Table of Contents. Letter from the President Page 4. Regional Market Trends Page 5. The Luxury Market Page 8. San Francisco County Page 12

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3 Table of Contents Letter from the President Page 4 Regional Market Trends Page 5 The Luxury Market Page 8 San Francisco County Page 12 San Mateo County Page 16 Marin County Page 18 Napa County Page 20 Sonoma County Page 22 Alameda County Page 24 Contra Costa County Page 26 Counties Represented Napa Sonoma Marin San Francisco Contra Costa Alameda San Mateo Page 3 McGuire Real Estate Quarterly Report - 1st Quarter 2017

4 Letter from the President Charles Moore President and CEO Despite Inventory Shortage, Q Shows Signs of Market Health At a time when limited inventory and skyrocketing prices have become the norm, Q exhibited healthy enough activity to both satisfy sellers and also provide prospective buyers with a bit of optimism. The two main themes this quarter were steady average sales price growth and a slight bump in overall sales volume from the shortcomings witnessed in Q and Q In relation to sales prices, steady is a key word here: The double-digit percentage hikes that have become commonplace in the Bay Area over the past few years were replaced by a healthier 5 percent overall average sales price gain from Q While this number should remain encouraging to sellers, it should also give buyers the perspective that if they can successfully navigate the still-depleted market, they generally won t be doing so at a time of astronomical price increases. It also comes as a welcome buyer sign that this increase was below the 7.5 percent median list price increase reported nationwide in March. As for the lingering inventory concerns, there s no denying that availability will continue to factor heavily into market navigation and list prices for the foreseeable future. That said, the 6,260 homes sold this quarter across all seven counties was a subtlebut-encouraging 4 percent year-over-year increase. Q exhibited healthy enough activity to both This activity included more affordable areas like Napa County experiencing its highest Q1 sales satisfy sellers and also provide prospective buyers volume since 2012 and Alameda and Contra Costa Counties up 5 percent and 7 percent in year-overyear sales volume, respectively. The East Bay luxury with a bit of optimism. sector as defined by the top 10 percent of homes sold also saw massive sales volume growth, to the tune of a 66 percent gain year-over-year. As we look toward Q2, a healthy and finally (somewhat) stabilized market should bring more sellers out of the woodwork. Buyers will still have to contend with strong competition and quickening turnover rates. That said, the CALIFORNIA ASSOCIATION OF REALTORS estimate of a 4.3 percent increase on state median sales price gains for 2017 spelling the lowest forecasted gains in six years seems reasonable, as does its projection of a modest increase in overall sales. Buyers should also be enthused that the market looks to remain hot as opposed to blazing as ongoing growth speaks to a confident return on investment. Lastly, they shouldn t be intimidated by huge list prices, as sellers are often vastly overshooting (see: the 14 percent loss on list price for sellers who tested the Q Mid-Peninsula market). As for sellers, they can simply continue to ride the wave of the most desirable major market in the nation. Download the complete Quarterly Report at: mcguire.com/quarterly_report Page 4 McGuire Real Estate Quarterly Report - 1st Quarter 2017

5 Regional Market Trends The Q market remained strong, with sales prices up an average of 5 percent across the seven Bay Area counties that we serve. Adding to the health of these gains was a slight 4 percent uptick on overall sales volume from the severely low tally witnessed a year prior. While homes began to move a bit more rapidly than in quarters past, and inventory remains very low, buyers can take some comfort in the fact that price gains aren t generally seeing the double-digit percentage gains that became customary in 2015 and The city s $1.761 million average home sales price and $1.3 million average condominium sales price were up 4 percent and 5 percent year-over-year, respectively. Both sectors also displayed healthy year-over-year sales volume gains of 9 percent. The only minor factor that seemed out of line with this quarter s overall trends was the slight rise in the average days on market (DOM) from the previous year. This quarter showed the type of performance that city buyers have been looking for modest growth in average sales prices, sales volume slightly up, and homes not fleeing the market as rapidly as in the past. The East Bay also exemplified these more general trends of the Bay Area s first quarter. Alameda County posted its second-highest average sales mark on record, although only at a gain of 7 percent from Q In turn, Contra Costa County posted its fourth-highest mark of $718,957 a 5 percent gain year-over-year. These two counties with the highest sales volume totals in the Bay Area also posted year-overyear gains of 5 percent in Alameda and 7 percent in Contra Costa. The East Bay s average DOM, while in line with recent trends, saw the average home selling in less than four weeks. The North Bay was more scattered in its behavior, but as a whole, these three counties were in line with general first quarter trends. Napa County saw its average sales price drop 9 percent from the previous year. Yet at the same time it witnessed a 16 percent gain in year-overyear sales volume its highest Q1 figure since Conversely, Marin and Sonoma Counties saw eye-popping gains in average home sales prices of 13 percent and 12 percent, respectively. These two counties experienced the third-lowest sales volume tallies in the past eight years. The Mid-Peninsula saw a 3 percent gain on average sales price, a speedy 26 DOM average for its seven-figure price range, and its lowest sales volume in seven years. Buyers should expect that last number to swing dramatically upward as sellers jump off the sideline for a busy second quarter of the year. All REGIONS Average Sales Price Days on Market Average Price Per Sq. Ft. Quantity Q $978, $518 6,260 change -3% 3% 4% -27% Q $1,004, $499 8,543 Q $978, $518 6,260 change 5% -4% 7% 4% Q $927, $486 6,000 $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 0 Average Sales Price Five Years/Quarter (in thousands) East Bay North Bay Mid-Peninsula San Francisco Page 5 McGuire Real Estate Quarterly Report - 1st Quarter 2017

6 Regional Market Share The Bay Area netted $6.126 billion in total sales this quarter for its 6,260 homes sold. The East Bay provided 60 percent of all sales and 49 percent of the cash share. The Mid-Peninsula contributed 11 percent of all sales and 18 percent of total cash share. The North Bay claimed 22 percent of all sales and 22 percent of total cash share. San Francisco added 6 percent of all sales and 11 percent of total cash share. None of these numbers were abnormal, although the East Bay s market dominance was slightly more pronounced than in recent quarters. Market Share by Unit A San Francisco 6 % A San Francisco 11 % Market Share by Volume Mid-Peninsula 11 % Mid-Peninsula 18 % North Bay 22 % North Bay 22 % East Bay 60 % East Bay 49 % Page 6 McGuire Real Estate Quarterly Report - 1st Quarter 2017

7 Quantity Sold by Price Single-Family Homes North Bay: 1,407 Marin, Napa, Sonoma East Bay: 3,763 Contra Costa, Alameda San Francisco: 381 > $5,000,000 < $4,000,000 < $3,000,000 Mid-Peninsula: 709 < $2,000,000 < $1,000,000 > $1,000,000 Page 7 McGuire Real Estate Quarterly Report - 1st Quarter 2017

8 The Luxury Market Defined by the top 10 percent of an area s sales, the luxury market showed slightly counterintuitive to trends to those seen in the general market. Here we saw a mix of noticeable average sales price dips combined with some massive upswings in sales volume. Given the smaller size of this data pool and the fact that many of the Bay Area s highest-priced homes have already passed through the market any major gains or losses here shouldn t be viewed with the same scrutiny one might apply to the general market. The most interesting market activity took place in the East Bay. The region s average $1.808 million luxury home sale was down 13 percent year-over-year. However, this drop was easily offset by the 376 homes sold up a massive 66 percent from the 227 sales in the previous year. Average DOM was up 17 percent from the previous year and 33 percent from the previous quarter. The combination of these three factors points to an East Bay luxury sector that is at one of its most attractive points for sellers in several years. San Francisco s $4.77 million average home sale showed no noticeable gain from a year prior. Its 45 luxury home sales were up from the 35 total that occurred in Q The average 45 DOM also moved at a 16 percent slower pace compared to the previous year. As was the case in the East Bay, these numbers should encourage buyers looking to navigate the small terrain of San Francisco luxury properties. The Mid-Peninsula s luxury market experienced slightly different trends during this first quarter of the year, with its $3.948 million average sale down 7 percent year-over-year. Its 71 homes sold in total was also slightly down from the 76 total homes sold last year. Sellers can be reassured that this market is still red-hot, as was evidenced by the 31 DOM average for Mid-Peninsula luxury homes a 28 percent faster rate than a year prior, and a 47 percent faster rate than in the previous quarter. Finally, the North Bay provided a bit more predictability and stability. Its $2.904 million average home sale was up 9 percent year-over-year, and its 140 total sales were right in line with those of Q The average 111 DOM here moved at 12 percent faster rate year-over-year. Page 8 McGuire Real Estate Quarterly Report - 1st Quarter 2017

9 SAN FRANCISCO Average Sales Price Quantity Days on Market Average Price Per Sq. Ft. Q $4,769, $1,164 change -16% -26% -29% 26% Q $5,653, $927 Q $4,769, $1,164 change 0% 29% 16% -13% Q $4,790, $1,341 MID-PENINSULA Average Sales Price Quantity Days on Market Average Price Per Sq. Ft. Q $3,948, $1,178 change -22% -37% -47% 1% Q $5,073, $1,169 Q $3,948, $1,178 change -7% -7% -28% -2% Q $4,225, $1,197 NORTH BAY Average Sales Price Quantity Days on Market Average Price Per Sq. Ft. Q $2,903, $855 change 11% -24% 18% -3% Q $2,614, $879 Q $2,903, $855 change 9% 2% -12% 4% Q $2,663, $820 EAST BAY Average Sales Price Quantity Days on Market Average Price Per Sq. Ft. Q $1,807, $568 change 2% -26% 33% 2% Q $1,764, $558 Q $1,807, $568 change -13% 66% 17% 4% Q $2,074, $548 Page 9 McGuire Real Estate Quarterly Report - 1st Quarter 2017

10 Bay Area Luxury Market Share The Mid-Peninsula continued to lead the luxury market in sales volume at 34 percent and cash share at 33 percent during the first quarter of San Francisco accounted for 20 percent of all sales and a strong 23 percent of cash share. The East Bay contributed 24 percent of all sales and 20 percent of cash share. The North Bay s 22 percent of total sales and 24 percent of cash share were the most common figures in terms of recent trends. In all, the 635 luxury homes sold across the Bay Area s seven counties accounted for a total of $1.727 billion A Market Share by Unit A Market Share by Volume San Francisco 20 % Mid-Peninsula 34 % San Francisco 23 % Mid-Peninsula 33 % North Bay 22 % North Bay 24 % East Bay 24 % East Bay 20 % Page 10 McGuire Real Estate Quarterly Report - 1st Quarter 2017

11 Sales Trends Price Range As a Percent of Sales $0-$500K $500K-$1M $1M-$2M $2M-$3M $3M-$5M $5M+ San Francisco Single-Family Homes Q % 20 % 40 % 60 % 80 % 100 % 29 % 46 % 13 % 9 % = Luxury Homes Price Per Square Foot 3 % > $1,000/sqft >= $1,000/sqft >= $900/sqft >= $700/sqft >= $500/sqft < $500/sqft Q Q % 51 % 12 % 8 % 1 % 29 % 47 % 13 % 7 % = = 3 % 3 % Mid-Peninsula 0 % 20 % 40 % 60 % 80 % 100 % Q % 35 % 44 % 12 % 6 % = = 1 % Q % 47 % 10 % 5 % 2 % Q % 41% 10% =1% 5% 2 % North Bay 0 % 20 % 40 % 60 % 80 % 100 % Q % 50 % 17 % 3 % = = 1 % 1 % Q Q % 53 % 19 % 4 % 38% 41 % 15 % 4 % = 1 % 1 % 2 % 1 % East Bay Q % 20 % 40 % 60 % 80 % 100 % 27 % 49 % 21 % = = 1%.37%.05 % Q Q % 51 % 20 % 34 % 47 % 17 % = 2 %.44 % 0.02 % 2 %.3 % 0.06 % Page 11 McGuire Real Estate Quarterly Report - 1st Quarter 2017

12 San Francisco County Single-Family Homes With demand as strong as ever, San Francisco saw its average home sales price of $1.761 million up 4 percent from Q1 2016, and at its fourth-highest peak in market history. Supply remained tight, with only 381 homes selling this quarter. While this sales volume figure was low from a historical standpoint, it was still a 9 percent gain year-over-year. This slight uptick combined with more sellers entering the fray after holding out in Q should translate to a wealth of opportunities for prospective buyers with cash in hand as we enter the busy spring season. The average 35 DOM this quarter was very much in line with typical San Francisco sales behavior. SAN FRANCISCO - SFH Average Sales Price Days on Market Average Price Per Sq. Ft. Q $1,761, $877 change -4% 2% 1% Q $1,833, $870 Q $1,761, $877 change 4% 15% 2% Q $1,688, $862 Page 12 McGuire Real Estate Quarterly Report - 1st Quarter 2017

13 Quantity Sold Five Years/Quarter $1,800 $1,700 $1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000 $900 Average Sales Price Five Years/Quarter (in thousands) Sales Price Change Sellers aggressively tested the market s ceiling this quarter. For some, the risk played out quite favorably, as those who required no price change netted 14 percent on top of initial list price a Bay Area high for the quarter. The flipside of the equation was that those who tested the market ended up seeing an 11 percent drop on initial list price the second-largest downward deviation amongst all seven counties. Sales without price change with price change Q % -11% Q % -8% San Francisco Single-Family Home Sales Price by Square Foot Average Sales Price by Neighborhood - The Top 10 As is typical in first quarter of each year, it was difficult gauge San Francisco s granular area gains due to a dearth of sales. That said, the city s North side remained extremely strong, with activity including three sales at over $10 million in Presidio Heights and a handful sales at $5 million or above across several parts of the city. Neighborhood Q Q change Presidio Heights $8,332,500 $2,800, % Alamo Square $7,350,000 N/A N/A Pacific Heights $5,440,833 $6,519,833-17% Sea Cliff $5,375,000 $3,887,500 38% Cole Valley/Parnassus Hgts $4,450,000 $2,966,667 50% > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft North Panhandle $3,500,000 N/A N/A Marina District $3,260,000 $3,023,750 8% Hayes Valley $3,250,000 $1,475, % Eureka Valley/Dolores Hgts $3,045,781 $2,300,000 32% Buena Vista/Ashbury Hgts $3,010,000 $3,359,233-10% Page 13 McGuire Real Estate Quarterly Report - 1st Quarter 2017

14 San Francisco County Condominiums The ongoing strength of San Francisco s condominium market carried into the start of the year, with its average $1.3 million sales up 5 percent year-over-year, making it the highest figure in city history. This also marked the sixth straight quarter in which city units have averaged more than $1.198 million illustrating a prolonged pattern of both predictability and strength. This activity occurred while 471 units moved the highest Q1 figure since 2014 and a 9 percent year-over-year gain. The average 38 DOM showed a slightly slower rate of turnaround than the 34 seen in Q All these factors point to a market that, while seller-leaning, is consistent enough to afford opportunities to those willing to make a large investment that shows no signs of depreciation. SAN FRANCISCO - CONDOMINIUMS Average Sales Price Days on Market Average Price Per Sq. Ft. Q $1,299, $1,043 change 6% -3% 2% Q $1,229, $1,019 Q $1,299, $1,043 change 5% 11% 0% Q $1,242, $1,045 Page 14 McGuire Real Estate Quarterly Report - 1st Quarter 2017

15 $ Quantity Sold Five Years/Quarter $1,300 $1,200 $1,100 $1,000 $900 $800 Average Sales Price Five Years/Quarter (in thousands) Sales Price Change The stabilized pricing seen over the past two years has created for a market in which buyers and sellers both have a good idea of what to expect. Those who required no price change netted a healthy 5 percent on top of initial listing and those who tested the market recovered 93 percent of their initial ask. Sales without price change with price change Q % -7% Q % -9% San Francisco Condominium Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft Average Sales Price by Neighborhood - The Top 10 Double digit percentage gains were had in the majority of the city s condominium sectors. Among the most impressive were year-over year gains of 49 percent in South of Market, 39 percent in the Inner Richmond, and 20 percent in Mission Dolores. Neighborhood Q Q change Russian Hill $2,649,306 $2,330,000 14% Presidio Heights $2,137,500 $2,312,500-8% Financial District $1,929,167 $1,695,833 14% Mission Dolores $1,886,100 $1,575,071 20% Laurel Heights $1,787,500 $1,110,000 61% Pacific Heights $1,767,253 $1,974,988-11% Duboce Triangle $1,721,250 $1,225,000 41% Alamo Square $1,683,900 $850,000 98% Noe Valley $1,568,833 $1,235,135 27% Inner Richmond $1,564,167 $1,123,750 39% Page 15 McGuire Real Estate Quarterly Report - 1st Quarter 2017

16 San Mateo County Single-Family Homes The Mid-Peninsula s high demand and constrained supply led to another quarter of comfortable gains for sellers coupled with limited market movement. The $1.569 million average sale here was up 3 percent yearover-year, and marked the ninth consecutive quarter in which the Mid-Peninsula has topped $1.5 million. As many sellers waited on the sidelines for what looks to be a promising Q2 2017, only 709 homes sold across San Mateo County. This marked the lowest quarterly sales volume tally since The rapid pace of average 26 DOM further exemplified what a tight and in-demand market we have at hand. While pricing will stay high, buyers should expect a much wider array of options as spring kicks into gear. SAN MATEO COUNTY Average Sales Price Days on Market Average Price Per Sq. Ft. Q $1,569, $841 change -5% -15% 3% Q $1,659, $816 Q $1,569, $841 change 3% -8% 5% Q $1,525, $804 Page 16 McGuire Real Estate Quarterly Report - 1st Quarter 2017

17 Quantity Sold Five Years/Quarter $1,700 Average Sales Price Five Years/Quarter (in thousands) $1, $1,500 $1,400 $1,300 $1,200 $1,100 $1,000 $900 Sales Price Change Several San Mateo County sellers priced boldly during the first Average Sales Price by City - quarter of While those who required no price change netted 5 percent on top of initial listing, the 14 percent loss on The Top 10 asking price for those who tested the market was the largest drop-off amongst all seven counties. Sales without price change with price change Q % -14 % sales price from Q Q % -15 % San Mateo County Single-Family Home Sales Price by Square Foot For the first four months in 2017, the average price per square foot of a single-family home in Burlingame has been at or above $1,000. Furthermore, Burlingame saw its average home sales price rise 6 percent year-over-year. Another impressive figure was the city of San Mateo s 16 percent gain in average City Q Q change Atherton $4,771,364 $6,027,462-21% Hillsborough $4,488,158 $4,150,794 8% Portola Valley $2,579,731 $2,907,000-11% Menlo Park $2,287,960 $2,264,212 1% > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft Burlingame $2,234,552 $2,109,848 6% Woodside $2,022,000 $3,842,714-47% San Carlos $1,915,390 $1,748,428 10% Foster City $1,757,523 $1,564,368 12% Redwood Shores $1,640,000 $1,698,727-3% Belmont $1,627,004 $1,449,058 12% Page 17 McGuire Real Estate Quarterly Report - 1st Quarter 2017

18 Marin County Single-Family Homes Marin County sellers had cause to celebrate in Q The $1.568 million average home sale here was the second-highest in market history, and was up 13 percent year-over-year. On the other hand, buyers had to deal with a competitive market in which multiple cash offers and low inventory were prevalent themes. The 331 homes sold while up 6 percent year-overyear was the second-lowest quarterly sales volume tally since Q Homes also moved quickly, with the 56 DOM average being 14 percent faster than the pace held in Q Buyers should expect minimal price growth and a near-twofold increase in overall sales and more options as we look to Q MARIN COUNTY Average Sales Price Days on Market Average Price Per Sq. Ft. Q $1,568, $667 change 9% -6% 5% Q $1,433, $634 Q $1,568, $667 change 13% -14% 8% Q $1,390, $620 Page 18 McGuire Real Estate Quarterly Report - 1st Quarter 2017

19 $1,600 $1,500 $1,400 $1,300 $1,200 $1,100 $1,000 $ Quantity Sold Five Years/Quarter Average Sales Price Five Years/Quarter (in thousands) Sales Price Change Homes that required no price changed sold at 103 percent of initial list price, while buyers who tested the market netted 90 percent of their initial ask. These were both standard numbers in relation to recent Marin County activity. Sales without price change with price change Q % -10% Q % -11% Average Sales Price by City - The Top 10 Of cities with decent-sized data pools, Kentfield excelled with its 42 percent year-over-year gain. Other notable sales came in the form of a Bay Area high closing at $14.46 million in Kentfield, as well as a $9.5 million sale of the architecturally renowned Sea Dragon Estate in Bolinas. The two properties had spent 199 and 299 days on the market, respectively. City Q Q change Marin County Single-Family Home Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft Belvedere $5,582,000 $3,465,000 61% Bolinas $5,145,000 $2,100, % Ross $3,455,000 $2,406,250 44% Kentfield $3,380,568 $2,382,000 42% Stinson Beach $3,083,333 $2,450,000 26% Tiburon $2,961,789 $3,477,467-15% Muir Beach $2,100,000 $1,273,500 65% Larkspur $2,096,000 $1,586,170 32% Sausalito $2,033,000 $2,515,500-19% Greenbrae $1,895,688 $1,861,286 2% Page 19 McGuire Real Estate Quarterly Report - 1st Quarter 2017

20 Napa County Single-Family Homes Napa County was the only Bay Area County to see a year-over-year average sales price drop, as its $873,923 average sale was down 9 percent from Q However, the region s sellers should not be the least bit concerned. This quarter s average still ranks within the top five Napa County quarterly averages on record, and comes at a time when the North Bay community is arguably the most desirable alternative to the sevenfigure San Francisco, Marin and San Mateo Counties. The 260 sales this quarter was the highest Q1 figure for Napa County since Q a rare gain during a quarter defined partially by severely limited inventory. The average 98 DOM here was a very typical number for the area. NAPA COUNTY Average Sales Price Days on Market Average Price Per Sq. Ft. Q $873, $425 change 9% 32% -3% Q $802, $439 Q $873, $425 change -9% -4% -2% Q $964, $435 Page 20 McGuire Real Estate Quarterly Report - 1st Quarter 2017

21 Quantity Sold Five Years/Quarter $900 Average Sales Price Five Years/Quarter (in thousands) $800 $700 $600 $500 $400 Sales Price Change Sellers generally priced high, with those requiring no price change seeing no gain on list price and those who tested the market recovering 90 percent of their initial asking price. Sales without price change with price change Q % -10% Q % -12% Napa County Single-Family Home Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft Average Sales Price by City - The Top 10 With a sizeable data pool of 20-plus sales, St. Helena performed quite well this quarter, showing a 28 percent yearover-year gain. Just over half these sales topped $1 million, with the highest coming in at $3.965 million amounting to an overall average of $1.883 million. City Q Q change St. Helena $1,883,368 $1,469,136 28% Yountville $1,273,750 $844,444 51% Rutherford $1,041,250 N/A N/A Angwin $965,000 $2,064,971-53% Napa $833,145 $858,670-3% Calistoga $747,140 $2,643,889-72% Pope Valley $610,000 $178, % American Canyon $528,559 $431,827 22% Deer Park N/A $3,300,000 N/A Page 21 McGuire Real Estate Quarterly Report - 1st Quarter 2017

22 Sonoma County Single-Family Homes Sonoma County sellers benefited hugely from being one of the most affordable Bay Area counties at a time when demand is at a premium. The region s $741,361 average sales price was up 12 percent year-over-year, and amounted to the highest quarterly sales average in market history. Sales volume was down just slightly from the previous year, but the 816 homes sold weren t much of an aberration during a time when sellers were strategically holding out until the busy spring selling season. The average 72 DOM exhibited just a slightly faster pace than the year prior. With wider inventory than the seven-figure markets and sales prices not expected to jump much after a very strong first quarter, buyers should be very excited about Q opportunities in Sonoma County. SONOMA COUNTY Average Sales Price Days on Market Average Price Per Sq. Ft. Q $741, $412 change 3% 7% 5% Q $720, $391 Q $741, $412 change 12% -4% 11% Q $661, $373 Page 22 McGuire Real Estate Quarterly Report - 1st Quarter 2017

23 Quantity Sold Five Years/Quarter Average Sales Price Five Years/Quarter (in thousands) $650 $600 $550 $500 $450 $400 Sales Price Change Average Sales Price by City - Sellers priced high, but also within reason of market demand. As such, sales above list price were scarce, although those who The Top 10 tested the market still recovered a comfortable 91 percent of initial asking price. $ Sales without price change with price change Q % -9% Q % -9% market growth. Sonoma County Single-Family Home Sales Price by Square Foot Of cities with sizable data pools, Sonoma proper saw some of the strongest growth, with its $1.082 million average sale up 21 percent year-over-year. While both Kenwood and Jenner appear to have had massive gains in Q1, both cities did not have a large enough number of sales to accurately justify such City Q Q change Penngrove $1,546,250 $1,037,500 49% Kenwood $1,483,421 $846,000 75% Jenner $1,387,500 $424, % Sonoma $1,082,349 $897,633 21% > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft Healdsburg $1,074,385 $1,058,299 2% Glen Ellen $1,030,667 $1,101,571-6% Geyserville $992,800 $872,500 14% Sebastopol $885,395 $750,242 18% The Sea Ranch $831,854 $732,580 14% Cotati $733,450 $558,105 31% Page 23 McGuire Real Estate Quarterly Report - 1st Quarter 2017

24 Alameda County Single-Family Homes As the East Bay remains an incredibly attractive alternative to the higher-priced and lower inventory seven-figure counties, Alameda County s $882,664 average sale ranked as its second-highest figure on record. This 7 percent year-over-year gain also marked the eighth consecutive quarter in which the county has surpassed $800,000. Its 1,746 sales in total was up 5 percent from Q1 2016, as well as from Q However, those previous quarters were some of the lowest figures of the past decade, giving some grounding to the perceived Q gain. The average 27 DOM was a standard number for a county that constantly exhibits some of the fastest turnaround times in the Bay Area. ALAMEDA COUNTY Average Sales Price Days on Market Average Price Per Sq. Ft. Q $882, $508 change 1% 0% 2% Q $873, $497 Q $882, $508 change 7% 6% 9% Q $821, $468 Page 24 McGuire Real Estate Quarterly Report - 1st Quarter 2017

25 $900 $850 $800 $750 $700 $650 $600 $550 $500 $ Quantity Sold Five Years/Quarter Average Sales Price Five Years/Quarter (in thousands) Sales Price Change Sellers generally priced well in Alameda County, with those requiring no change on initial asking price netting an additional 7 percent profit, while sellers who tested the market still recovered 92 percent of their opening ask. Average Sales Price by City - The Top 10 Highlights included a 15 percent gain in Berkeley and a 16 percent gain in Albany. Oakland also continued its upward surge as its $774,212 average home sale was up 10 percent from Q Sales without price change with price change Q % -8% Q % -7% Alameda County Single-Family Home Sales Price by Square Foot > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft City Q Q change Piedmont $2,318,725 $2,468,500-6% Sunol $1,443,500 $1,066,667 35% Pleasanton $1,260,760 $1,242,511 1% Berkeley $1,256,029 $1,089,815 15% Albany $1,117,821 $961,170 16% Fremont $1,084,914 $1,057,098 3% Dublin $1,065,454 $977,037 9% Alameda $1,025,018 $1,001,807 2% Hayward $927,857 $773,250 20% Emeryville $861,250 $775,000 11% Page 25 McGuire Real Estate Quarterly Report - 1st Quarter 2017

26 Contra Costa County Single-Family Homes Contra Costa County behaved much like neighboring Alameda County, with stable price gains, slight sales volume growth and rapid sales times. The $718,957 average sale here was up 5 percent year-over-year good enough for the fourth-highest quarter in county history. The 2,017 homes sold was a 7 percent improvement year-over-year, and also the highest Q1 sales volume total since Q This occurred as homes sold in average 29 DOM. All these factors help illustrate one of the healthier and more accessible markets within the entire Bay Area. CONTRA COSTA COUNTY Average Sales Price Days on Market Average Price Per Sq. Ft. Q $718, $351 change 2% -3% 0% Q $705, $349 Q $718, $351 change 5% -6% 7% Q $685, $328 Page 26 McGuire Real Estate Quarterly Report - 1st Quarter 2017

27 Quantity Sold Five Years/Quarter $800 Average Sales Price Five Years/Quarter (in thousands) $700 $600 $500 $400 Sales Price Change Average Sales Price by City Homes were priced in accordance with buyer expectations, - The Top 10 as sellers $ who required no price change netted just 2 percent on top of initial list price, while those who tested the market Although Kensington did not have a huge data pool to draw recovered a healthy 92 percent of their initial ask. from, there was little deviation in average sales prices that accounted for a 32 percent rise (year-over-year) to $1.12 million. Sales without price change with price change Q % -8% Q % -7% Strong price gains were felt in a majority of communities throughout Contra Costa County, as similar trend which Alameda County also experienced. City Q Q change Diablo $3,693,750 $2,319,750 59% Contra Costa County Single-Family Home Sales Price by Square Foot Alamo $1,790,261 $1,888,528-5% Lafayette $1,622,848 $1,586,324 2% Orinda $1,523,767 $1,634,327-7% Moraga $1,381,452 $1,278,575 8% > $1000/sqft < $1000/sqft < $900/sqft < $700/sqft < $500/sqft Danville $1,373,275 $1,252,237 10% San Ramon $1,137,672 $1,087,784 5% Kensington $1,120,198 $850,000 32% Walnut Creek $1,104,289 $1,013,519 9% Point Richmond $1,031,500 $850,000 21% Page 27 McGuire Real Estate Quarterly Report - 1st Quarter 2017

28 SAN FRANCISCO Marina 2001 Lombard Street San Francisco, CA Ph: South Beach 168 South Park Street San Francisco, CA Ph: Noe Valley 100 Clipper Street San Francisco, CA Ph: mcguire.com For nearly 100 years, McGuire Real Estate has been recognized as a premier real estate brokerage throughout the Bay Area. How are we able to consistently live up to such high expectations? We do it through the abilities of our sales people the Bay Area s Best! Live Luxuriously MARIN Mill Valley 1040 Redwood Highway Mill Valley, CA Ph: EAST BAY Elmwood 2991 College Avenue Berkeley, CA Ph: PENINSULA Burlingame 360 Primrose Road Burlingame, CA Ph: WINE COUNTRY Ph: Follow McGuire Real Estate