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MARKET UPDATE | Q4 2013 santa barbara

five years of Average selling Prices | q4 $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0

A MESSAGE FROM OUR MANAGER: Greg Tice Well, 2013 was quite a year. As the second year of recovery for real estate, I think the biggest factors in 2013 were improvements in sales prices and continued low interest rates. As a district, Santa Barbara experienced more than 35 percent yearover-year growth compared to Q4 2012. However, in many neighborhoods, such as the Mesa, San Roque and Samarkand, prices for the nicest properties were nearly identical to prices in 2007. The buyers who were brave enough to buy in 2009-2011 are now being rewarded for buying at the bottom of the market. But with interest rates still historically low, buyers still have a window of opportunity to capitalize on current market conditions.

santa barbara brokerages

2009

2010

Montecito

Santa Barbara

2011

2012

Carpinteria | Summerland

2013

Hope Ranch

Goleta

Santa Barbara About the Area Known as the American Riviera, Santa Barbara is truly one of California’s most vibrant and beautiful cities. The alluring landscape is enhanced by the red-tiled roofs of homes, the foliage of its Spanish heritage, the striking backdrop of the Santa Ynez Mountains and the majestic palm trees. AVerage Sale Price | Total SFH Sold | q4 $1,200,000

350

$1,000,000

300

$800,000 $600,000

montecito Coast Village Road Brokerage 1106 Coast Village Road | t. 805.969.9993

$400,000

montecito upper village Brokerage 1482 East Valley Road Road | t. 805.969.5005

$200,000 $0

Santa barbara Brokerage 1436 State Street | t. 805.963.1391

$4,500,000

80

$4,000,000

70

$3,500,000

60

$3,000,000

50

$2,500,000

30

$1,500,000

20

$1,000,000

$0

20102009

2008

2011

2010

Average Sale Average SalePrice Price

2011

2012 2012

0

All data within this document is pulled from the Santa Barbara MLS. Areas include from Carpinteria - Goleta North.

0

2013

% Change (2013 v 2012)

$755,989

$1,033,714

37%

$737,253

$1,008,811

37%

172

320

190

-41%

95%

95%

98%

2010

2011

2012

Average List Price

$944,465

$963,936

$832,840

Average Sold Price

$903,799

$908,473

$783,318

162

149

94%

95%

Discount Ratio

50

Total Total SFH SoldSFH Sold

2009

Total SFH Sold

100

2013

santa ynez valley Brokerage 2900 Nojoqui Ave | t. 805.688.4200 Greg Tice, Senior Vice President & Brokerage Manager 805.969.9993 | greg.tice@sothebyshomes.com

150

10

$500,000

single family homes | Q4

200

40

$2,000,000

2009

250

carpinteria | Summerland AVerage Sale Price | Total SFH Sold | Q4

About the Area The oceanside city of Carpinteria has its own special character and is known as a residential

$1,800,000

56

$1,600,000

54

$1,400,000

52

$1,200,000

50

$1,000,000

48

$800,000

46

and agricultural gem with gorgeous bluffs

$600,000

overlooking the ocean and beautiful beaches.

$400,000

44

$200,000

42

$0

40 2009

2010

2011

2012

Average Sale Price

single family homes | Q4

2009

2010

2011

2013

Total SFH Sold

2012

% Change (2013 v 2012)

2013

Average List Price

$1,851,204

$1,554,763

$546,066

$1,144,110

$1,196,879

5%

Average Sold Price

$1,683,322

$1,305,883

$513,499

$1,085,218

$1,106,443

2% -6%

Total SFH Sold

Discount Ratio

45

54

50

52

49

91%

90%

94%

97%

95%

hope ranch AVerage Sale Price | Total SFH Sold | Q4 $5,000,000

12

$4,500,000 10

$4,000,000 $3,500,000

About the Area

$3,000,000

The palm-lined community of Hope Ranch is a

$2,500,000

world of its own. Hope Ranch properties have

$2,000,000

spectacular views of both the mountains and

$1,500,000

the ocean. A wonderful blend of fine estates,

$1,000,000

Hope Ranch remains one of the great gems of

8

6

4

2

$500,000

gracious living in the Santa Barbara area.

$0

0 2009

2010 Average Sale Price

single family homes | Q4

2011

2012

2013

Total SFH Sold

2012

2013

% Change (2013 v 2012)

$4,463,250

$2,965,714

$3,505,000

18%

$3,791,025

$2,845,571

$3,285,833

15%

7

6

7

6

-14%

92%

93%

83%

100%

2009

2010

2011

Average List Price

$4,558,800

$5,391,429

Average Sold Price

$3,976,900

$4,452,143

Total SFH Sold

10

Discount Ratio

88%

montecito | santa barbara | carpinteria - Summerland | hope ranch | Goleta

montecito AVerage Sale Price | Total SFH Sold | q4 $4,000,000

100

$3,500,000

90 80

$3,000,000

70

$2,500,000

60

About the Area

$2,000,000

50

The community of Montecito offers a

$1,500,000

40

serene retreat and boasts tree-lined

30

streets with lavish estates, many of which

20

are architecturally significant, including

10

English-style manor houses and elegant

0

contemporary homes that stretch from

$1,000,000 $500,000 $0 2009

2010

2011

Average Sale Price

2012

2013

the beach up into the foothills. Elegance is exuded in every detail of its stunning

Total SFH Sold

surroundings and relaxed atmosphere. single family homes | Q4

2009

2010

Average List Price

$2,683,321

$2,961,498

Average Sold Price

$2,435,906

$2,612,919

2011

% Change (2013 v 2012)

2012

2013

$2,054,312

$3,106,825

$3,789,046

22%

$1,905,244

$2,837,098

$3,411,546

20% -42%

Total SFH Sold

45

57

41

86

50

Discount Ratio

87%

90%

93%

95%

95%

goleta AVerage Sale Price | Total SFH Sold | Q4 $1,000,000

140

$900,000

120

$800,000 $700,000

100

$600,000

80

About the Area Goleta lies approximately 15 miles west of

$500,000 $400,000

60

Santa Barbara. Formerly home to acres of

$300,000

40

avocados, lemons and oranges, Goleta real

$200,000

estate is built among the few remaining

20

$100,000 $0

productive groves. Goleta enjoys fabulous communities, beaches, schools, and

0 2009

2010 Average Sale Price

2011

2012

2013

outdoor living. Views abound throughout

Total SFH Sold

the area of the Santa Ynez Mountains and the Channel Islands.

single family homes | Q4

2009

2010

2011

2012

2013

% Change (2013 v 2012)

Average List Price

$759,888

$730,119

$599,208

$644,639

$930,367

44%

Average Sold Price

$723,468

$696,106

$566,522

$634,162

$890,605

40% 2%

Total SFH Sold

132

98

103

131

133

Discount Ratio

97%

96%

95%

93%

99%

sothebyshomes.com/santabarbara

ON THE MARKET FEATURED PROPERTy

LISTINGS AROUND THE WORLD IN THIS PRICE RANGE

Montecito, CA

in metropolitan markets

Price: $4,200,000 Agent: Harry Kolb

Houston, Sugar Land

harry.kolb@sothebyshomes.com 805.452.2500

Enjoy ocean and views from this classic Mediterranean-style home located in Montecito, in the prestigious gated community of Ennisbrook. Set on an approx. half-acre lot, this highly appointed 3-bedroom plus office, 4.5-bath home features approx. 4,523 sq.ft. of expansive public rooms with vaulted, beamed ceilings, and elegant antique fixtures. Perfect for entertaining, the gourmet kitchen is open to the family room and ideal for gatherings, featuring granite countertops, a professional-grade range and a butcher block kitchen island. The expansive living room with a large arched leaded window, fireplace and French doors opens to the formal dining room with a wall of French doors. A dramatic tower leads to the second-floor master bedroom suite with tiled terrace, and ocean and garden views.

NEW YORK

Los Angeles

5 br / 5 ba / 2 hf ba $4,950,000 3 br / 2 ba / 1 hf ba $5,350,000 6 br / 9 ba $5,800,000

in resort markets

SANTA FE

PALM BEACH

5 br / 5 ba / 2 hf ba $4,800,000

3 br / 4 ba / 1 hf ba $4,700,000 5 br / 4 ba $5,195,000

Ventura

in foreign markets

South Africa

Puerto Rico

6 br / 6 ba $5,186,242

5 br / 5 ba / 2 hf ba $4,400,000 5 br / 4 ba / 1 hf ba Price Upon Request

at sotheby’s auction

Songye“Four Horn” Community Power Figure The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000

Australia

sothebys.com

The Pink Star Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30


Santa Barbara Market Update Q4 2013