marin county market update | q3 2014
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All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS)
Marin County Market UpdateThird Quarter 2014SAN FRANCISCO BROKERAGE
117 Greenwich Street
San Francisco, CA 94111
t. 415.901.1700
sothebyshomes.com
Ross, CA | web: 0086863Photography by Jacob Elliott
A MESSAGE FROM OUR MANAGER: Jeffrey G. Gibson
The third quarter of 2014 sales prices in Marin County remained strong when compared to the third quarter of 2013 according to the Bay Area Real Estate Information Services (BAREIS). The market trends in San Francisco carried over into Marin County, with many areas in the county seeing a double digit rise in the average sales price for single family homes. Overall, the county saw an 11 percent increase, moving up from $1,233,176 in Q3 2013 to $1,367,742 in Q3 2014.
While prices rose in response to the inventory shortage throughout the county, this also led to a 12 percent decline in the total number of homes sold in Marin County. Home sales dropped from 704 units sold in Q3 2013, to 620 units sold in Q3 2014. The increase in average sales prices and reduced number of sales kept the total sales volume almost flat at $847,999,792 in Q4 2014, a 2 percent decline from Q3 2013. The following charts depict market details of Marin County, Mill Valley, Ross, Kentfield Sausalito, Tiburon, Belvedere, and San Rafael.
MARIN COUNTY MARKET SUMMARY (SFH)
SAN RAFAEL MARKET SUMMARY (SFH)
In Marin County, the average sales price increased 11
percent, going from $1,233,176 in Q3 2013 to $1,367,742
in Q3 2014. The total number of homes sold fell from 704
units in Q3 2013 to 620 units in Q3 2014, a 12 percent
decrease. The total sales volume experienced a modest
2 percent decrease, going from $868,155,747 in Q3 2013
to $847,999,792 in Q3 2014. There was a lot of movement
for homes priced above $3 million. In particular, the total
number of sales for homes priced above $3 million nearly
doubled, moving up from 21 units in Q3 2013 to 40 units
in Q3 2014, a 90 percent increase.
Low inventory across San Rafael contributed to a decline
in both the total number of sales and total closed volume.
in the third quarter of 2014. There was a 20 percent
drop in total sales, down from 149 units in Q3 2013 to
119 units in Q3 2014 and a 10 percent decrease in total
sales volume, falling from $135,372,279 in Q3 2013 to
$121,590,750 in Q3 2014. Since 2010, the average sales
price has steadily increased every third quarter. The lack
of inventory throughout the city helped the average sales
price eclipse $1 million ($1,021,771), increasing 12 percent
from Q3 2013 to Q3 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.
59%49%
6%
Q3-2014 - SAN RAFAEL VOLUME
< $1.0M
$1.0M - $3.0M
$3.0M and up
26%
53%
21%
Q3-2014 - MARIN COUNTY VOLUME
< $1.0M
$1.0M - $3.0M
$3.0M and up
A MESSAGE FROM OUR MANAGER:
Jeffrey G. Gibson
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 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION 358 461 388 299 -23%
$1 - $3 MILLION 139 191 295 281 -5%
$3 MILLION AND UP 19 15 21 40 90%
TOTALS 516 667 704 620 -12%
Q3 CLOSED UNITS: # OF SIDES (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $229,008,302 $299,340,211 $277,024,039 $223,537,350 -19%
$1 - $3 MILLION $214,486,065
$290,922,484
$464,996,638 $450,614,252 -3%
$3 MILLION AND UP $76,054,769 $63,615,000 $126,135,070 $173,848,190 38%
TOTALS $519,549,136 $653,877,695 $868,155,747 $847,999,792 -2%
Q3 CLOSED VOLUME (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $639,688 $649,328 $713,979 $747,617 5%
$1 - $3 MILLION $1,543,065 $1,523,154 $1,576,260 $1,603,609 2%
$3 MILLION AND UP $4,002,883 $4,241,000 $6,006,432 $4,346,205 -28%
TOTALS $1,006,878 $980,326 $1,233,176 $1,367,742 11%
Q3 AVERAGE SALES PRICE (SFH)
$- $200,000 $400,000 $600,000 $800,000
$1,000,000 $1,200,000 $1,400,000 $1,600,000
2011 2012 2013 2014
Average List Price Average Sales Price
-
100
200
300
400
500
600
700
800
2011 2012 2013 2014
$- $100,000,000 $200,000,000 $300,000,000 $400,000,000 $500,000,000 $600,000,000 $700,000,000 $800,000,000 $900,000,000
$1,000,000,000
2011 2012 2013 2014
4SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
SINGLE FAMILY HOME SALES
Mill Valley, about 14 miles north of San Francisco, is located on the western and
northern shores of Richardson Bay. Mill Valley is known for being a town with
a strong artistic heritage, with its many art galleries and town sponsorship of
the Mill Valley Film Festival, which is part of the California Film Institute. The
combination of Mill 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
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION 35 56 34 19 -44%
$1 - $3 MILLION 30 47 59 60 2%
$3 MILLION AND UP 1 4 1 6 500%
TOTALS 66 107 94 85 -10%
Q3 CLOSED UNITS: # OF SIDES (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $26,060,288 $42,055,850 $28,216,530 $15,214,400 -46%
$1 - $3 MILLION $46,093,000 $72,401,780 $92,805,787 $96,687,050 4%
$3 MILLION AND UP $4,850,000 $15,435,000 $4,760,000 $26,005,000 446%
TOTALS $77,003,288 $129,892,630 $125,782,317 $137,906,450 10%
Q3 CLOSED VOLUME (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $744,580 $750,997 $829,898 $800,758 -4%
$1 - $3 MILLION $1,536,433 $1,540,463 $1,572,979 $1,611,451 2%
$3 MILLION AND UP $4,850,000 $3,858,750 $4,760,000 $4,334,167 -9%
TOTALS $1,166,716 $1,213,950 $1,338,110 $1,622,429 21%
Q3 AVERAGE SALES PRICE (SFH)
$- $200,000 $400,000 $600,000 $800,000
$1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000
2011 2012 2013 2014
Average List Price Average Sales Price
-
20
40
60
80
100
120
2011 2012 2013 2014
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000
2011 2012 2013 2014
5
SINGLE FAMILY HOME SALES
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
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION 5 7 1 1 0%
$1 - $3 MILLION 17 17 27 23 -15%
$3 MILLION AND UP 3 4 4 11 175%
TOTALS 25 28 32 35 9%
Q3 CLOSED UNITS: # OF SIDES (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $3,425,000 $5,195,800 $847,000 $900,000 6%
$1 - $3 MILLION $28,091,500 $25,981,800 $52,874,363 $44,536,711 -16%
$3 MILLION AND UP $13,581,769 $19,160,000 $25,905,770 $55,682,500 115%
TOTALS $45,098,269 $50,337,600 $79,627,133 $101,119,211 27%
Q3 CLOSED VOLUME (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $685,000 $742,257 $847,000 $900,000 6%
$1 - $3 MILLION $1,652,441 $1,528,341 $1,958,310 $1,936,379 -1%
$3 MILLION AND UP $4,527,256 $4,790,000 $6,476,443 $5,062,045 -22%
TOTALS $1,803,931 $1,797,771 $2,488,348 $2,889,120 16%
Q3 AVERAGE SALES PRICE (SFH)
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
2011 2012 2013 2014
Average List Price Average Sales Price
-
5
10
15
20
25
30
35
40
2011 2012 2013 2014
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
2011 2012 2013 2014
6SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
SINGLE FAMILY HOME SALES
The waterfront town of Sausalito is located just across the Golden Gate Bridge
from San Francisco. The charming town offers an array of boutique shops,
art studios and galleries, restaurants and outdoor cafes and bistros, many
with incredible views of the San Francisco Bay and city skyline. Sausalito is
adjacent to the protected areas of the Golden Gate National Recreation Area,
a popular camping and tourist destination.
SAUSALITO
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION 5 5 3 5 67%
$1 - $3 MILLION 12 8 15 14 -7%
$3 MILLION AND UP 1 1 3 2 -33%
TOTALS 18 14 21 21 0%
Q3 CLOSED UNITS: # OF SIDES (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $3,948,000 $4,291,000 $2,040,000 $3,637,500 78%
$1 - $3 MILLION $18,794,000 $13,452,500 $26,034,333 $25,248,000 -3%
$3 MILLION AND UP $3,200,000 $3,575,000 $15,723,000 $7,978,000 -49%
TOTALS $25,942,000 $21,318,500 $43,797,333 $36,863,500 -16%
Q3 CLOSED VOLUME (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $789,600 $858,200 $680,000 $727,500 7%
$1 - $3 MILLION $1,566,167 $1,681,563 $1,735,622 $1,803,429 4%
$3 MILLION AND UP $3,200,000 $3,575,000 $5,241,000 $3,989,000 -24%
TOTALS $1,441,222 $1,522,750 $2,085,587 $1,755,405 -16%
Q3 AVERAGE SALES PRICE (SFH)
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2011 2012 2013 2014
Average List Price Average Sales Price
-
5
10
15
20
25
2011 2012 2013 2014
$- $5,000,000
$10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 $50,000,000
2011 2012 2013 2014
7
SINGLE FAMILY HOME SALES
Tiburon occupies most of the Tiburon Peninsula, while the smaller city of
Belvedere occupies the southeast portion of the Peninsula. Tiburon is a
popular town amongst commuters and tourists, linked by ferry services
to San Francisco. The town offers a high concentration of restaurants and
boutiques and is the closest mainland point to Angel Island. Belvedere is
home to many properties renowned for their spectacular views of the Bay
Area, Angel Island, San Francisco, Sausalito, the Golden Gate Bridge and
Mount Tamalpais.
TIBURON and BELVEDERE
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION 7 7 4 - -100%
$1 - $3 MILLION 25 31 34 25 -26%
$3 MILLION AND UP 12 5 12 14 17%
TOTALS 44 43 50 39 -22%
Q3 CLOSED UNITS: # OF SIDES (SFH)
Q3 CLOSED VOLUME (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $912,143 $853,057 $802,500 n/a n/a
$1 - $3 MILLION $1,722,628 $1,889,968 $1,994,419 $2,070,340 4%
$3 MILLION AND UP $3,856,083 $4,289,000 $6,295,525 $3,915,906 -38%
TOTALS $2,175,538 $2,000,126 $2,931,331 $2,732,851 -7%
Q3 AVERAGE SALES PRICE (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $6,385,000 $5,971,400 $3,210,000 - -100%
$1 - $3 MILLION $43,065,690 $58,589,000 $67,810,250 $51,758,500 -24%
$3 MILLION AND UP $46,273,000 $21,445,000 $75,546,300 $54,822,690 -27%
TOTALS $95,723,690 $86,005,400 $146,566,550 $106,581,190 -27%
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
2011 2012 2013 2014
Average List Price Average Sales Price
-
10
20
30
40
50
60
2011 2012 2013 2014
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000
2011 2012 2013 2014
8SERVING MARIN COUNTY AND SAN FRANCISCO sothebyshomes.com/sanfrancisco
SINGLE FAMILY HOME SALES
Sitting in the heart of Marin County, San Rafael is one of the oldest and
largest cities in the county. The 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
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION 100 112 111 81 -27%
$1 - $3 MILLION 12 19 38 37 -3%
$3 MILLION AND UP 2 1 - 1 n/a
TOTALS 114 132 149 119 -20%
Q3 CLOSED UNITS: # OF SIDES (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $64,678,450 $73,210,060 $82,069,234 $62,981,750 -23%
$1 - $3 MILLION $15,649,000 $25,644,200 $53,303,045 $52,659,000 -1%
$3 MILLION AND UP $8,150,000 $4,000,000 - $5,950,000 n/a
TOTALS $88,477,450 $102,854,260 $135,372,279 $121,590,750 -10%
Q3 CLOSED VOLUME (SFH)
PRICE RANGE 2011 2012 2013 2014 % CHANGE(2014 v 2013)
UP TO $1 MILLION $646,785 $653,661 $739,362 $777,552 5%
$1 - $3 MILLION $1,304,083 $1,349,695 $1,402,712 $1,423,216 1%
$3 MILLION AND UP $4,075,000 $4,000,000 n/a $5,950,000 n/a
TOTALS $776,118 $779,199 $908,539 $1,021,771 12%
Q3 AVERAGE SALES PRICE (SFH)
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2011 2012 2013 2014
Average List Price Average Sales Price
-
20
40
60
80
100
120
140
160
2011 2012 2013 2014
-
20,000,000
40,000,000
60,000,000
80,000,000
100,000,000
120,000,000
140,000,000
160,000,000
2011 2012 2013 2014
MILL VALLEY TUSCANWeb ID: 0086815 | $3,500,000
Strawberry area of Mill Valley. Entertainers home,
secluded, sunny with views. Great commute
location. MillValleyTuscan.com
David Ogden | 415.308.5025
UPPER LUCAS VALLEY MODERNWeb ID: 0086917 $2,675,000
Modern approx. 5,200 sq.ft. 4bd/3.5ba estate
set among rolling hills. Separate artists loft, pool,
greenbelt views. 20Westgate.com
Craig Swanson | 415.901.1751
THE LAGOON LIFE Web ID: 0086851 | $2,200,000
Stinson Beach home with a luxurious master
suite and an updated kitchen and dining area that
opens onto a deck and a private diving dock.
Butch Haze | 415.296.2220
FEATURED PROPERTIES
Auction & Exhibition Calendar 2014
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NEW YORK OCTOBER / NOVEMBER18 Kentshire: A Legendary Collection22 Important English and European Decorative Arts23 Important Silver, Vertu & Russian Works of Art29 Property from the Estate of Rochelle Sepenuk, Part II29 19th Century Furniture and Decorative Art30 Printsnov. 4 Impressionist & Modern Art Evening Sale5 Impressionist & Modern Art Day Sale6 19th Century European Art10 Property from the Collection of Mrs. Paul Mellon:
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PARIS OCTOBER / NOVEMBER23 Regards sur l’Orient – Tableaux et Sculptures –
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