Q12015 quarterlyreport ezine asian

2015年第一季度

太平洋联合公司为旧金山湾区的购房者与售房者提供优化的手机端体验 4

2015年收入与就业持续增长，首次公开募股（IPO）步伐放缓 6

8

12

16

20

24

32

38

42

46

太平洋联合公司为旧金山湾区的购房者与售房者提供优化的手机端体验

不是手机端的世界还未来到——而是它已经到来。太平洋联合公司全部网站近40%的流量来自于手机或平板电脑。到了周末，这一数据会增加到60%以上。

为了应对这种转变，太平洋联合公司近期上线了彻底改版并与大幅度地提升的公司网站。我们的发展战略是“手机移动端第一”，当地的房产购买者与出售者可以通过新网站了解挂牌上市的房产；专业的、超本地化的街区信息；以及最新的市场动态。

移动化网站具有定位搜索功能，可在一个形象化的旋转木马中展示详细目录。网站还可提供当前大部分市场的动态数据——平均销售价格，平均销售量与索价的比率以及上市天数——超过140个旧金山湾地区的社区尽在您的掌握之中。

我们的全新网站已经上线，可为太平洋联合公司房产专业人员以及他们的客户提供个人移动网站。登陆PacificUnion.com，点击“创建账户”（如左图所示），您可以选择您的个人房地产专业人员。保存好您的房地产搜索参数以后，您可以选择自动接收邮件，了解关于待售的新房产或最新市场动态的更新信息。

太平洋联合公司的全新网站具有良好的“适应性”，无论您是用智能手机、平板电脑，还是电脑，它都可以识别您的设备类型，并优化自身功能使之与设备相匹配。我建议您登陆PacificUnion.com，您可以走访您最喜爱的街区，搜索最新的市场趋势，当然，您还可以详细了解挂牌上市的房产。

http://www.pacunion.com





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

REGION Q1 '05 Q1 '06 Q1 '07 Q1 '08 Q1 '09 Q1 '10 Q1 '11 Q1 '12 Q1 '13 Q1 '14 Q1 '15

CONTRA COSTA COUNTY 2,378 2,082 1,684 1,310 2,892 2,288 2,457 2,553 2,290 1,916 1,925

EAST BAY 512 535 445 338 315 365 469 498 439 430 362

MARIN COUNTY 488 410 427 281 223 349 385 434 431 413 377

NAPA COUNTY 298 245 220 140 244 263 290 313 268 212 254

SAN FRANCISCO (SFH) 541 494 461 221 333 468 501 535 499 467 408

SAN FRANCISCO (CONDOS) 501 484 458 319 216 372 479 485 507 548 467

SILICON VALLEY 607 483 490 329 238 391 410 445 432 393 362

SONOMA COUNTY 1,243 1,037 885 621 1,028 921 978 1,156 979 893 797

SONOMA VALLEY 136 97 81 75 84 88 103 114 104 95 84

LAKE TAHOE/TRUCKEE (SFH) 185 133 147 132 122 167 182 220 223 180 194

LAKE TAHOE/TRUCKEE (CONDOS) 58 59 46 34 18 64 52 50 61 56 56Copyright © Pacific Union. Source: BrokerMetrics / Terradatum, Inc. using data from SFARMLS, EBRD, BAREIS, MLSLSTINGS, TSIERRA, April 6, 2015.

Bay Area: 10-Year Overview of Q1 Homes Sold

http://docs.pacunion.com/2015q1/10year_monsterchart.pdf



2015年收入与就业持续增长，首次公开募股（IPO）步伐放缓

2015年第一季度，旧金山湾区高速增长的经济逐渐放缓，但并未显示出冷却迹象，整个地区的就业与收入仍呈现增长的趋势。另一方面，在经历了繁忙的2014年之后，2015年初当地首次公开募股（IPO）的步伐相对放缓。

约翰•伯恩斯房地产咨询公司（JBREC）的数据显示，2014年，在旧金山湾区有35家企业首次公开募股，筹集资金约50亿美元。去年值得注意的首次公开募股企业包括位于旧金山的借贷俱乐部（Lending Club），自2014年12月在纽约证券交易所上市到2015年2月为止，共筹集资金8.7亿美元。位于圣马特奥县的运动摄影机制造商GoPro首次公开募股情况良好：收益4.27亿美元。

2015年第一季度，旧金山湾区五家企业首次公开募股，其中，科技领域的唯一代表，位于洛斯拉图斯的文件共享服务供应商Box共筹集1.75亿美元。上个季度其他公开发行股票的公司为生物技术或医学公司：旧金山的INVITAE公司（筹集1.02亿美元），雷德伍德城的Avinger公司（筹集6500万美元），费利蒙的Zosana Pharma公司（筹集5000万美元），圣拉蒙的SteadyMed Therapeutics公司（筹集4000万美元）。

旧金山451研究的研究总监布莱恩•戴利察觉到一点萧条的迹象——至少是在科技领域——考虑到去年的情况，今年多少让人感到略微吃惊。他说：“我把这称为出人意料且令人失望地减缓。”

筹资能力为保持私有添加动力

那么，在很多当地知名的科技公司——包括Uber技术公司、Airbnb公司、Dropbox公司以及Pinterest公司——都有望进行首次公开募股申报的时候，发展步伐急速减慢的原因是什么？戴利提出两个可能的理由。

在房地产领域，首次公开募股遵循季节性模式，年初的几个月通常是一段冷淡期。企业不仅希望在上市之前能有一年的稳固收益作为支持，还希望能够在第一季度表现出众。

或许，更重要的是，目前风险投资公司希望将大量的资金投入当地公司。约翰•伯恩斯房地产咨询公司表示，旧金山湾地区的公司去年总计吸收资金234亿美元——是自2000年以来的最高额。投资者对科技公司的兴趣似乎并未减弱；据《纽约时报》表示，今年2月，总部位于旧金山的Uber公司另外筹集了10亿美元的资金，使公司自2009年成立以后的总筹资数额达到约50亿美元。

由于萨班斯-奥克斯利法案等法律的要求，首次公开募股可能需经历一个漫长复杂的过程，戴利认为，许多公司都会尽可能保持私有，因为在后期私人资本是现成的。

他说：“当有人做好准备愿意为你开张大支票的时候，实在没有什么必要去做首次公开募股的麻烦事。”

http://realestateconsulting.com/

https://451research.com/

http://dealbook.nytimes.com/2015/02/18/uber-expands-funding-round-by-1-billion/?_r=1

2015年旧金山湾区就业与收入呈增长之势

即使2015年对旧金山湾区来说不是一个首次公开募股的丰年，但稳定的收入与就业增长仍会保持房地产业的强劲需求。约翰•伯恩斯房地产咨询公司表示，在旧金山湾区的127家上市公司中，与去年同期相比，大约三分之二的公司在三月份实现发展，这表明当地公司会继续进行招聘。

约翰•伯恩斯房地产咨询公司负责人之一皮特•里布表示：“就业增长是房产需求的首要推动力。”

约翰•伯恩斯房地产咨询公司表示，2015年，葡萄酒乡将推动纳帕县当地的就业增长，纳帕县就业将增长4.4%，索诺玛县增长3.2%。圣克拉拉县预计就业增长2.5%；阿拉米达县与康特科斯拉县将总计增长2.4%；马林县、旧金山和圣马特奥县的就业增长总和预计为2.3%。

约翰•伯恩斯房地产咨询公司表示，大部分旧金山湾区的就业水平达到或超过了最高水平，其中最显著的是纳帕县，该地的工资和劳动力总数是此前最高水平，即2008年的104%。圣克拉拉县的趋势相反，该地就业率是其网络时代峰值的96%到97%。

旧金山湾区的工资在2015年有望再创新高，这将有助于当地的房产购买者获得更多的购买力。约翰•伯恩斯房地产咨询公司预计，整个地区2015年的中等家庭收入将由原来的3.8%增长到4.5%——而去年的中等家庭收入由0.3%增长到1.9%。

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

2015年第一季度

mailto:[email protected]

2015年第一季度初期，太平洋联合公司在康特科斯拉县地区的房产销售放缓，但在三月份有显著回升，且市场上的房产数量稳步增加。但是，买家的数量继续高于可供出售的房产数量，这意味着多处房产获得了多方竞价。某些街区的房产售价已高出要价的10%甚至更多。

房产销售速度比最近几个季度有所加快，因此买家需要保持资金有序并果断出手方能完成交易。在这一季度中，平均房价持续上涨，由于借贷机构难以与当前市场价格保持同步，因此在某些时候估价较为困难。

预期：随着卖家意识到2015年会出现价格高点，我们预计未来几个月市场房产储量会有所增加。该地区具有吸引力的房产与名校会继续吸引买家——低利率与旧金山湾区繁荣的经济也会有不小的推动作用。对初次购房的买家而言，市场仍是困难重重，但所有的迹象都显示，房产市场将迎来兴旺繁忙的春夏两季。

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。

$1,036,975 $1,004,000 $1,045,000 $975,000

$1,040,000 $1,060,000 $965,000 $995,000

$1,007,500 $1,000,000 $970,000

$1,010,000 $1,096,600

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000

Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Source: Terradatum, April 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.

1.8 1.7

1.6 1.6

1.5 1.6

1.9 1.7 1.7

1.1

1.8

2.2

1.3

0.1

0.6

1.1

1.6

2.1

2.6

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

Source: Terradatum, April 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.

pacificunion.com

http://docs.pacunion.com/2015q1/contracosta_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/contracosta_chart2_msi.pdf

pacificunion.com

23

18 19

23 21

25 27

29 31 31

40

29

25

0

5

10

15

20

25

30

35

40

45


Source: Terradatum, April 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.

99.9%

101.8% 102.0%

100.2% 100.6%

99.1% 99.3%

98.1% 98.6% 98.3%

97.2%

98.8%

101.0%

94%

95%

96%

97%

98%

99%

100%

101%

102%

103%


Source: Terradatum, April 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.

39.8% 37.9% 38.2% 37.7%

32.9% 31.7% 29.4%

32.4% 32.1% 30.1%

35.1% 37.6%

48.2%

0%

10%

20%

30%

40%

50%

60%


Source: Terradatum, April 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.

pacificunion.com

http://docs.pacunion.com/2015q1/contracosta_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/contracosta_chart5_salesprice_originalprice.pdf

http://docs.pacunion.com/2015q1/contracosta_chart4_percentundercontract.pdf

pacificunion.com

Q1 '14 Q1 '15 % change Q1 '14 Q1 '15 % change Q1 '14 Q1 '15 % change Q1 '14 Q1 '15 % change

Alamo 59,739,900$ 45,328,525$ -24% 42 28 -33% 50 31 -38% 1,346,750$ 1,414,050$ 5%

Blackhawk 20,559,900$ 20,772,900$ 1% 13 13 0% 34 56 65% 1,269,900$ 1,459,900$ 15%

Danville 117,759,879$ 137,453,351$ 17% 107 118 10% 30 27 -10% 1,025,000$ 1,077,500$ 5%

Diablo 6,465,000$ 21,655,000$ 235% 2 10 400% 40 141 253% 3,232,500$ 1,877,500$ -42%

Lafayette 63,544,400$ 69,152,761$ 9% 48 49 2% 39 40 3% 1,225,000$ 1,340,000$ 9%

Moraga 28,784,000$ 32,277,188$ 12% 25 27 8% 19 28 47% 1,135,000$ 1,160,000$ 2%

Orinda 41,753,820$ 66,485,952$ 59% 37 44 19% 28 26 -7% 1,099,000$ 1,351,700$ 23%

PleasantHill 40,207,980$ 37,732,609$ -6% 64 58 -9% 23 33 43% 641,500$ 650,000$ 1%

San Ramon 115,093,112$ 123,448,361$ 7% 120 124 3% 20 19 -5% 874,500$ 980,000$ 12%

Walnut Creek 75,507,731$ 73,728,340$ -2% 83 75 -10% 30 27 -10% 843,750$ 917,000$ 9%

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

Contra Costa County Snapshot: Q1 2015 vs. Q1 2014

Sales Volume Homes Sold Avg. Days on Market Median Price

pacificunion.com

http://docs.pacunion.com/2015q1/contracosta_chart6_sect2_cities.pdf

pacificunion.com

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

2015年第一季度


2015年第一季度初期，太平洋联合公司在东湾地区的房产销售缓慢，但随着这一季度时间的推进，销售速度逐渐加快，异常紧张的房产供应情况也逐渐缓解。同时，该地区的买家数量充足，市场较以往更具竞争力。到三月底，近90%的房产获得多方竞价，焦虑的买家给出远高于要价的价格，以确保能购得房产。在某些街区，售价高于要价的40%。

近几年东湾可供出售的房产储量始终紧张，但自一年以前，第一季度的储量会出现进一步下滑，新挂牌上市的房屋数量难以满足买家需求。那些在步行评级中得分较高并靠近BART站点的社区销路最好。

预期：我们预计第二季度将有大批房产投入市场，我们也报告指出，房产领域的老手在三月份的最后几周内相当繁忙，这似乎证实了这种乐观的态势。未来几个月东湾将会出现数量充足的买家。

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。

$758,500 $813,500 $817,000 $842,500

$790,000 $834,000

$775,000 $835,000 $826,500 $822,500

$792,500 $849,000

$900,500

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000


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

1.4 1.3

1.2 1.2

1.0 1.1

1.6

1.1

0.9

0.7

1.7

2.0

1.0

0.1

0.3

0.5

0.7

0.9

1.1

1.3

1.5

1.7

1.9

2.1


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

pacificunion.com

http://docs.pacunion.com/2015q1/eastbay_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/eastbay_chart2_msi.pdf

pacificunion.com

25

20 22 21 20

23 23 21 20

27

37

23

19

0

5

10

15

20

25

30

35

40


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

109.4%

113.2% 111.8%

109.2% 110.3%

109.3% 107.7%

111.6% 111.9%

109.2%

104.2%

111.0%

116.2%

98%

100%

102%

104%

106%

108%

110%

112%

114%

116%

118%


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

43.1% 43.4% 45.7% 43.8% 45.9%

39.7% 36.1%

45.3% 44.9%

35.7% 33.3%

46.1%

55.4%

0%

10%

20%

30%

40%

50%

60%


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

pacificunion.com

http://docs.pacunion.com/2015q1/eastbay_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/eastbay_chart5_salesprice_originalprice.pdf

http://docs.pacunion.com/2015q1/eastbay_chart4_percentundercontract.pdf

pacificunion.com


Alameda 51,794,728$ 42,999,500$ -17% 64 46 -28% 21 18 -14% 760,750$ 864,000$ 14%

Albany 8,430,800$ 7,170,000$ -15% 12 9 -25% 30 11 -63% 748,750$ 800,000$ 7%

Berkeley 81,126,591$ 82,636,400$ 2% 89 78 -12% 19 25 32% 785,000$ 952,500$ 21%

El Cerrito 22,390,750$ 15,404,000$ -31% 35 22 -37% 24 22 -8% 600,000$ 706,000$ 18%

Kensington 8,268,000$ 10,124,500$ 22% 9 11 22% 19 17 -11% 810,000$ 860,000$ 6%

Oakland* 148,275,268$ 156,592,213$ 6% 203 178 -12% 33 26 -21% 638,000$ 804,050$ 26%

Piedmont 40,747,111$ 39,154,005$ -4% 18 18 0% 57 34 -40% 1,642,500$ 2,001,003$ 22%

East Bay Snapshot: Q1 2015 vs. Q1 2014

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



Under $500,000 31,646,342$ 11,850,780$ -63% 83 31 -63% 38 47 24% 385,000$ 390,000$ 1%

Over $500,000 329,386,906$ 342,229,838$ 4% 347 331 -5% 26 22 -15% 798,000$ 895,000$ 12%

$500,000 - $1 million 192,593,907$ 160,631,601$ -17% 264 211 -20% 25 21 -16% 735,000$ 765,000$ 4%

Over $1 million 136,792,999$ 181,598,237$ 33% 83 120 45% 27 24 -11% 1,325,000$ 1,300,000$ -2%

Source: Terradatum, April 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: Q1 2015 vs. Q1 2014


Q1 '14 Q1 '15 % change Q1 '14 Q1 '15 % change

Montclair / Joaquin Miller 46 39 -15% $865,527 $993,403 15%

Crocker Highlands / Grand Lake 27 20 -26% $871,099 $975,663 12%

Rockridge / Claremont 19 22 16% $1,177,352 $1,397,026 19%

Glenview / Oakmore 15 14 -7% $799,092 $901,203 13%

Laurel / Dimond 15 13 -13% $462,861 $593,423 28%

Redwood Heights / Lincoln Heights 15 15 0% $633,893 $754,033 19%

Crestmont / Ridgemont / Skyline 6 5 -17% $905,833 $1,188,600 31%

Temescal / Piedmont Ave. 4 9 125% $807,974 $913,556 13%

Oakland Snapshot: Q1 2015 vs. Q1 2014

NeighborhoodHomes Sold Average Price

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

pacificunion.com

http://docs.pacunion.com/2015q1/eastbay_chart6_sect2_cities.pdf

http://docs.pacunion.com/2015q1/eastbay_chart7_sect2_prices.pdf

http://docs.pacunion.com/2015q1/eastbay_chart8_sect2_oaklandprices.pdf

pacificunion.com

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

2015年第一季度


2015年第一季度太平洋联合公司在马林县的房产存量稳步扩大，但额外供应的房产销售迅速——这显示了整个地区被压抑的买方需求。整个季度房价持续升高，几乎所有定价合理且位于较理想社区的房产都获得了多方竞价。买家为尽快成交而交纳全额现金并放弃附带条件的情况也屡见不鲜。

米尔山谷市场尤为火爆，但销售势头在整个地区的所有价格范围内非常强劲——尤其是高端房产的销售。本季度还有大量私人采购协议在房产还未投入当地上市房地产综合信息服务网（MLS）且未有竞争投标之前就已达成。这样的市场外交易可以简化销售流程，但不能保证最高的可能售价。

预期：春季是房产市场典型的繁忙季节，随着当地经济迅猛发展，且利率始终徘徊在历史低点，马林县未来几个月内的房产交易有望达到超常水平。卖家可能意识到现在是将房产投入市场的最佳时机，而买家将会继续观望。

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。

$1,001,500 $1,030,000 $1,100,000

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

$952,500

$1,175,000

$991,000 $1,100,000

$1,008,000 $990,000 $980,000

$1,137,500

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000


Source: Terradatum, April 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.

1.8 1.8

1.5 1.5

1.8 1.9

2.6

1.9 1.9 1.7

2.5

2.2

1.4

0.1

0.6

1.1

1.6

2.1

2.6

3.1


Source: Terradatum, April 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.

pacificunion.com

http://docs.pacunion.com/2015q1/marin_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/marin_chart2_msi.pdf

pacificunion.com

56

45

53

46

53 50 52

55 60

74

62 56

45

0

10

20

30

40

50

60

70

80


Source: Terradatum, April 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.

39.9%

33.9%

38.0% 35.1%

30.1% 27.9% 29.4% 30.7%

25.7% 22.1%

31.0%

36.7%

46.1%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%


Source: Terradatum, April 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.

95.8%

100.7%

99.3% 98.2%

97.4% 97.0% 97.5% 98.0%

95.7%

93.7%

98.1% 99.3%

101.0%

88%

90%

92%

94%

96%

98%

100%

102%


Source: Terradatum, April 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.

pacificunion.com

http://docs.pacunion.com/2015q1/marin_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/marin_chart4_percentundercontract.pdf

http://docs.pacunion.com/2015q1/marin_chart5_salesprice_originalprice.pdf

pacificunion.com


Belvedere 53,517,000$ 33,111,500$ -38% 14 8 -43% 125 84 -33% 3,030,000$ 3,225,000$ 6%

Corte Madera 13,902,950$ 24,509,000$ 76% 12 20 67% 65 32 -51% 1,136,500$ 1,055,000$ -7%

Fairfax 12,844,750$ 3,867,500$ -70% 15 5 -67% 83 19 -77% 770,000$ 750,000$ -3%

Greenbrae 14,487,000$ 10,221,000$ -29% 10 6 -40% 71 26 -63% 1,296,000$ 1,682,000$ 30%

Kentfield 22,040,000$ 37,864,450$ 72% 9 16 78% 31 42 35% 1,675,000$ 2,065,975$ 23%

Larkspur 24,867,578$ 9,387,000$ -62% 13 6 -54% 54 47 -13% 1,615,000$ 1,213,500$ -25%

Mill Valley 100,620,553$ 97,216,515$ -3% 59 56 -5% 49 51 4% 1,380,000$ 1,422,500$ 3%

Novato 74,879,110$ 85,859,318$ 15% 101 94 -7% 63 64 2% 702,800$ 849,500$ 21%

Ross 12,505,000$ 19,775,000$ 58% 6 4 -33% 41 45 10% 2,297,500$ 4,862,500$ 112%

San Anselmo 34,376,300$ 24,630,500$ -28% 29 21 -28% 70 37 -47% 900,000$ 900,000$ 0%

San Rafael 77,794,952$ 84,194,006$ 8% 85 87 2% 68 52 -24% 839,000$ 840,000$ 0%

Sausalito 29,873,734$ 15,375,000$ -49% 15 9 -40% 87 47 -46% 1,425,000$ 1,500,000$ 5%

Tiburon 74,169,130$ 51,739,815$ -30% 25 19 -24% 106 56 -47% 2,870,000$ 2,700,000$ -6%

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

Marin County Snapshot: Q1 2015 vs. Q1 2014


pacificunion.com

http://docs.pacunion.com/2015q1/marin_chart6_sect2_cities.pdf

pacificunion.com

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

2015年第一季度


经过冷淡的一月和二月之后，纳帕县的房地产活动在三月恢复生机，买家数量在春季开始增加。卖家也参与到这场盛宴之中，这使第一季度可供出售的房产供应量较以往更加充足。

买家为位于理想区域且定价合理的房产积极出价，但他们似乎比过去几个季度更加谨慎——例如他们并不急于签署销售合同。虽然卖家比过去几年有所增加，但他们同样态度谨慎；本地区大约三分之一的房产销售依卖家寻找新居的情况而定。

预期：纳帕县的多数卖家会等到春暖花开自己的房产外观最佳时将其投向市场，几乎可以预见，市场将迎来一个活跃的春夏之季。我们预计，酒庄和葡萄庄园等高端房产在经历了几年相对低迷的状态之后，有望在今年第三季度迎来强劲的需求。

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。

$563,250

$510,022

$575,000 $527,000

$592,000

$510,000

$602,500

$535,000

$610,000

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

$554,750

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000


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

4.9

3.6 3.7 3.4

3.8

5.4

4.3 4.1 4.4

3.3 3.7

3.2

2.4

0.1

1.1

2.1

3.1

4.1

5.1

6.1


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

pacificunion.com

http://docs.pacunion.com/2015q1/napa_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/napa_chart2_msi.pdf

pacificunion.com

100

65 71

77 81 71

90 87 81

99 100

114

89

0

20

40

60

80

100

120


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

24.4%

19.1%

22.9%

19.1%

15.8% 16.1% 16.3%

17.3% 18.3% 16.5%

24.1%

28.0%

33.3%

0%

5%

10%

15%

20%

25%

30%

35%


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

93.7%

96.4% 95.4% 95.8%

88.6%

93.5% 93.4% 92.5%

95.1%

91.2% 91.2% 92.0%

94.6%

84%

86%

88%

90%

92%

94%

96%

98%


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

pacificunion.com

http://docs.pacunion.com/2015q1/napa_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/napa_chart4_percentundercontract.pdf

http://docs.pacunion.com/2015q1/napa_chart5_salesprice_originalprice.pdf

pacificunion.com


American Canyon 11,672,000$ 14,303,713$ 23% 30 36 20% 59 83 41% 392,500$ 383,500$ -2%

Angwin 5,164,000$ 919,000$ -82% 8 2 -75% 127 196 54% 526,500$ 459,500$ -13%

Calistoga 16,719,400$ 13,607,300$ -19% 14 12 -14% 172 170 -1% 692,500$ 648,000$ -6%

Napa 82,860,421$ 120,876,430$ 46% 135 176 30% 102 85 -17% 515,000$ 523,150$ 2%

St. Helena 30,061,500$ 19,224,500$ -36% 18 15 -17% 182 183 1% 1,055,000$ 801,000$ -24%

Yountville 3,712,250$ 11,776,421$ 217% 5 6 20% 129 184 43% 729,500$ 1,287,518$ 76%

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

Napa County Snapshot: Q1 2015 vs. Q1 2014



Under $500,000 38,918,551$ 44,028,699$ 13% 103 118 15% 81 79 -2% 399,000$ 384,768$ -4%

$500,000 - $999,999 54,637,170$ 65,563,999$ 20% 80 99 24% 122 92 -25% 639,500$ 629,000$ -2%

$1 million - $3 million 36,302,350$ 49,557,921$ 37% 24 30 25% 163 189 16% 1,335,000$ 1,607,500$ 20%

Over $3 million 22,145,000$ 31,456,295$ 42% 5 7 40% 357 176 -51% 4,800,000$ 3,380,750$ -30%

Median Price

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

Napa County Price Range Snapshot: Q1 2015 vs. Q1 2014

Sales Volume Homes Sold Avg. Days on Market

pacificunion.com

http://docs.pacunion.com/2015q1/napa_chart6_sect2_cities.pdf

http://docs.pacunion.com/2015q1/napa_chart7_sect2_prices.pdf

pacificunion.com

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

2015年第一季度


2015年第一季度，旧金山的房地产市场仍然面临储量短缺的困扰。所有价位的房产供应均有不足，尤其是公寓类房产，具有吸引力的、定价合理的房产在投入市场后几乎不到一周的时间里就签下合同出售。本季度房价稳定攀升，大部分房产获得多方竞价，有意购房者络绎不绝。

同时卖家面临两难困境：将其房产投入市场，虽然可以保证较高的售价，但会使他们处于与买家一样的处境——仓促寻找下一处住所。对旧金山的多数卖家而言，解决这一问题的办法就是与买家协商租金滞纳协议，使在他们有额外的时间寻找新房产。

预期：通常情况下，第二季度的房产销售势头强劲，但今年还有附加因素：当地经济繁荣且利率始终徘徊在历史最低点，这会导致房地产销售超负荷。所有的迹象都表明，旧金山房地产市场将迎来繁忙的春夏两季。

$985,000

$1,100,000 $1,090,500 $1,175,000

$1,082,000

$971,500 $1,040,000

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

$1,075,000 $980,000

$1,124,000

$1,250,000

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000

$1,500,000


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

$977,000 $920,000

$970,000 $1,050,000

$957,500 $980,000 $950,000

$1,004,000 $1,025,000 $965,012

$882,500

$1,100,000 $1,140,000

$100,000

$300,000

$500,000

$700,000

$900,000

$1,100,000

$1,300,000


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

pacificunion.com

http://docs.pacunion.com/2015q1/sanfran_chart1_mediansalesprice_sfh.pdf

http://docs.pacunion.com/2015q1/sanfran_chart2_mediansalesprice_condos.pdf

pacificunion.com

1.5 1.4 1.4

1.9

1.6 1.7

2.1

1.3 1.3

0.8

2.1 2.1

1.3

0.1

0.6

1.1

1.6

2.1

2.6


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

32 35

26 27 30 29

27 31 31

39

46

30 27

0

5

10

15

20

25

30

35

40

45

50


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

1.3 1.2

1.4 1.6

1.7

1.4

1.8

1.3 1.4

1.0

2.1 1.9

1.0

0.1

0.6

1.1

1.6

2.1

2.6


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

pacificunion.com

http://docs.pacunion.com/2015q1/sanfran_chart3_msi_sfh.pdf

http://docs.pacunion.com/2015q1/sanfran_chart5_avgdom_sfh.pdf

http://docs.pacunion.com/2015q1/sanfran_chart4_msi_condos.pdf

pacificunion.com

30 30 28

35 33 33

39 37 36

51 54

29 31

0

10

20

30

40

50

60


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

46.0% 41.0%

40.0% 37.6%

33.1%

37.3% 36.5% 35.6%

39.6%

31.9% 32.6%

41.4%

46.0%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%


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

41.9% 40.3% 36.3% 35.8%

35.1% 32.7% 35.0%

39.2% 39.8%

34.3% 31.0%

33.3%

44.6%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%


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

pacificunion.com

http://docs.pacunion.com/2015q1/sanfran_chart6_avgdom_condos.pdf

http://docs.pacunion.com/2015q1/sanfran_chart8_percentundercontract_condos.pdf

http://docs.pacunion.com/2015q1/sanfran_chart7_percentundercontract_sfh.pdf

pacificunion.com

109.3% 109.8%

113.4%

110.3% 109.7%

109.0% 109.8% 109.7%

107.2%

105.3% 104.8%

111.3%

109.3%

100%

102%

104%

106%

108%

110%

112%

114%

116%


Source: Terradatum, April 6, 2014. Sales price as % of original price (including adjustments) for single-family homes under contract in San Francisco.

108.2% 106.9%

107.9%

106.7% 107.6%

105.2%

103.9%

105.9% 105.6%

101.4%

103.3%

106.7%

108.3%

96%

98%

100%

102%

104%

106%

108%

110%


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

pacificunion.com

http://docs.pacunion.com/2015q1/sanfran_chart9_salesprice_originalprice_sfh.pdf

http://docs.pacunion.com/2015q1/sanfran_chart10_salesprice_originalprice_condos.pdf

pacificunion.com

pacificunion.com

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.

pacificunion.com


District 1 56,428,800$ 66,338,150$ 18% 36 34 -6% 40 22 -45% 1,238,000$ 1,722,500$ 39%

District 2 74,582,322$ 73,214,785$ -2% 81 66 -19% 39 29 -26% 920,000$ 1,100,000$ 20%

District 3 29,807,300$ 19,828,204$ -33% 38 22 -42% 43 42 -2% 700,250$ 844,500$ 21%

District 4 81,183,300$ 72,569,388$ -11% 63 51 -19% 33 46 39% 1,150,000$ 1,228,000$ 7%

District 5 158,302,282$ 149,962,331$ -5% 70 62 -11% 27 26 -4% 2,175,000$ 2,100,000$ -3%

District 6 26,704,620$ 6,007,000$ -78% 13 4 -69% 49 52 6% 1,900,000$ 1,507,500$ -21%

District 7 84,807,000$ 103,391,500$ 22% 18 19 6% 25 25 0% 4,362,500$ 5,200,000$ 19%

District 8 21,725,000$ 5,810,000$ -73% 6 3 -50% 9 27 200% 3,600,000$ 2,100,000$ -42%

District 9 47,638,888$ 85,708,725$ 80% 39 58 49% 35 25 -29% 1,240,000$ 1,400,000$ 13%

District 10 65,197,683$ 66,433,979$ 2% 103 89 -14% 43 43 0% 635,000$ 725,000$ 14%

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

San Francisco Snapshot: SFH, Q1 2015 vs. Q1 2014



District 1 22,855,850$ 19,734,500$ -14% 21 16 -24% 43 29 -33% 1,120,000$ 1,165,000$ 4%

District 2 1,180,000$ 7,245,000$ 514% 1 8 700% 1 47 4600% 1,180,000$ 782,500$ -34%

District 3 3,309,000$ 3,615,880$ 9% 7 7 0% 56 28 -50% 410,000$ 495,000$ 21%

District 4 9,359,000$ 5,571,000$ -40% 15 9 -40% 30 24 -20% 600,000$ 600,000$ 0%

District 5 106,226,578$ 89,953,119$ -15% 94 72 -23% 26 29 12% 1,132,500$ 1,154,444$ 2%

District 6 46,518,152$ 54,951,256$ 18% 52 52 0% 44 34 -23% 880,283$ 944,500$ 7%

District 7 70,215,243$ 94,504,401$ 35% 46 57 24% 34 23 -32% 1,285,000$ 1,600,000$ 25%

District 8 110,700,404$ 84,014,862$ -24% 111 62 -44% 47 47 0% 850,888$ 1,045,900$ 23%

District 9 193,941,627$ 208,140,175$ 7% 190 175 -8% 34 40 18% 957,500$ 1,050,000$ 10%

District 10 4,579,381$ 6,202,250$ 35% 11 9 -18% 89 43 -52% 442,000$ 721,000$ 63%

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

San Francisco Snapshot: Condos, Q1 2015 vs. Q1 2014


pacificunion.com

http://docs.pacunion.com/2015q1/sanfran_chart11_sect2_districts_sfh.pdf

http://docs.pacunion.com/2015q1/sanfran_chart12_sect2_districts_condos.pdf

pacificunion.com


Under $1 million 178,005,473$ 124,454,757$ -30% 244 161 -34% 46 43 -7% 716,500$ 775,000$ 8%

$1 million - $3 million 290,566,440$ 339,460,305$ 17% 182 210 15% 27 27 0% 1,422,500$ 1,475,000$ 4%

Over $3 million 177,805,282$ 185,349,000$ 4% 41 37 -10% 24 27 13% 3,775,000$ 4,611,000$ 22%

San Francisco Price Range Snapshot: SFH, Q1 2015 vs. Q1 2014

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



Under $1 million 207,493,622$ 148,458,493$ -28% 298 205 -31% 42 41 -2% 713,000$ 731,000$ 3%

$1 million - $2 million 305,418,095$ 288,994,804$ -5% 231 211 -9% 33 31 -6% 1,280,000$ 1,315,000$ 3%

Over $2 million 55,973,518$ 136,479,146$ 144% 19 51 168% 30 36 20% 2,610,000$ 2,480,000$ -5%

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

San Francisco Price Range Snapshot: Condos, Q1 2015 vs. Q1 2014


pacificunion.com

http://docs.pacunion.com/2015q1/sanfran_chart13_sect2_prices_sfh.pdf

http://docs.pacunion.com/2015q1/sanfran_chart14_sect2_prices_condos.pdf

pacificunion.com

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

2015年第一季度


一月份，太平洋联合公司在硅谷的房地产市场异常冷淡，二月份略有好转。三月份市场繁忙起来，可供销售的房产储量稳步增加，买家逐渐从冬眠中活跃起来。第一季度该地区最富裕的社区销售火爆。销售情况最好的房产为价格在200万到300万美元的房产，其次是价格在300万到500万美元的房产，最后是售价在500万美元以上的房产。

硅谷地区的一个显著趋势是买家与卖家之间签订的私人购买协议数量增加，无需将房产在上市房地产综合信息服务网(MLS)进行挂牌或进行竞争出价。2014年第二季度，这些协议占硅谷房产销售额的21%，此后这一比例持续上升，到2015年第一季度已达到35%。尽管这种市场外的交易可以简化销售流程，但它通常无法得到最高的可能售价。

预期：硅谷的房地产市场将在整个春季蓬勃发展，有吸引力的社区、一流的学校以及数量繁多的公园将继续吸引房产购买者。我们预计房价将持续上涨，且随着时间的推进，房产储量也会大幅度回升。

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。

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。

$2,600,000 $2,466,000 $2,420,000

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

$2,566,000 $2,450,000

$2,500,000 $2,399,100

$2,880,000 $2,850,000 $2,800,000

$100,000

$600,000

$1,100,000

$1,600,000

$2,100,000

$2,600,000

$3,100,000

Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Source: Terradatum, April 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.

1.8 1.8 1.7

1.5 1.6 1.6

2.2

1.2 1.3

1.2

2.2

1.8

1.3

0.1

0.6

1.1

1.6

2.1

2.6

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


pacificunion.com

http://docs.pacunion.com/2015q1/siliconvalley_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/siliconvalley_chart2_msi.pdf

pacificunion.com

24

20 19

23

27

37

31

25 27

37 40

25 25

0

5

10

15

20

25

30

35

40

45

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


102.9%

106.4%

104.7%

103.8%

102.2%

101.0% 101.8%

105.5%

103.3%

99.1% 99.6%

106.0% 106.3%

94%

96%

98%

100%

102%

104%

106%

108%

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


39.0%

33.7%

39.6%

34.1%

30.6% 33.4% 34.2%

39.9%

30.8%

26.0%

31.5%

39.4%

46.8%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

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


pacificunion.com

http://docs.pacunion.com/2015q1/siliconvalley_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/siliconvalley_chart5_salesprice_originalprice.pdf

http://docs.pacunion.com/2015q1/siliconvalley_chart4_percentundercontract.pdf

pacificunion.com


Atherton 155,098,000$ 87,730,000$ -43% 25 11 -56% 81 72 -11% 5,000,000$ 7,000,000$ 40%

Los Altos* 126,754,638$ 184,006,000$ 45% 48 59 23% 17 15 -12% 2,412,500$ 2,800,000$ 16%

Los Altos Hills 69,927,000$ 116,612,500$ 67% 17 23 35% 50 37 -26% 3,140,000$ 3,600,000$ 15%

Menlo Park** 106,228,795$ 118,527,000$ 12% 50 46 -8% 20 19 -5% 1,760,000$ 2,562,500$ 46%

Palo Alto 139,822,722$ 187,638,200$ 34% 53 59 11% 15 21 40% 2,410,000$ 2,600,000$ 8%

Portola Valley 49,901,500$ 24,866,000$ -50% 18 8 -56% 29 37 28% 2,485,000$ 2,580,500$ 4%

Woodside 66,396,823$ 47,662,000$ -28% 21 15 -29% 73 83 14% 2,400,000$ 2,850,000$ 19%

Source: Terradatum, April 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: Q1 2015 vs. Q1 2014


pacificunion.com

http://docs.pacunion.com/2015q1/siliconvalley_chart6_sect2_cities.pdf

pacificunion.com

$1,300,500 $1,434,000

$1,500,000 $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

$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

Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Source: Terradatum, April 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).

25

19

33

16

33

26 28

30

25 28

47

32

22

0

5

10

15

20

25

30

35

40

45

50

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


1.7

1.3 1.3 1.4 1.5

1.2 1.4

1.0

1.3

0.7

2.2

1.9

0.8

0.1

0.6

1.1

1.6

2.1

2.6

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


pacificunion.com

http://docs.pacunion.com/2015q1/midpen_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/midpen_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/midpen_chart2_msi.pdf

pacificunion.com

45.5% 42.3%

39.0%

31.7%

42.1% 39.0% 39.0%

44.9% 42.0%

26.3%

32.7%

43.3%

56.5%

0%

10%

20%

30%

40%

50%

60%

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



Burlingame* 51,901,300$ 61,545,055$ 19% 30 34 13% 22 27 23% 1,544,000$ 1,735,000$ 12%

Hillsborough 118,767,527$ 105,139,000$ -11% 35 24 -31% 79 72 -9% 2,930,000$ 4,067,500$ 39%

San Mateo** 107,342,847$ 117,710,850$ 10% 96 83 -14% 21 18 -14% 985,000$ 1,300,000$ 32%

Source: Terradatum, April 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: Q1 2015 vs. Q1 2014


103.2% 103.6% 102.5%

103.9%

101.2% 101.4%

99.8% 101.1% 100.7% 101.2%

97.5%

102.7%

107.6%

92%

94%

96%

98%

100%

102%

104%

106%

108%

110%

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


pacificunion.com

http://docs.pacunion.com/2015q1/midpen_chart4_percentundercontract.pdf

http://docs.pacunion.com/2015q1/midpen_chart6_sect2_cities.pdf

http://docs.pacunion.com/2015q1/midpen_chart5_salesprice_originalprice.pdf

pacificunion.com

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

2015年第一季度


“所有的卖家都去哪儿了？”这可能是2015年第一季度太平洋联合公司在索诺玛县最常问的问题。房产供应异常紧张，挫伤了买家希望在淡季交易的积极性。幸而二月中旬房产储量的紧张态势有所缓解，到三月份情况愈加好转。同时买家需求仍然异常旺盛。房产一投入市场就被迅速签订协议由第三方保管。

同时，这一季度的房价持续攀升，这不仅表明房产逐渐升值，也反映出市场上房产的性质。一年以前，丧失抵押品赎回权与短售房屋在该地区房产销售中占据较大比例，但到2015年初，这类房产几乎全部售完，市场开始出售高价位房产。

预期：我们预计索诺玛县的房地产市场将迎来一个热闹的春季。第二季度索诺玛县房产供应的限制性条件仍然存在，但那些将房产以合理定价投向市场的卖家将有可能获得多方竞价并迅速售出其房产。

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。

$491,500 $468,950 $487,500 $495,000 $507,000

$475,000 $496,000 $490,000 $482,000

$515,000 $479,000 $489,500

$511,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000


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

2.1

2.4 2.2

2.2 2.1

2.4 2.2

2.3

2.0

1.5

2.4 2.4

2.0

0.1

0.6

1.1

1.6

2.1

2.6


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

pacificunion.com

http://docs.pacunion.com/2015q1/sonomacounty_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/sonomacounty_chart2_msi.pdf

pacificunion.com

73 74

59 57 62 61

67 68 73

80

89 89

66

0

10

20

30

40

50

60

70

80

90

100


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

96.0%

96.8%

98.9% 98.4%

96.9% 97.6%

96.6% 96.5%

95.5%

93.8%

95.0% 95.3%

98.5%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%


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

31.6% 31.6% 31.3% 29.9% 29.0% 27.9% 26.4%

29.3% 29.0%

24.5%

31.3% 33.1%

41.6%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%


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

pacificunion.com

http://docs.pacunion.com/2015q1/sonomacounty_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/sonomacounty_chart5_salesprice_originalprice.pdf

http://docs.pacunion.com/2015q1/sonomacounty_chart4_percentundercontract.pdf

pacificunion.com


Healdsburg 31,736,650$ 36,801,310$ 16% 37 32 -14% 87 84 -3% 730,000$ 857,500$ 17%

Petaluma 63,001,413$ 60,522,940$ -4% 108 103 -5% 60 63 5% 535,000$ 520,000$ -3%

Rohnert Park 18,912,657$ 18,646,100$ -1% 46 42 -9% 63 56 -11% 411,350$ 437,000$ 6%

Santa Rosa 201,069,864$ 191,222,678$ -5% 372 347 -7% 70 74 6% 425,000$ 465,700$ 10%

Sebastopol 33,661,450$ 21,243,777$ -37% 48 28 -42% 82 91 11% 626,500$ 670,000$ 7%

Windsor 31,890,985$ 24,072,644$ -25% 62 44 -29% 69 64 -7% 461,000$ 501,563$ 9%

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

Sonoma County Snapshot: Q1 2015 vs. Q1 2014



Under $1 million 399,987,032$ 370,104,841$ -7% 814 730 -10% 70 74 6% 449,325$ 476,000$ 6%

$1 million and over 145,386,925$ 109,141,125$ -25% 79 67 -15% 125 141 13% 1,450,000$ 1,425,000$ -2%

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

Sonoma County Price Range Snapshot: Q1 2015 vs. Q1 2014


pacificunion.com

http://docs.pacunion.com/2015q1/sonomacounty_chart6_sect2_cities.pdf

http://docs.pacunion.com/2015q1/sonomacounty_chart7_sect2_prices.pdf

pacificunion.com

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

2015年第一季度


2015年第一季度，太平洋联合公司在索诺玛谷的房地产市场遵循了一种典型模式：一月二月进展缓慢，因为卖家都在等待春暖花开时节以展现自己房产的最佳外观，继而迎来繁忙的三月。实际上，三月份投入市场的房产数量高于一二月的总和。定价合理的房产具有较高的吸引力，受到多方竞价，但是与一年前一样，买家并未仓促交易。房产在市场上滞售的时间比过去更长，某些房产仅在降价后才得以出售。

售价低于60万美元的房产销售迅速。售价在100万到200万美元之间的房产也会吸引众多买家，但售价在200万到300万美元的房产销售迟缓。本季度几处面向55岁以上居民的社区房产销售活跃，房价大幅抬升。

预期：从所有的迹象来看，索诺玛谷的春季售卖季会非常繁忙——将成为自2006年以来最繁忙的一季。卖家将找到大量买家，而买家也将发现他们在交易中比以往几年拥有更大的余地。

界定：我们在索诺玛山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、托管公寓以及农场和牧场。

$500,000

$645,000

$540,000 $555,000

$697,500

$525,000

$580,250 $606,250

$750,000

$589,500 $545,000 $540,000 $559,000

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000


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

3.4

3.0

2.4

3.3

2.2

3.0 2.8

2.1 2.3

1.6

3.4 3.2

2.9

0.1

0.6

1.1

1.6

2.1

2.6

3.1

3.6


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

pacificunion.com

http://docs.pacunion.com/2015q1/sonomavalley_chart1_mediansalesprice.pdf

http://docs.pacunion.com/2015q1/sonomavalley_chart2_msi.pdf

pacificunion.com

105

78

50

61

77

56

96

83 77

82 89

76

62

0

20

40

60

80

100

120


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

92.5%

96.8%

99.5%

96.7%

95.1%

97.5%

92.5% 93.5% 93.5%

94.7% 95.2%

96.3% 96.7%

88%

90%

92%

94%

96%

98%

100%

102%


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

28.1% 30.0%

22.6%

26.9%

21.9% 25.1%

26.6%

30.6%

27.4%

17.0%

23.7%

30.5%

34.9%

0%

5%

10%

15%

20%

25%

30%

35%

40%


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

pacificunion.com

http://docs.pacunion.com/2015q1/sonomavalley_chart3_avgdom.pdf

http://docs.pacunion.com/2015q1/sonomavalley_chart5_salesprice_originalprice.pdf

http://docs.pacunion.com/2015q1/sonomavalley_chart4_percentundercontract.pdf

pacificunion.com


Glen Ellen 9,673,000$ 4,235,125$ -56% 8 6 -25% 154 91 -41% 777,500$ 566,000$ -27%

Kenwood 1,375,000$ 2,108,500$ 53% 3 3 0% 32 92 188% 455,000$ 430,000$ -5%

Sonoma 71,068,255$ 56,247,765$ -21% 84 74 -12% 83 72 -13% 575,000$ 554,500$ -4%

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

Sonoma Valley Snapshot: Q1 2015 vs. Q1 2014


pacificunion.com

http://docs.pacunion.com/2015q1/sonomavalley_chart6_sect2_cities.pdf

pacificunion.com

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

2015年第一季度


在太浩湖/特拉基一流的冬季度假村呆上几天以后，房产购买者会爱上这一地区。但随着积雪消融，滑雪者减少，房产市场也冷却下来。简而言之，这就是2015年第一季度的情况。但大地积雪消融也有一定的正面作用：买家不必等到春季就可看到房产的全貌，多数卖家也可灵活定价，以期完成交易。

这一季度，位于受欢迎的街区且定价合理的房产销路最好，售价低于100万美元的房产销量最高。可供销售的房产与公寓的存量仍然充足，买家有较大的选择空间。

预期：加利福尼亚州的干旱情况具有周期性，且降雪还会回到内华达山脉。在此期间，太浩湖/特拉基地区可在春夏两季为旧金山湾区的居民提供无与伦比的室外活动。该地区为寻找度假屋的买家提供充足的房产供应，同时还有接纳力较强的卖家。总之，我们预计这一地区的房地产市场将迎来繁忙的春夏之季。预计最近公布的建设连接斯阔谷与阿尔派梅多斯度假村的贡多拉计划将受到居民以及冬季旅行者的欢迎。

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。

$610,000

$530,000

$629,000

$529,277

$595,000

$665,000

$589,000 $607,342

$740,000

$572,000

$687,000

$611,250 $650,000

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000


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

$290,000

$334,000

$387,500

$350,000

$445,000

$345,000

$385,000

$416,000 $392,500

$370,250

$290,000

$359,500 $362,500

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000


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

pacificunion.com

http://docs.pacunion.com/2015q1/tahoetruckee_chart1_mediansalesprice_sfh.pdf

http://docs.pacunion.com/2015q1/tahoetruckee_chart2_mediansalesprice_condos.pdf

pacificunion.com

7.5 7.0

5.8

8.7

10.9

7.4 7.1

5.9 4.9

4.4

6.2

7.5

5.6

0.1

2.1

4.1

6.1

8.1

10.1

12.1


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

140

101 95

72 66 54

89 88

127 118

102

143

188

0

20

40

60

80

100

120

140

160

180

200


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

11.4

8.9 7.8

10.6

8.6

6.9 6.5 6.2 6.1

9.8

14.2

10.9

8.9

0.1

2.1

4.1

6.1

8.1

10.1

12.1

14.1

16.1


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

pacificunion.com

http://docs.pacunion.com/2015q1/tahoetruckee_chart3_msi_sfh.pdf

http://docs.pacunion.com/2015q1/tahoetruckee_chart5_avgdom_sfh.pdf

http://docs.pacunion.com/2015q1/tahoetruckee_chart4_msi_condos.pdf

pacificunion.com

137

54

114

83

127

53

197

154

101 120 122

138

112

0

50

100

150

200

250


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

10.5% 8.9% 8.2%

9.6%

13.7% 11.9%

9.1%

14.6%

4.7%

9.4%

11.8%

7.1% 7.4%

0%

2%

4%

6%

8%

10%

12%

14%

16%


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

17.2%

14.9%

9.0% 8.5%

11.0% 12.4% 12.4%

13.8% 13.0%

10.5%

12.7% 13.4% 13.4%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%


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

pacificunion.com

http://docs.pacunion.com/2015q1/tahoetruckee_chart6_avgdom_condos.pdf

http://docs.pacunion.com/2015q1/tahoetruckee_chart8_percentundercontract_condos.pdf

http://docs.pacunion.com/2015q1/tahoetruckee_chart7_percentundercontract_sfh.pdf

pacificunion.com

89.2%

95.4% 94.1%

95.6% 96.2%

95.2%

93.3%

91.9%

89.8% 90.9%

87.9% 88.2%

94.9%

82%

84%

86%

88%

90%

92%

94%

96%

98%


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

89.5%

94.6% 94.8%

96.7%

94.1%

96.0% 96.4%

89.0%

87.6% 87.3%

92.7%

91.3%

94.3%

82%

84%

86%

88%

90%

92%

94%

96%

98%


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

pacificunion.com

http://docs.pacunion.com/2015q1/tahoetruckee_chart9_salesprice_originalprice_sfh.pdf

http://docs.pacunion.com/2015q1/tahoetruckee_chart10_salesprice_originalprice_condos.pdf

pacificunion.com


Alpine Meadows 490,000$ 3,959,500$ 708% 1 4 300% 62 130 110% 490,000$ 937,500$ 91%

Donner Lake 4,632,000$ 2,254,000$ -51% 8 5 -38% 71 578 714% 497,500$ 435,000$ -13%

Donner Summit 2,805,000$ 463,000$ -83% 4 1 -75% 79 6 -92% 600,000$ 463,000$ -23%

Martis Valley 32,500,834$ 55,112,991$ 70% 22 23 5% 168 178 6% 1,047,500$ 1,953,000$ 86%

North Lake Tahoe 36,208,750$ 38,903,000$ 7% 33 31 -6% 85 138 62% 650,000$ 650,000$ 0%

Northstar 10,148,348$ 600,000$ -94% 10 1 -90% 265 291 10% 890,000$ 600,000$ -33%

Squaw Valley 7,185,000$ -$ n/a 5 0 n/a 130 0 n/a 1,250,000$ -$ n/a

Tahoe City 13,056,250$ 18,052,000$ 38% 14 13 -7% 80 110 38% 697,500$ 815,000$ 17%

Tahoe Donner 19,859,000$ 27,296,900$ 37% 33 41 24% 76 85 12% 600,000$ 580,000$ -3%

Truckee 37,784,684$ 62,602,551$ 66% 35 39 11% 126 128 2% 515,000$ 594,481$ 15%

West Shore 23,992,500$ 37,827,825$ 58% 15 36 140% 95 199 109% 650,000$ 537,500$ -17%

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

Lake Tahoe/Truckee Snapshot: SFH, Q1 2015 vs. Q1 2014



Alpine Meadows 280,000$ 330,000$ 18% 1 1 0% 90 32 -64% 280,000$ 330,000$ 18%

Donner Lake -$ -$ n/a 0 0 n/a 0 0 n/a -$ -$ n/a

Donner Summit 170,000$ 165,000$ -3% 1 1 0% 25 417 1568% 170,000$ 165,000$ -3%

North Lake Tahoe 4,628,400$ 5,470,000$ 18% 13 15 15% 153 58 -62% 255,000$ 335,000$ 31%

NorthStar 3,874,750$ 5,207,000$ 34% 10 12 20% 128 119 -7% 326,000$ 385,000$ 18%

Squaw Valley 3,821,000$ 4,321,500$ 13% 11 8 -27% 248 369 49% 418,500$ 517,250$ 24%

Tahoe City 1,600,500$ 2,294,000$ 43% 5 6 20% 89 101 13% 255,000$ 339,500$ 33%

Tahoe Donner 2,004,500$ 2,196,500$ 10% 8 6 -25% 120 39 -68% 222,250$ 424,750$ 91%

Truckee 3,499,500$ 3,948,500$ 13% 6 7 17% 190 111 -42% 402,000$ 342,500$ -15%

West Shore 1,825,000$ -$ n/a 1 0 n/a 2 0 n/a 1,825,000$ -$ n/a

Lake Tahoe/Truckee Snapshot: Condos, Q1 2015 vs. Q1 2014

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


pacificunion.com

http://docs.pacunion.com/2015q1/tahoetruckee_chart11_sect2_communities_sfh.pdf

http://docs.pacunion.com/2015q1/tahoetruckee_chart12_sect2_communities_condos.pdf

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