——购买和再融资目的——将适用消费者金融保护局(CFPB)制定并强制实施的新政策。

太平洋联合公司每年近5,000多笔房地产交易中的70%是通过银行贷款方式筹资完成的。因此,CFPB的规则变化将对我们的大部分购房者和售房者产生影响。10月3日之后,诚信评估、贷款实情以及HUD-1披露将被贷款评估(LE)和交割披露(CD)取代。若使用规范的银行贷款产品,首次购房者和成熟投资者等必须检查并填写全新的表格。

由此产生的实际影响是,与交割相关的税费会发生变化。某种程度上,我们已习惯于按照诚信评估及或作为交割程序一部分的最终交割说明对税费进行的变化和修改。再次披露前至多10%的容忍是必要的。新的规则和管理方法对“错误”或“费用、信用等的变化”是零容忍的。

10月3日以后,放款人将通过新的交割披露表格向借款人通知有关费用、信用或成本的任何变化,借款人将有法定的三天时间对其进行检查。很显然,这将对房地产交易的及时交割产生一定影响。

CFPB的新规则和管理方法旨在保护消费者,通过贷款评估提供全面的澄清,并达到最初贷款评估和最终交割披露之间的一致性。规则和表格发生变化的事实意味着,与房产交易相关的各方都需要遵循新程序。买卖双方需要填制这些新的表格并准备好进行再次披露的交割时间。很可能的情况是,即便是按照最好的预期,我们的交割速度在第4季度早期可能会有所减缓。

我们将对我们的房地产经纪人进行多项专业培训,以确保他们可以继续为我们的客户提供最优质的服务。请随时向您的过户公正员、放款人或太平洋联合公司房产经纪人了解CFPB制定的最新规则和管理方法。

Page 5: Pacific Union Q2 2015 Market Report – Mandarin

Click here to see specific 10-year data on key cities in the Bay Area.

REGION Q2 '05 Q2 '06 Q2 '07 Q2 '08 Q2 '09 Q2 '10 Q2 '11 Q2 '12 Q2 '13 Q2 '14 Q2 '15

CONTRA COSTA COUNTY 3,414 2,764 1,907 2,542 3,518 3,273 3,142 3,403 2,977 2,939 3,166

EAST BAY 892 814 749 613 556 681 676 810 823 798 800

MARIN COUNTY 799 665 684 494 440 574 555 680 786 773 706

NAPA COUNTY 434 317 279 247 307 336 356 419 374 357 357

SAN FRANCISCO (SFH) 823 781 637 655 557 675 685 726 747 629 620

SAN FRANCISCO (CONDOS) 720 589 645 533 370 565 578 740 760 759 665

SILICON VALLEY 894 817 804 629 538 629 752 798 785 755 667

SONOMA COUNTY 1,791 1,245 1,001 1,143 1,282 1,249 1,175 1,484 1,458 1,287 1,386

SONOMA VALLEY 197 125 113 97 123 136 121 176 174 164 170

LAKE TAHOE/TRUCKEE (SFH) 272 215 183 160 151 200 210 268 291 272 256

LAKE TAHOE/TRUCKEE (CONDOS) 116 73 82 35 28 62 82 88 71 77 59Copyright © Pacific Union. Source: BrokerMetrics / Terradatum, Inc. using data from SFARMLS, EBRD, BAREIS, MLSLSTINGS, TSIERRA, July 6, 2015.

Bay Area: 10-Year Overview of Q2 Homes Sold

这里是旧金山湾区房地产市场2015年第二季度的销售情况,还有之前10年的第二季度销售数据回顾。

Page 6: Pacific Union Q2 2015 Market Report – Mandarin

致使湾区房价下降的三个因素

旧金山湾区是高收入专业人士的聚集地,这里就业环境优越,房地产需求强烈。但我们通过观察湾区2015年上半年独栋住宅的销量发现,总体而言,整套销售在过去的两年是缓慢的。

按照MLS的数据,太平洋联合公司在湾区9个区域*的独栋住宅销量中,其中6个与去年同期相比是下降的。当把今年上半年与2013年上半年对比时,这种情况更加明显,所有区域的房产销量都在下降。两年下降最多的是湾区西部的县,而这里有着全美国最令人向往的工作。(完整的整套销售数量可在下表中找到。)

所以,是什么造成了湾区在一房难求的情况下房产销量下降呢?太平洋联合公司CEO马克麦克劳林认为在其中起主要作用的因素有三个。

可售房产供给量的减少和私下销售数量的增加无疑是造成MLS房产整套销售数量下降的最大因素,”他说,“但市场中缺少跟进买家也同样对房产的销售量产生了影响”。

存量短缺

任何密切关注湾区房地产市场的人都知道,我们的住房市场面临着一个重大挑战:供不应求。在过去的几年,这种情况并未得到改善。从太平洋联合公司在整个湾区的数据看,今年6月的独栋住宅月供给存量(MSI)与2014年6月相比是下降的。

MSI值在4.0和6.0之间,通常认为市场是平衡的,MSI值低于4.0,对售房者是有利的,反之亦然。在6月份,整个湾区的MSI值在0.7(中部半岛地区)和2.8(纳帕县)之间,这意味着,整个湾区的房地产市场是有利于售房者的。

按照太平洋联合公司在上述两个地区的副总裁大卫·巴卡的说法,自2013年上半年起,硅谷和中部半岛地区的住房销量下降比例已达两位数,待售房产存量的短缺是造成销量下降的关键因素。

“毫无疑问的是,如果存在更多的存量,销量也会更多,”他说。

缺少跟进买家

缺少待售房源意味着,很多跟进的买家将处于两难的境地,因为他们并不能确定一旦卖掉当前房产是否还能为自己找个新家。巴卡说,在硅谷,这个在全美国住房市场需求最强烈的地区,即便拥有足够的资产和现金也很难买到房子。

太平洋联合公司总裁帕特里克·巴伯和马林县区域总裁布伦特·汤姆森都认为,正是跟进买家行为的受限造成了金门大桥两岸地区房产销量的下降。巴卡还指出,首次购房行为在房价不菲的硅谷地区尤其低迷——但在本地科技和社媒公司担任要职的年轻专业人士除外。此外,首次购房的年轻人很可能还需要依靠父母或亲属的帮助才能凑齐首付。

另一个对跟进买家产生影响的因素是,联邦政府和州政府对房产销售征收的税费。按照2003年的税法改

太平洋联合首席执行官

马克麦克劳林认为

致使湾区房价下降的三个因素

·存量短缺·缺少跟进买家·私下挂牌交易盛行

Page 7: Pacific Union Q2 2015 Market Report – Mandarin

革,对于出售房产的,单身人士的资本利得起征额可升至25万美元,已婚人士的资本利得起征额可升至50万美元。但在湾区,由于房产在过去几年间的增值是巨大的,受高额税费的影响,一些跟进买家可能更愿意“继续住在现有的房子”并对其进行一些“装修改造”。

麦克劳林认为,紧缩的信贷市场也会对跟进买家造成影响,因为某些人可能不再具备像他们首次购房时那样的贷款额度资格。

私下挂牌交易盛行

尽管多重挂牌服务(MLS)仍是房地产专业市场最常用的方式,但出于保护隐私或保密的考虑,有些客户可能希望交易过程避开公众的视线。按照太平洋联合公司门洛帕克办公室提供的销售数据分析,场外交易约占圣马特奥市房产成交总量的三分之一,这是造成房产销售量明显下降的另一个因素。

在门洛帕克、阿瑟顿、波托拉谷以及伍德赛德的联合社区,私下交易占2014年第2季度全部交易量的21%。该比值到第3季度升至24%,第4季度升至29%。2015年第1季度,此类私下交易的占比为35%,第2季度降至了30%。

私下交易很可能在旧金山房产销量的下降中也起着一定作用。按照2014年的一份报告,旧金山房产经纪人协会曾估计场外交易占了2013年销售总量的11%,巴伯据此推断该数值很可能在增加。

私下交易包括对售房者隐私的保护和避免与开放式售房模式产生联系。然而,需要注意的是,SFAR发现2013年未通过MLS销售的房屋占比平均值为17%,比实际情况少。是否将房产销售过程公开化是售房者的决定,他需要与其信赖的房产经纪专业人士进行认真地考虑和商讨。

*了解我们在湾区划分各个业务区域的更多信息,请参见我们在2015年第2季度报告中的表格。

Page 8: Pacific Union Q2 2015 Market Report – Mandarin

Ellen AndersonSenior Vice President, Contra Costa [email protected] Sycamore Valley Road West | Danville, CA 94526

2015年第二季度

Page 9: Pacific Union Q2 2015 Market Report – Mandarin

$975,000 $1,040,000 $1,060,000

$965,000 $995,000 $1,007,500

$1,000,000 $970,000 $1,010,000 $1,092,000 $1,100,000

$1,110,000 $1,185,000

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Median sales price for single-family homes in these Contra Costa County communities:

Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

1.6 1.6 1.6

2.0

1.7 1.8

1.2

2.0

2.3

1.5 1.4 1.4

1.3

0.1

0.6

1.1

1.6

2.1

2.6

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

可以用一个词对太平洋联合公司第二季度在康特科斯拉县地区的房地产销售情况进行描述:异常惊人。销售量达到近5年多来的最高水平,甚至待售房产也保持在超出预期的低水平。房价存在适度地上涨,很多房子的售价高于其挂牌价且存在多个报价。(挂牌机构已学会通过价格战激发购房者之间的出价竞争。)

受房贷利率仍在破纪录的地点位置徘徊的驱使,以及利率可能触底反弹的威胁,不断有新的购房者进入市场。而与此同时,售房者则显得颇为谨慎:受房价上涨影响,他们乐于将自己的房产投入市场,但他们又对前景没有把握,因为一旦卖掉房子他们也变成了购房者身份。

前景展望:夏季一般是房地产行业的销售淡季,而这种形势将持续到2015年第三季度。我们预期,受本地区优质房源和学校的持续吸引作用,康特科斯拉县的房价在年底之前将保持平稳上升的态势。房贷利率水平的下降将抑制销售行为,但相反地,将促进购房者在利率爬升之前快速行动以将利率水平锁定在可承受的水平。

区域界定:我们在康特科斯拉县的房地产市场包括下列地区:阿拉莫、布莱克霍克、丹维尔、迪亚布罗、拉斐特、莫拉加、奥林达、普莱森特山、圣拉蒙以及核桃溪。下方图表中的销售数据包括这些社区内的独栋住宅。

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Page 10: Pacific Union Q2 2015 Market Report – Mandarin

23 21

25 27

29 31 31

40

29

25

19 19 18

0

5

10

15

20

25

30

35

40

45

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

100.2% 100.6%

99.1% 99.3%

98.1% 98.6% 98.3%

97.2%

98.8%

101.0%

102.4%

101.7% 101.3%

94%

95%

96%

97%

98%

99%

100%

101%

102%

103%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

37.5% 32.7% 31.6% 29.2%

32.1% 31.6% 29.3%

33.4% 35.7%

45.6% 42.5%

40.6% 41.0%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in these Contra Costa County communities: Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.

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Page 11: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Alamo 105,196,975$ 124,792,940$ 19% 65 71 9% 26 26 0% 1,410,000$ 1,565,000$ 11%

Blackhawk 56,718,475$ 43,416,500$ -23% 33 25 -24% 46 36 -22% 1,637,125$ 1,640,000$ 0%

Danville 234,767,847$ 256,558,293$ 9% 194 205 6% 19 18 -5% 1,097,500$ 1,200,000$ 9%

Diablo 9,541,000$ 8,808,000$ -8% 4 4 0% 30 31 3% 2,507,500$ 2,295,000$ -8%

Lafayette 146,125,230$ 207,794,325$ 42% 101 125 24% 19 21 11% 1,200,000$ 1,431,000$ 19%

Moraga 58,253,190$ 54,737,012$ -6% 45 40 -11% 17 14 -18% 1,235,500$ 1,255,000$ 2%

Orinda 124,424,414$ 130,055,325$ 5% 84 85 1% 23 19 -17% 1,307,500$ 1,380,000$ 6%

PleasantHill 66,144,252$ 70,129,623$ 6% 103 105 2% 23 20 -13% 610,000$ 650,000$ 7%

San Ramon 229,342,843$ 233,629,258$ 2% 234 219 -6% 16 14 -13% 929,950$ 1,022,000$ 10%

Walnut Creek 119,493,060$ 171,425,104$ 43% 129 168 30% 19 18 -5% 870,000$ 947,000$ 9%

Source: Terradatum, July 6, 2015. Data is for single-family homes in selected Contra Costa County cities.

Contra Costa County Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

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Page 12: Pacific Union Q2 2015 Market Report – Mandarin

Pam HoffmanSenior Vice President, Managing Broker, East Bay [email protected] Mountain Boulevard | Oakland, CA 94611

2015年第二季度

Page 13: Pacific Union Q2 2015 Market Report – Mandarin

$840,000 $790,000

$834,000 $775,000

$835,000 $826,500 $820,000 $792,500 $805,100

$900,000 $925,000 $915,000 $919,000

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for single-family homes in the East Bay.

1.2 1.0

1.1

1.6

1.1 0.9

0.7

1.8

2.1

1.1 0.9 0.9

0.8

0.1

0.6

1.1

1.6

2.1

2.6

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in the East Bay.

2015年第2季度是太平洋联合公司东湾地区的销售旺季。房子出手速度快且售价水平是近些年不多见的。即便是那些需要修缮的房子也能轻而易举地售出。

然而,对购房者而言,这是一个艰难的季度。在发现中意的房子时,购房者需要行动迅速。他们会频繁地与购买同样房产的其他购房者进行比较,并且担心自己买得不值。购房者需要做的是,确保资金到位并做好尽职调查。

与过去几个季度相比,现在市场上的房源量是充足的,但购房者的增量仍超出待售房产的增量。开放式售房模式在本季度受到推崇,这期间涌入了大量的来自旧金山的购房者。询价是竞购的开始。那些因小区环境好适合散步且靠近湾区快速公交站点而得分较高的社区仍是东湾地区最畅销的。

前景展望:我们对第三季度购房者的建议:写下你最好的报价。如果不这样做,其他人可能会买下你竞价的房子,而下一套房子可能会更贵。

区域界定:我们在东湾区域内的房地产市场包括下列地区:奥克兰地区(邮编代码为94602、94609、94610、94611、94618、94619和94705的区域)、阿拉米达、奥尔巴尼、埃尔塞里托、肯辛顿以及皮埃蒙特。下方图表中的销售数据包括这些社区内的独栋住宅。

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Page 14: Pacific Union Q2 2015 Market Report – Mandarin

21 20 23 23

21 20

27

37

24

20

16

23

17

0

5

10

15

20

25

30

35

40

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in the East Bay.  

109.2% 110.3%

109.3%

107.7%

111.6% 111.9%

109.0%

104.2%

110.4%

115.7% 115.7% 115.2%

116.3%

98%

100%

102%

104%

106%

108%

110%

112%

114%

116%

118%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in the East Bay.

43.6% 45.7%

39.6% 36.0%

45.2% 44.8%

34.9% 32.5%

43.1%

51.6% 51.8% 51.0% 54.4%

0%

10%

20%

30%

40%

50%

60%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in the East Bay.  

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Page 15: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Alameda 79,838,483$ 103,441,500$ 30% 90 105 17% 20 16 -20% 804,000$ 890,000$ 11%

Albany 22,982,000$ 31,206,950$ 36% 28 33 18% 14 18 29% 776,000$ 950,000$ 22%

Berkeley 164,538,775$ 173,352,490$ 5% 150 150 0% 20 16 -20% 893,500$ 1,049,500$ 17%

El Cerrito 50,367,288$ 47,530,235$ -6% 66 60 -9% 23 17 -26% 705,750$ 770,000$ 9%

Kensington 21,498,024$ 17,396,168$ -19% 22 18 -18% 21 19 -10% 832,630$ 897,500$ 8%

Oakland* 331,682,382$ 384,837,834$ 16% 377 389 3% 23 21 -9% 790,000$ 860,000$ 9%

Piedmont 128,584,725$ 103,179,378$ -20% 65 45 -31% 17 15 -12% 1,740,000$ 2,150,000$ 24%

East Bay Snapshot: Q2 2015 vs. Q2 2014

Source: Terradatum, July 6, 2015. Data is for single-family homes in selected East Bay cities; *Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705.

Sales Volume Homes Sold Avg. Days on Market Median Price

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Under $500,000 28,272,303$ 13,185,003$ -53% 69 33 -52% 33 65 97% 430,000$ 400,000$ -7%

Over $500,000 771,219,374$ 847,759,552$ 10% 729 767 5% 20 17 -15% 853,000$ 940,000$ 10%

$500,000 - $1 million 347,560,587$ 345,735,964$ -1% 468 443 -5% 19 17 -11% 749,500$ 785,000$ 5%

Over $1 million 423,658,787$ 502,023,588$ 18% 261 324 24% 21 16 -24% 1,365,000$ 1,350,000$ -1%

Source: Terradatum, July 6, 2015. Data is for SFH in the East Bay: Alameda, Albany, Berkeley, El Cerrito, Kensington, Piedmont, and Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705.

East Bay Price Range Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Montclair / Joaquin Miller 83 102 23% $1,065,932 $1,089,188 2%

Crocker Highlands / Grand Lake 39 34 -13% $930,629 $1,174,117 26%

Rockridge / Claremont 50 50 0% $1,398,809 $1,559,888 12%

Glenview/Oakmore 34 30 -12% $845,764 $921,586 9%

Laurel / Dimond 17 15 -12% $513,417 $668,550 30%

Redwood Heights / Lincoln Heights 34 33 -3% $677,101 $790,910 17%

Crestmont / Ridgemont / Skyline 14 13 -7% $1,099,464 $1,266,692 15%

Temescal / Piedmont Ave. 11 19 73% $816,005 $976,000 20%

Oakland Snapshot: Q2 2015 vs. Q2 2014

NeighborhoodHomes Sold Average Price

Source: EBRD, July 6, 2015. Data is for single-family homes in selected Oakland neighborhoods.

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Page 16: Pacific Union Q2 2015 Market Report – Mandarin

Brent ThomsonPresident, Marin [email protected] Redwood Highway, Suite 150 | Mill Valley, CA 94941

2015年第二季度

Page 17: Pacific Union Q2 2015 Market Report – Mandarin

$1,054,100 $1,051,500 $952,500

$1,175,000

$991,000

$1,100,000 $1,008,000 $990,000

$980,000

$1,160,000 $1,186,125

$1,175,000 $1,106,000

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for single-family homes in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

1.5

1.8 1.9

2.6

1.9 1.9 1.7

2.6

2.3

1.5 1.3 1.3 1.4

0.1

0.6

1.1

1.6

2.1

2.6

3.1

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

受持续的可售房源短缺和大量购房者急于买房的影响,对太平洋联合公司2015年第2季度在马林县地区的房地产销售而言,整个市场受售房者控制且这种趋势已超过了一年。在本季度,房价持续上涨,多家报价成为常态——对那些定价公平且位置理想的待售房产而言尤其如此。对购房者而言,现金全款购房和快速完成交易已是司空见惯的事情。

受临近旧金山地区房地产市场吃紧且科技资金持续流向北方的影响,购房者之间的竞争很激烈。对他们而言,要想完成交易,给出咄咄逼人的报价是必不可少的。米尔谷和肯特菲尔德地区的销售形势尤其强劲,很多报价已远远高于要价。私下销售协议——不进入本地区的房产销售市场且不进行竞争性报价的一种售房方式——已是司空见惯的事情。这种方式可简化房产销售程序但并无法保证按可能的最高价成交。

前景展望:鉴于购房者多在考虑度假的事情,夏季这几个月的房产销售呈现出典型的放缓态势,但受东湾地区经济强劲增长的影响,马林县的待售房产对购房者拥有持久的强吸引力,而购房者对中意房产的多个报价将推动房价的上涨。

区域界定:我们在马林县区域内的房地产市场包括下列地区:贝尔韦代雷、科特马德拉、费尔法克斯、葛兰布易、肯特菲尔德、拉卡斯伯、米尔山谷、诺瓦托、罗斯、圣安塞尔莫、圣拉斐尔、索萨利托以及蒂伯龙。下方图表中的销售数据包括这些社区内的独栋住宅。

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Page 18: Pacific Union Q2 2015 Market Report – Mandarin

46

53 50 52

55 60

74

62 58

47

59 56

38

0

10

20

30

40

50

60

70

80

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

35.1%

30.1% 27.9%

29.5% 30.7%

25.7%

21.9%

30.3% 35.7%

44.4% 43.1%

39.2% 42.4%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

98.2% 97.4% 97.0%

97.5% 98.0%

95.7%

93.7%

98.1% 99.2%

100.8%

95.6% 94.8%

102.4%

88%

90%

92%

94%

96%

98%

100%

102%

104%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in these Marin County communities: Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.

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Page 19: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Belvedere 23,342,260$ 45,684,000$ 96% 9 6 -33% 76 939 1136% 2,470,000$ 7,685,750$ 211%

Corte Madera 33,693,348$ 31,277,000$ -7% 27 22 -19% 32 31 -3% 1,249,650$ 1,316,000$ 5%

Fairfax 22,724,015$ 21,783,875$ -4% 27 23 -15% 37 33 -11% 789,000$ 868,500$ 10%

Greenbrae 33,732,000$ 30,093,500$ -11% 22 17 -23% 33 16 -52% 1,475,500$ 1,700,000$ 15%

Kentfield 55,690,035$ 66,410,500$ 19% 27 24 -11% 37 21 -43% 1,800,000$ 2,275,000$ 26%

Larkspur 38,797,350$ 26,614,323$ -31% 26 18 -31% 34 32 -6% 1,347,500$ 1,398,000$ 4%

Mill Valley 198,353,722$ 223,146,172$ 12% 121 122 1% 40 36 -10% 1,350,000$ 1,613,250$ 20%

Novato 133,815,944$ 156,087,164$ 17% 162 177 9% 47 48 2% 762,500$ 800,000$ 5%

Ross 59,131,400$ 28,120,000$ -52% 17 8 -53% 60 37 -38% 3,200,000$ 3,450,000$ 8%

San Anselmo 79,967,205$ 78,090,965$ -2% 68 61 -10% 56 40 -29% 950,000$ 1,112,000$ 17%

San Rafael 171,704,995$ 178,333,442$ 4% 167 145 -13% 39 41 5% 858,000$ 980,000$ 14%

Sausalito 38,225,300$ 34,350,250$ -10% 20 18 -10% 44 91 107% 1,614,150$ 1,830,000$ 13%

Tiburon 127,701,500$ 94,907,700$ -26% 40 35 -13% 133 77 -42% 3,100,000$ 2,545,000$ -18%

Source: Terradatum, July 6, 2015. Data is for single-family homes in selected Marin County cities.

Marin County Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

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Page 20: Pacific Union Q2 2015 Market Report – Mandarin

Linda CarrollRegional Executive, Napa [email protected] Main Street | Napa, CA 94559

2015年第二季度

Page 21: Pacific Union Q2 2015 Market Report – Mandarin

$527,000 $592,000

$510,000

$602,500

$535,000

$610,000

$522,500 $497,000 $492,000

$559,750

$634,000 $590,000 $604,500

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for single-family homes in Napa County.

3.4 3.8

5.4

4.3 4.1

4.5

3.4 3.8

3.4

2.6

3.2 2.9 2.8

0.1

1.1

2.1

3.1

4.1

5.1

6.1

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in Napa County.

2015年第2季度对太平洋联合公司纳帕县地区的房地产销售而言是一个全面丰收的时节。四月和五月是繁忙的,六月有过之而无不及,购房者在本地区四处搜寻在售房源,同时存在的是对酒庄和葡萄园的大量需求。对高端房产而言,此时的价格是相对平稳的,但对售价在80万美元以下的房产而言,同去年相比房价上涨幅度较大。

多个报价已是常态,但更多依赖于待售房产的情况和挂牌价格——这是房地产市场经历七年的繁荣、崩溃和复苏而回归正常的最新迹象。卖方不再主导市场,第二季度的购房者是有备而来的且更具选择性。他们做足功课,筹资有序,知道自己想买什么和能买什么。低房贷利率有助于很多首次购房者进入这个繁忙的市场。

前景展望:我们预期,6月份强劲的销售势头将持续到7月份。考虑到家庭将迎来开学季,8月份将有所趋缓,但9月份中旬将又迎来一个小高峰。直至年末,定价合理的待售房产将继续对购房者具有吸引力。

区域界定:我们在纳帕县区域内的房地产市场包括下列地区:美国峡谷、安格文、卡利斯托加、纳帕、奥克维尔、拉瑟福德、圣海伦娜以及杨特维尔。下方图表中的销售数据包括这些社区内的独栋住宅。

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Page 22: Pacific Union Q2 2015 Market Report – Mandarin

77 81 71

90 87 81

99 100

114

91 94

71 72

0

20

40

60

80

100

120

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in Napa County.  

19.1% 15.8% 16.1% 16.3% 17.3%

17.7% 15.9%

23.2% 26.1%

28.7% 26.4% 26.0% 26.6%

0%

5%

10%

15%

20%

25%

30%

35%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in Napa County.  

95.8%

88.6%

93.5% 93.4% 92.5%

95.1%

91.2% 91.2% 92.0%

94.5%

95.9%

94.8%

96.6%

84%

86%

88%

90%

92%

94%

96%

98%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in Napa County.

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Page 23: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

American Canyon 17,563,400$ 15,983,900$ -9% 44 36 -18% 42 46 10% 397,750$ 445,000$ 12%

Angwin 2,780,000$ 3,065,000$ 10% 3 4 33% 78 130 67% 395,000$ 747,500$ 89%

Calistoga 17,876,000$ 17,883,700$ 0% 16 18 13% 124 88 -29% 672,500$ 727,000$ 8%

Napa 171,199,020$ 173,729,705$ 1% 250 253 1% 68 67 -1% 529,700$ 600,000$ 13%

St. Helena 68,368,408$ 47,672,312$ -30% 36 33 -8% 125 180 44% 1,095,579$ 885,000$ -19%

Yountville 8,090,000$ 18,466,999$ 128% 8 9 13% 24 131 446% 1,032,500$ 960,000$ -7%

Source: Terradatum, July 6, 2015. Data is for single-family homes in selected Napa County cities.

Napa County Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Under $500,000 58,882,385$ 43,968,955$ -25% 154 113 -27% 64 63 -2% 394,500$ 412,000$ 4%

$500,000 - $999,999 99,146,760$ 129,857,599$ 31% 146 190 30% 76 77 1% 650,000$ 658,400$ 1%

$1 million - $3 million 71,765,683$ 72,556,062$ 1% 47 49 4% 72 112 56% 1,340,000$ 1,350,000$ 1%

Over $3 million 55,632,000$ 30,523,000$ -45% 10 5 -50% 117 131 12% 5,028,500$ 5,650,000$ 12%

Median Price

Source: Terradatum, July 6, 2015. Data is for single-family homes in Napa County.

Napa County Price Range Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market

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Page 24: Pacific Union Q2 2015 Market Report – Mandarin

Patrick [email protected] Van Ness Avenue | San Francisco, CA 94109

2015年第二季度

Page 25: Pacific Union Q2 2015 Market Report – Mandarin

$1,175,000 $1,082,000

$971,500 $1,040,000

$1,190,000 $1,128,500

$1,075,000 $975,000

$1,133,000 $1,250,000

$1,320,000 $1,400,000

$1,342,500

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000

$1,500,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for single-family homes in San Francisco.

$1,040,000 $960,000 $980,000 $950,000 $1,004,000

$1,025,000 $960,012

$885,000

$1,100,000 $1,115,000 $1,074,500

$1,150,000 $1,125,000

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for condominiums in San Francisco.

旧金山红火的房地产市场在2015年第2季度仍旧热度不减。对卖房者而言这是极好的:所有价格水平的可售独栋住宅和公寓住宅的供给仍旧短缺,绝大多数待售房产可收到多个报价。结果呢?多数售价远超要价,在个别情况下,这种差异极大。一个典型的例子是,旧金山一套要价85万美元的房子卖到了115万美元。

尽管对购房者而言旧金山仍是个充满挑战的市场,但还是可以找到一些交易——尤其是在懂行的房地产经纪人的帮助下。但购房者需要动作迅速,定价合理且有吸引力的房产入市数天即被抢购已不是什么新鲜事。与此同时,售房者面临了一个困境:在卖掉房子的同时,自己也处于了购房者的地位,需要为购买下一套房产而绞尽脑汁。对很多售房者而言,可解决的方式是与购房者签订回租协议,这样一来他们便有足够的时间找个新家。

前景展望:销售在夏季呈现出典型的缓和态势,但不要误以为市场不会发生突变。随着本地经济的繁荣发展以及接近最低记录的利率水平,在可预见的未来,旧金山是不缺购房者的。

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Page 26: Pacific Union Q2 2015 Market Report – Mandarin

1.9

1.6 1.7

2.1

1.3 1.4

0.9

2.3 2.5

1.6 1.4 1.4 1.4

0.1

0.6

1.1

1.6

2.1

2.6

3.1

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in San Francisco.

27 30 29

27 31 31

39

47

30 27 26

24

29

0

5

10

15

20

25

30

35

40

45

50

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in San Francisco.  

1.6 1.8

1.4

1.8

1.4 1.5

1.0

2.2 2.1

1.3 1.2

1.1 1.2

0.1

0.6

1.1

1.6

2.1

2.6

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for condominiums in San Francisco.

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Page 27: Pacific Union Q2 2015 Market Report – Mandarin

35 33 33

39 37 36

50 54

29 31 34 32

26

0

10

20

30

40

50

60

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for condominiums sold in San Francisco.  

37.5% 32.9%

37.1% 36.2% 35.3%

39.1%

31.1% 30.9%

39.1%

45.2% 41.5% 42.7%

40.5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of condominiums under contract in San Francisco.  

35.6% 34.9% 32.5% 34.6%

38.7% 38.5%

32.6% 28.2% 30.0%

42.1% 38.8%

41.9%

37.0%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in San Francisco.  

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Page 28: Pacific Union Q2 2015 Market Report – Mandarin

110.3% 109.7%

109.0% 109.8% 109.7%

107.2%

105.3% 104.8%

111.0% 109.6%

112.7%

109.9%

113.7%

100%

102%

104%

106%

108%

110%

112%

114%

116%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in San Francisco.

106.7% 107.6%

105.2%

103.9%

105.9% 105.6%

101.4%

103.3%

106.8%

108.4% 107.2%

109.7% 109.2%

96%

98%

100%

102%

104%

106%

108%

110%

112%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for condominiums under contract in San Francisco.

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1: Inner Richmond, Central Richmond, Outer Richmond, JordanPark/Laurel Heights, Lake, Lone Mountain, Sea Cliff.

2: Outer Sunset, Central Sunset, Inner Sunset, Outer Parkside, Parkside, Inner Parkside, Golden Gate Heights.

3: Pine Lake Park, Merced Manor, Lake Shore, Lakeside, Stonestown, Merced Heights, Ingleside, Ingleside Heights,

Oceanview.

4: Balboa Terrace, Diamond Heights, Forest Hill, Forest Hill Extension, Forest Knolls, Ingleside Terrace, Midtown

Terrace, Miraloma Park, Monterey Heights, Mount Davidson Manor, Sherwood Forest, St. Francis Wood,

Sunnyside, West Portal, Westwood Highlands, Westwood Park.

5: Buena Vista/Ashbury Heights, Clarendon Heights, Cole Valley/Parnassus Heights, Corona Heights,

Duboce Triangle, Eureka Valley/Dolores Heights, Glen Park, Haight-Ashbury, Mission Dolores, Noe Valley, Twin Peaks.

6: Alamo Square, Anza Vista, Hayes Valley, Lower Pacific Heights, North Panhandle, Western Addition.

7: Cow Hollow, Marina, Pacific Heights, Presidio Heights.

8: Downtown, Financial District/Barbary Coast, Nob Hill, North Beach, North Waterfront, Russian Hill, Telegraph Hill,

Tenderloin, Van Ness/Civic Center.

9: Bernal Heights, Central Waterfront/Dogpatch, Inner Mission, Mission Bay, Potrero Hill, South Beach,

South of Market, Yerba Buena.

10: Bayview, Bayview Heights, Candlestick Point, Crocker Amazon, Excelsior, Hunters Point, Little Hollywood,

Outer Mission, Mission Terrace, Portola, Silver Terrace, Visitacion Valley.

Page 30: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

District 1 106,020,175$ 142,062,688$ 34% 58 66 14% 20 18 -10% 1,602,500$ 1,900,500$ 19%

District 2 126,366,648$ 146,642,227$ 16% 111 117 5% 28 27 -4% 1,000,000$ 1,175,000$ 18%

District 3 41,875,000$ 34,180,888$ -18% 44 36 -18% 26 37 42% 840,750$ 892,500$ 6%

District 4 109,033,750$ 150,829,979$ 38% 75 90 20% 30 22 -27% 1,375,000$ 1,442,500$ 5%

District 5 183,768,608$ 207,403,851$ 13% 87 85 -2% 21 23 10% 1,935,000$ 2,150,000$ 11%

District 6 26,537,240$ 19,176,000$ -28% 11 8 -27% 21 29 38% 2,725,000$ 1,821,500$ -33%

District 7 156,513,300$ 213,909,814$ 37% 34 30 -12% 45 30 -33% 3,700,000$ 4,873,750$ 32%

District 8 34,901,250$ 18,127,000$ -48% 8 7 -13% 86 17 -80% 3,191,000$ 2,222,000$ -30%

District 9 66,946,875$ 98,250,560$ 47% 56 62 11% 26 23 -12% 1,170,000$ 1,472,500$ 26%

District 10 103,107,932$ 95,214,001$ -8% 145 119 -18% 35 35 0% 690,000$ 780,000$ 13%

Source: Terradatum, July 6, 2015. Data is for single-family homes in San Francisco districts.

San Francisco Snapshot: SFH, Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

District 1 41,600,500$ 35,122,300$ -16% 36 30 -17% 31 24 -23% 1,000,000$ 1,206,500$ 21%

District 2 17,250,888$ 13,423,000$ -22% 16 11 -31% 28 21 -25% 927,500$ 1,350,000$ 46%

District 3 6,238,000$ 5,615,000$ -10% 10 9 -10% 27 21 -22% 549,500$ 615,000$ 12%

District 4 10,908,125$ 10,217,000$ -6% 18 12 -33% 22 32 45% 574,500$ 840,000$ 46%

District 5 127,927,282$ 174,019,887$ 36% 110 130 18% 24 20 -17% 1,137,500$ 1,288,000$ 13%

District 6 68,069,671$ 64,675,500$ -5% 66 56 -15% 32 23 -28% 969,000$ 1,135,000$ 17%

District 7 132,686,514$ 89,262,201$ -33% 89 51 -43% 26 23 -12% 1,300,000$ 1,540,000$ 18%

District 8 138,670,269$ 133,739,714$ -4% 117 99 -15% 41 36 -12% 901,000$ 1,075,000$ 19%

District 9 322,769,661$ 315,835,986$ -2% 287 249 -13% 31 38 23% 920,000$ 1,050,000$ 14%

District 10 5,026,869$ 12,574,500$ 150% 10 18 80% 59 54 -8% 541,500$ 732,500$ 35%

Source: Terradatum, July 6, 2015. Data is for condominiums in San Francisco districts.

San Francisco Snapshot: Condos, Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

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Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Under $1 million 195,963,030$ 135,312,201$ -31% 261 173 -34% 34 36 6% 750,000$ 800,000$ 7%

$1 million - $3 million 498,568,173$ 634,016,993$ 27% 312 385 23% 23 22 -4% 1,462,500$ 1,500,000$ 3%

Over $3 million 260,539,575$ 356,467,814$ 37% 56 62 11% 40 28 -30% 3,690,000$ 4,137,500$ 12%

San Francisco Price Range Snapshot: SFH, Q2 2015 vs. Q2 2014

Source: Terradatum, July 6, 2015. Data is for single-family homes in San Francisco County.

Sales Volume Homes Sold Avg. Days on Market Median Price

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Under $1 million 287,601,419$ 210,918,200$ -27% 399 272 -32% 35 34 -3% 750,000$ 810,000$ 8%

$1 million - $2 million 400,835,564$ 451,679,811$ 13% 295 327 11% 25 26 4% 1,315,000$ 1,345,000$ 2%

Over $2 million 182,710,796$ 191,887,077$ 5% 65 66 2% 35 44 26% 2,500,000$ 2,719,650$ 9%

Source: Terradatum, July 6, 2015. Data is for condominiums in San Francisco County.

San Francisco Price Range Snapshot: Condos, Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

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Page 32: Pacific Union Q2 2015 Market Report – Mandarin

David BarcaVice President, Silicon [email protected] El Camino Real, Suite 220 | Menlo Park CA 94025

2015年第二季度

Page 33: Pacific Union Q2 2015 Market Report – Mandarin

$2,430,000 $2,400,000 $2,450,000 $2,558,000

$2,450,000 $2,498,000 $2,399,100

$2,815,500 $2,850,000

$2,800,000 $2,665,000 $2,625,000 $2,700,000

$100,000

$600,000

$1,100,000

$1,600,000

$2,100,000

$2,600,000

$3,100,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Median sales price for single-family homes in these Silicon Valley communities:

Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

1.5 1.6 1.6

2.2

1.2 1.3

1.2

2.3

1.9

1.4 1.2 1.2 1.2

0.1

0.6

1.1

1.6

2.1

2.6

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in these SIlicon Valley communities:

Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

太平洋联合公司第2季度在硅谷地区的房地产销售呈现出突飞猛进的态势——4月份所有次级市场的交易量异常大——5月份销售较为缓和,6月份更低一些。整个季度的房子存量水平很紧张——事实上,整个一年都是这样——房价也出现持续上涨。本地区卖得最火的是售价在200万到300万美元之间的房子。

大部分售房者都可以收到多个报价,但通常只有两三个,而非一年前的10到15个。相比过去数年而言,购房者似乎拥有了更大的谈判空间,而售房者仍可享受健康房价带来的收益。本地区三分之一的房产销售是通过私下销售协议达成的,这些房产无需进入本地区的房产销售市场且无需进行竞争性的报价。此种方式可以简化房产销售流程,但不保证按可能的最高价格成交。前景展望:在夏季,硅谷地区的房产销量一般会出现下降,但我们预期,可售房产的数量在第三季度会增加,这将引入更多的购房者。

区域界定:我们在硅谷地区的房地产市场包括下列城镇:阿瑟顿、洛斯阿托斯(不包括县级区域)、洛斯阿托斯山、门洛帕克(不包括美国101东部)、帕罗奥图、波托拉山谷以及伍德赛德。下方图表中的销售数据包括这些社区内的独栋住宅。

区域界定:我们在中部半岛地区内的房地产市场包括下列城市:伯林盖姆(不包括英戈尔德缪斯德勒工业中心)、希尔斯伯格以及圣马特奥(不包括北部舒尔维尔/多雷卡瓦诺地区)。下方图表中的销售数据包括这些社区内的独栋住宅。

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Page 34: Pacific Union Q2 2015 Market Report – Mandarin

23

27

37

31

25 28

37

41

25 26

19 21 22

0

5

10

15

20

25

30

35

40

45

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in these Silicon Valley communities:

Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

103.8%

102.3% 101.0%

101.9%

105.5%

103.2%

99.1% 99.5%

106.0% 106.1% 106.5%

104.0% 104.8%

94%

96%

98%

100%

102%

104%

106%

108%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in these Silicon Valley communities:

Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

33.9% 30.3%

33.3% 34.1%

39.5%

30.3%

25.9%

30.8%

38.7%

45.6% 44.4% 42.5%

37.1%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in these Silicon Valley communities:

Atherton, Los Altos (excluding County area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.

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Page 35: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Atherton 193,393,003$ 192,172,000$ -1% 34 28 -18% 44 44 0% 3,953,502$ 5,150,000$ 30%

Los Altos* 276,578,624$ 300,441,479$ 9% 104 100 -4% 14 13 -7% 2,350,000$ 2,713,000$ 15%

Los Altos Hills 106,882,888$ 126,738,888$ 19% 27 31 15% 35 33 -6% 3,300,000$ 3,700,000$ 12%

Menlo Park** 212,798,075$ 208,725,500$ -2% 87 90 3% 15 14 -7% 2,040,000$ 2,004,000$ -2%

Palo Alto 368,822,674$ 351,550,574$ -5% 133 109 -18% 15 14 -7% 2,320,000$ 2,699,000$ 16%

Portola Valley 86,248,000$ 81,078,000$ -6% 32 25 -22% 21 16 -24% 2,350,000$ 2,625,000$ 12%

Woodside 113,993,500$ 129,027,279$ 13% 31 31 0% 42 56 33% 2,517,000$ 2,500,000$ -1%

Source: Terradatum, July 6, 2015. Data is for single-family homes in selected Silicon Valley cities. *Excludes County area **Excludes east of U.S. 101

Silicon Valley Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

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Page 36: Pacific Union Q2 2015 Market Report – Mandarin

$1,436,500 $1,341,000 $1,328,000

$1,350,000 $1,307,500 $1,350,000

$1,462,500

$1,675,700 $1,490,000

$1,590,000 $1,688,000

$1,400,000

$1,600,000

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000

$1,500,000

$1,700,000

$1,900,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Median sales price for single-family homes in these San Mateo County communities:

Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

16

33

26 28

30

25 28

47

32

21 21

14

20

0

5

10

15

20

25

30

35

40

45

50

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in these San Mateo County communities:

Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

1.4 1.5

1.2

1.4

1.0

1.3

0.7

2.2

1.9

0.9 1.1

0.9 0.7

0.1

0.6

1.1

1.6

2.1

2.6

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in these San Mateo County communities:

Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

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Page 37: Pacific Union Q2 2015 Market Report – Mandarin

31.7%

42.1% 39.0% 39.0%

44.9% 42.0%

26.3%

32.7%

42.7%

54.3%

48.0%

53.0% 52.5%

0%

10%

20%

30%

40%

50%

60%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in these San Mateo County communities:

Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Burlingame* 154,581,888$ 115,454,657$ -25% 84 53 -37% 16 19 19% 1,716,500$ 2,000,000$ 17%

Hillsborough 177,656,458$ 133,932,366$ -25% 47 31 -34% 54 28 -48% 3,080,000$ 4,050,000$ 31%

San Mateo** 215,178,406$ 248,589,453$ 16% 176 169 -4% 18 17 -6% 1,068,500$ 1,345,000$ 26%

Source: Terradatum, July 6, 2015. Data is for single-family homes in selected San Mateo County cities. * Excludes Ingold Millsdale Industrial Center ** Excludes the North Shoreview/Dore Cavanaugh area

Mid-Peninsula Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

103.9%

101.2% 101.4%

99.8% 101.1% 100.7% 101.2%

97.5%

102.7%

107.8% 107.3%

110.6%

106.5%

90%

95%

100%

105%

110%

115%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in these San Mateo County communities:

Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).

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Page 38: Pacific Union Q2 2015 Market Report – Mandarin

Rick LawsSenior Vice President, Sonoma [email protected] Mendocino Avenue, Suite 210 | Santa Rosa, CA 95403

2015年第二季度

Page 39: Pacific Union Q2 2015 Market Report – Mandarin

$495,000 $507,000

$475,000 $496,000 $490,000 $481,250

$515,000 $479,000 $492,000 $510,000

$536,000 $545,000 $550,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for single-family homes and farms/ranches in Sonoma County.

2.2 2.1

2.4 2.2 2.3 2.1

1.6

2.5 2.5 2.3

1.8 1.9

1.6

0.1

0.6

1.1

1.6

2.1

2.6

3.1

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes and farms/ranches in Sonoma County.

经过缓慢的第一季度,太平洋联合公司第二季度在索诺玛县地区的房地产销售出现回升。市场上的可售房产数量较第一季度有所上升但仍低于去年同期水平。紧俏的供给让购房者很是抓狂,但保证了市场上最具吸引力的房产总是可以收到多个报价,并有助于缓和地拉升房产售价中位数。

相比过去几个季度而言,价格较低的房产的可售数量已很少:多年来,短期销售和取消抵押品赎回权占据了已售房产中的大多数,且价格预期推高了市场价格。在第二季度,售价在90万到200万美元的房产是销售增速最快的,同时,售价低于40万美元的房产的数量缩减了近一半。

前景展望:一般情况下,七八月份的销量会较少,但我们预期,九月中旬会迎来一个小高峰。在第三季度,售房者仍将占据市场上风,但本地区市场将继续更趋于平衡,购房者的谈判空间将有所增加。受可能的贷款利率上升的影响,买房者数量将增加。以合理价位出售房产的卖家更可能收到多个报价并更快的成交。

区域界定:我们在中部半岛地区内的房地产市场包括下列城市:科塔蒂、希尔兹堡、鹏格罗夫、佩塔卢马、罗勒尔特公园、圣罗萨、塞巴斯托波以及温莎。下方图表中的销售数据包括索诺玛县内的独栋住宅、农场和牧场。

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Page 40: Pacific Union Q2 2015 Market Report – Mandarin

57 62 61

67 68 73

80

89 89

66

56 63

57

0

10

20

30

40

50

60

70

80

90

100

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes and farms/ranches sold in Sonoma County.  

98.4%

96.9% 97.6%

96.6% 96.5%

95.4%

93.8%

95.0% 95.3%

98.5%

99.6%

97.0%

99.4%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

101%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes and farms/ranches under contract in Sonoma County.

29.9% 28.9% 27.8% 26.3%

29.1% 28.9%

24.1%

29.9% 31.2%

36.6% 37.3% 35.4% 38.3%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes and farms/ranches under contract in Sonoma County.  

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Page 41: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Healdsburg 45,839,408$ 69,900,625$ 52% 47 57 21% 55 78 42% 615,000$ 917,500$ 49%

Petaluma 85,154,300$ 107,510,884$ 26% 139 165 19% 47 53 13% 555,000$ 600,000$ 8%

Rohnert Park 31,885,738$ 37,972,800$ 19% 74 79 7% 44 40 -9% 420,000$ 480,000$ 14%

Santa Rosa 285,787,316$ 348,639,271$ 22% 528 597 13% 56 54 -4% 440,000$ 499,500$ 14%

Sebastopol 48,417,055$ 45,598,800$ -6% 66 54 -18% 63 63 0% 690,000$ 717,500$ 4%

Windsor 41,626,762$ 51,150,375$ 23% 82 80 -2% 81 48 -41% 470,000$ 550,500$ 17%

Source: Terradatum, July 6, 2015. Data is for single-family homes and farms/ranches in selected Sonoma County cities.

Sonoma County Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Under $1 million 595,644,797$ 671,850,012$ 13% 1184 1,224 3% 60 55 -8% 460,000$ 515,000$ 12%

$1 million and over 173,387,025$ 266,778,802$ 54% 103 162 57% 87 88 1% 1,350,000$ 1,294,500$ -4%

Source: Terradatum, July 6, 2015. Data is for single-family homes and farms/ranches in selected Sonoma County cities.

Sonoma County Price Range Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

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Page 42: Pacific Union Q2 2015 Market Report – Mandarin

Jill SilvasRegional Executive, Sonoma [email protected] West Napa Street, Suite 200 | Sonoma, CA 95476

2015年第二季度

Page 43: Pacific Union Q2 2015 Market Report – Mandarin

$555,000

$697,500

$525,000 $580,250

$606,250

$750,000

$589,500 $545,000 $540,000 $572,000

$756,000

$665,000 $632,000

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for single-family homes, condominiums, and farms/ranches in Sonoma Valley.

3.3

2.2

3.0 2.8

2.1 2.3

1.6

3.5 3.3

3.1

2.3

1.9 2.2

0.1

0.6

1.1

1.6

2.1

2.6

3.1

3.6

4.1

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes, condominiums, and farms/ranches in Sonoma Valley.

三个月前,我们预计2015年第2季度索诺玛谷的房地产市场将“异常的繁荣”,事实证明这种预期是正确的。房产销售显著,按照我们建议很早便将房产投入市场的售房者获得了丰厚的收益,不仅收到多个报价而且成交很快,通常这些报价都高于要价。随着销量的上升,房产售价中位数也到了更高的水平。

对售房者而言,第二季度总体是好的,尽管在季末,我们看到来自购房者方面的一些反扑。举个例子,第三方保函开具后,价格远高于要价的几个已签订合同的买卖交易被取消了。一旦他们的尽职调查期结束,其他购房者便做出实质性的修复、让步或降价要求,然后因卖方无法满足其要求而取消了交易。能认为我们开始趋于更平衡的市场交易吗?时间会证明一切。

前景展望:在第三季度,我们将看到市场出现一些波动。暑假、新学年的开始以及酒乡的葡萄丰收都会对房地产市场产生影响。然而,鉴于湾区利率和失业率都处于极低的水平,我们相信坚挺的房地产市场将持续到2016年。

区域界定:我们在索诺玛谷地区的房地产市场包括下列城市:格伦艾伦、肯伍德以及索诺玛。下方图表中的销售数据涉及所有居住用房地产,其中包括这些社区内的独栋住宅、公寓以及农场和牧场。

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Page 44: Pacific Union Q2 2015 Market Report – Mandarin

61

77

56

96

83 77

82 89

76

64 66

53 48

0

20

40

60

80

100

120

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes, condominiums, and farms/ranches sold in Sonoma Valley.  

96.7% 95.1%

97.5%

92.5% 93.5% 93.5%

94.7% 95.2% 96.3% 96.7%

100.5%

95.4%

101.6%

86%

88%

90%

92%

94%

96%

98%

100%

102%

104%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes, condominiums, and farms/ranches under contract in Sonoma Valley.

26.9%

21.9% 25.1%

26.6%

30.6%

27.4%

17.0%

22.6%

30.1%

33.1% 32.1%

29.3%

25.8%

0%

5%

10%

15%

20%

25%

30%

35%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes, condominiums, and farms/ranches under contract in Sonoma Valley.  

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Page 45: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Glen Ellen 17,756,900$ 6,865,375$ -61% 14 8 -43% 62 80 29% 1,005,500$ 694,188$ -31%

Kenwood 9,914,000$ 7,560,500$ -24% 7 6 -14% 202 58 -71% 1,260,000$ 1,081,250$ -14%

Sonoma 105,360,425$ 144,188,804$ 37% 143 156 9% 54 54 0% 569,000$ 650,000$ 14%

Source: Terradatum, July 6, 2015. Data is for single-family homes, condominiums, and farms/ranches in selected Sonoma Valley cities.

Sonoma Valley Snapshot: Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

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Page 46: Pacific Union Q2 2015 Market Report – Mandarin

Sally GardnerRegional Executive, Tahoe/TruckeeTahoe City 530.581.1882 | Truckee 530.587.7098 | Squaw Valley [email protected]

2015年第二季度

Page 47: Pacific Union Q2 2015 Market Report – Mandarin

$529,277 $595,000

$665,000

$589,000 $607,342

$740,000

$572,000

$725,000

$611,250 $650,000

$535,000 $530,500 $560,000

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for single-family homes in the Lake Tahoe/Truckee region.

$350,000

$445,000

$345,000

$385,000

$416,000 $392,500

$370,250

$290,000

$359,500 $362,500

$281,000

$339,000

$389,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Median sales price for condominiums in the Lake Tahoe/Truckee region.

太平洋联合公司在太浩湖/特拉基地区是十足的度假房市场,因此一点也不奇怪的是,本地区的房产销售很大程度上依赖于旅游业。由于加州干旱,仅靠着一点零星的雪,这里的游客数量已大幅下降。结果呢?2015年第2季度的销售数量较去年同期下降了。

然而,还是存在一些亮点的。太浩湖附近社区的房产销售很活跃,本地区的很多售房者在定价方面很灵活也希望达成交易。还有,恢复了数个住宅开发项目——这是近些年马提思坎普、谢弗的米尔以及格瑞的十字路口地区最大的住宅项目。第2季度末,随着寒拉斯山冬季的到来,房产销售量将开始再次回升,新一轮的游客将从湾区和萨克拉门托来到这里。

前景展望:美丽的太浩湖/特拉基在夏季的这几个月是忙碌的,吸引了很多新购房者到这里来。太浩湖很多地区的房价仍未回到其衰退前的峰值水平,因此,这里的房价存在很大的讨价还价空间。展望第4季度及以后,即将到来的厄尔尼诺冬天给我们很多信心,它将为寒拉斯山带来降雪(和游客)并为本州其他地区带来充足的降水。

区域界定:我们在太浩湖/特拉基地区的房地产市场包括下列地区:阿尔派梅多斯、唐纳湖、郎唐、马尔蒂斯谷、太浩湖北岸、北极星、斯阔谷、太浩市、太浩唐纳、特拉基以及太浩湖西岸。下方图表中的销售数据包括这些社区内的独栋住宅。

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Page 48: Pacific Union Q2 2015 Market Report – Mandarin

8.7

11.0

7.4 7.1

6.0 5.1

4.6

6.4

8.0

6.1 6.7

8.0

6.2

0.1

2.1

4.1

6.1

8.1

10.1

12.1

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for single-family homes in the Lake Tahoe/Truckee region.

72 66 54

89 88

127 118

110

143

188

102

83

60

0

20

40

60

80

100

120

140

160

180

200

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for single-family homes sold in the Lake Tahoe/Truckee region.  

10.6 8.6

7.0 6.5 6.2 6.2

9.9

14.5

11.3 9.3

19.2

9.3

12.9

0.1

5.1

10.1

15.1

20.1

25.1

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Months' supply of inventory for condominiums in the Lake Tahoe/Truckee region.

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Page 49: Pacific Union Q2 2015 Market Report – Mandarin

83

127

53

197

154

101 120 122

138

112 100

73

44

0

50

100

150

200

250

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Average days on market for condominiums sold in the Lake Tahoe/Truckee region.  

9.6%

13.7%

11.9%

9.1%

14.5%

4.7%

9.3%

11.7%

7.0% 6.3%

9.7%

7.9%

6.6%

0%

2%

4%

6%

8%

10%

12%

14%

16%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of condominiums under contract in the Lake Tahoe/Truckee region.  

8.5%

10.9%

12.4% 12.3% 13.6% 13.0%

10.2%

12.4% 12.9% 13.1%

15.3% 14.0%

11.9%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Percentage of single-family homes under contract in the Lake Tahoe/Truckee region.  

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Page 50: Pacific Union Q2 2015 Market Report – Mandarin

95.6% 96.2% 95.2%

93.3%

91.9%

89.8% 90.9%

88.6% 88.2%

94.9%

92.1% 91.5%

96.3%

84%

86%

88%

90%

92%

94%

96%

98%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for single-family homes under contract in the Lake Tahoe/Truckee region.

96.7%

94.1%

96.0% 96.4%

89.0%

87.6% 87.3%

92.7%

91.3%

94.3% 94.3% 94.1%

96.8%

82%

84%

86%

88%

90%

92%

94%

96%

98%

Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

Source: Terradatum, July 6, 2015. Sales price as % of original price (including adjustments) for condominiums under contract in the Lake Tahoe/Truckee region.

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Page 51: Pacific Union Q2 2015 Market Report – Mandarin

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Alpine Meadows 4,270,000$ 2,682,600$ -37% 5 4 -20% 127 48 -62% 545,000$ 673,800$ 24%

Donner Lake 10,821,000$ 5,647,180$ -48% 14 8 -43% 100 154 54% 532,500$ 562,500$ 6%

Donner Summit 6,396,300$ 5,753,625$ -10% 10 12 20% 118 98 -17% 542,500$ 457,000$ -16%

Martis Valley 48,118,709$ 22,662,000$ -53% 25 22 -12% 122 53 -57% 1,735,000$ 492,000$ -72%

North Lake Tahoe 42,773,450$ 44,563,612$ 4% 55 60 9% 94 111 18% 515,000$ 560,000$ 9%

Northstar 5,869,000$ 4,727,500$ -19% 6 6 0% 376 167 -56% 839,500$ 745,000$ -11%

Squaw Valley 8,288,000$ 2,219,000$ -73% 4 3 -25% 35 214 511% 2,026,500$ 680,000$ -66%

Tahoe City 14,453,700$ 13,294,500$ -8% 16 17 6% 103 38 -63% 552,750$ 675,000$ 22%

Tahoe Donner 32,865,350$ 31,943,300$ -3% 51 51 0% 27 55 104% 595,000$ 555,000$ -7%

Truckee 59,333,922$ 37,732,051$ -36% 48 51 6% 77 52 -32% 524,639$ 477,000$ -9%

West Shore 36,194,426$ 14,794,000$ -59% 38 22 -42% 146 103 -29% 508,250$ 567,500$ 12%

Source: Terradatum, July 6, 2015. Data is for single-family homes in the Lake Tahoe/Truckee region.

Lake Tahoe/Truckee Snapshot: SFH, Q2 2015 vs. Q2 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change Q2 '14 Q2 '15 % change

Alpine Meadows 1,009,000$ 595,000$ -41% 3 2 -33% 46 115 150% 334,000$ 297,500$ -11%

Donner Lake 55,000$ -$ n/a 1 0 n/a 76 0 n/a 55,000$ -$ n/a

Donner Summit 115,000$ -$ n/a 1 0 n/a 274 0 n/a 115,000$ -$ n/a

North Lake Tahoe 9,257,969$ 7,828,425$ -15% 21 14 -33% 88 44 -50% 350,000$ 309,500$ -12%

Northstar 6,512,340$ 4,387,250$ -33% 13 11 -15% 50 63 26% 350,000$ 325,000$ -7%

Squaw Valley 4,927,000$ 1,815,000$ -63% 8 4 -50% 224 249 11% 611,500$ 290,000$ -53%

Tahoe City 3,150,100$ 5,685,425$ 80% 7 8 14% 51 49 -4% 393,000$ 349,500$ -11%

Tahoe Donner 3,792,970$ 2,525,000$ -33% 15 9 -40% 53 50 -6% 256,000$ 292,000$ 14%

Truckee 3,863,000$ 6,027,808$ 56% 8 11 38% 99 78 -21% 439,500$ 499,000$ 14%

West Shore -$ -$ n/a 0 0 n/a 0 0 n/a -$ -$ n/a

Lake Tahoe/Truckee Snapshot: Condos, Q2 2015 vs. Q2 2014

Source: Terradatum, July 6, 2015. Data is for condominiums in the Lake Tahoe/Truckee region.

Sales Volume Homes Sold Avg. Days on Market Median Price

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