Santa Barbara Region Market Update | Q4 2017

Q4 | 2017

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

Elegant Tuscan Estate | Offered at $6,995,000 sothebyshomes.com/0114157

Santa Barbara sothebyshomes.com/santabarbara

Santa Ynez Valley sothebyshomes.com/santaynez

Montecito, Santa Barbara, and Santa Ynez Valley Brokerages Dave Osman / Vice President & Brokerage Manager montecito coast village road

805.969.9993

montecito upper village

805.969.5005

santa barbara

805.963.1391

santa ynez valley

805.688.4200

All data within this document is pulled from the Santa Barbara MLS and North Santa Barbara County MLS. 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. 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. Equal housing opportunity.

Santa Barbara 04 06

Market Shapshot | All Areas

08 10

16

Carpinteria | Summerland Montecito

12 14

Featured Properties

Santa Barbara Hope Ranch Goleta

Santa Ynez Valley 18 20 22 24 26 28

Featured Properties Market Shapshot | All Areas Santa Ynez

Ballard | Solvang Los Olivos Buellton

SANTA BARBARA

Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/SANTABAR BARA

MONTECITO

Heart of Montecito | Offered at $4,495,000 sothebyshomes.com/0632661

MONTECITO

Offered at $40,000,000 sothebyshomes.com/0114130 MONTECITO

Offered at $4,495,000 sothebyshomes.com/0593157 MONTECITO

Offered at $4,395,000 sothebyshomes.com/0114103 MONTECITO

Offered at $1,695,000 sothebyshomes.com/0114281 *in order from left to right, top to bottom

sothebyshomes.com/santabarbara

5

/ Santa Barbara Featured Properties / Santa Barbara Q4 Market Update

Market Snapshot Santa Barbara | Q4 2017

Highlight: Total Units Sold Highlight -units vs ASP Carpinteria & Summerland

$1.6

450

$1.4

Goleta

400

$1.2

Carp-Summerland Montecito

$1.0 Montecito

350

$0.8 Santa Barbara

Hope Ranch $0.6

Hope Ranch Santa Barbara

300

Goleta

$0.4

250

$0.2 $0.0 *Price in Millions

Total Units Sold 51 54 202 13 118

200

2013 2014 2015 2016 2017

Average Selling Price vs. Total Units Sold

Carpinteria | Summerland

Average Selling Price

Montecito

Total Units Sold

Santa Barbara Hope Ranch Goleta

Five Year Comparison

Carpinteria | Summerland, Montecito, Santa Barbara Hope Ranch, and Goleta

$6 $5 $4 $3 $2 $1 $0 *Price in Millions

2013

2014

2015

2016

2017

Average Selling Price Over Five Years by Area

Carpinteria | Summerland

Montecito

Santa Barbara

Hope Ranch

7

Goleta

/ Q4 Highlights / Santa Barbara Q4 Market Update

at a glance {Q4 | 2017}

carpinteria | summerland

70

%

Change in Average Selling Price {2017 v 2016}

-2

%

Change in Units Sold {2017 v 2016}

51 Units Sold

1.7m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,800,000

53

$1,600,000

52

$1,400,000

51 50

$1,200,000

49

$1,000,000

48

$800,000

47

$600,000

46

$400,000

45

$200,000

44

$0

43

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Carpinteria & Summerland Carpinteria is graciously situated where the Pacific meets the idyllic beach town and foothills of the area. The hillside-lined homes of Summerland boast views of the coastline and the Channel Islands. sothebyshomes.com/santabarbara

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

73%

70%

6%

-2%

2017

$1,784,485

$1,681,133

51

51

2016

$1,030,854

$990,250

48

52

2015

$1,441,163

$1,376,077

59

46

2014

$1,153,215

$1,094,373

69

52

2013

$1,196,879

$1,106,443

49

49

Q4 {2017 v 2016}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q4 Market Update

|

Average Selling Price Total Units Sold $4,000,000

60

$3,500,000

50

$3,000,000 40

$2,500,000 $2,000,000

30

$1,500,000

20

$1,000,000 10

$500,000 $0

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Montecito One of the most world-renowned areas in which to live, Montecito emulates sophisticated elegance in every way. Bungalows, traditional homes, and estates stretch from the beach to the foothills and are surrounded by native eucalyptus tress and stunning views. sothebyshomes.com/santabarbara

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-17%

-16%

-24%

23%

2017

$2,708,222

$2,576,736

83

54

2016

$3,243,432

$3,072,590

109

44

2015

$3,645,469

$3,418,449

69

48

2014

$3,057,238

$2,867,950

127

40

2013

$3,798,987

$3,422,400

137

52

Q4 {2017 v 2016}

Change

Santa Barbara Q4 Market Update / Montecito / 10

at a glance {Q4 | 2017}

montecito

-16

%

Change in Average Selling Price {2017 v 2016}

23

%

Change in Units Sold {2017 v 2016}

54 Units Sold

2.6m

$

Average Selling Price

at a glance {Q4 | 2017}

santa barbara

6

%

Change in Average Selling Price {2017 v 2016}

-3

%

Change in Units Sold {2017 v 2016}

202 Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,400,000

250

$1,200,000

200

$1,000,000 $800,000

150

$600,000

100

$400,000 50

$200,000 $0

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Santa Barbara Known as the American Riviera, Santa Barbara’s alluring landscape is the perfect culmination of mountains and ocean mixed with soaring palm trees, a storied Spanish heritage, and relaxed sophistication. sothebyshomes.com/santabarbara

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

5%

6%

-4%

-3%

2017

$1,299,864

$1,267,904

54

202

2016

$1,242,947

$1,199,665

56

208

2015

$1,166,523

$1,132,848

44

170

2014

$1,107,189

$1,077,634

56

195

2013

$1,030,376

$1,006,316

39

193

Q4 {2017 v 2016}

Change

13

/ Santa Barbara / Santa Barbara Q4 Market Update

|

Average Selling Price Total Units Sold $6,000,000

14

$5,000,000

12 10

$4,000,000

8 $3,000,000 6 $2,000,000

4

$1,000,000

2

$0

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Hope Ranch Hope Ranch sits above a beautiful stretch of the Pacific coast with homes overlooking the ocean. A rare gem, with a wonderful blend of fine estates, incredible architecture, horseback riding trails, and private beach access makes this area exceptional. sothebyshomes.com/santabarbara

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

71%

51%

132%

333%

2017

$5,500,154

$4,770,269

174

13

2016

$3,208,333

$3,161,667

75

3

2015

$5,825,714

$5,306,929

98

7

2014

$2,589,125

$2,364,750

178

8

2013

$3,505,000

$3,285,833

153

6

Q4 {2017 v 2016}

Change

Santa Barbara Q4 Market Update / Hope Ranch / 14

at a glance {Q4 | 2017}

hope ranch

51

%

Change in Average Selling Price {2017 v 2016}

333

%

Change in Units Sold {2017 v 2016}

13 Units Sold

4.8m

$

Average Selling Price

at a glance {Q4 | 2017}

goleta

25

%

Change in Average Selling Price {2017 v 2016}

-6

%

Change in Units Sold {2017 v 2016}

118 Units Sold

1

$ m Average Selling Price

|

Average Selling Price Total Units Sold $880,000

250

$860,000 200

$840,000 $820,000

150

$800,000 $780,000

100

$760,000 $740,000

50

$720,000 $700,000

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Goleta Goleta, known as the “Goodland,� offers an incredible lifestyle with excellent beaches, schools, and outdoor living. Views abound throughout the area of the Santa Ynez Mountains and the Channel Islands. sothebyshomes.com/santabarbara

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

26%

25%

24%

-6%

2017

$1,049,492

$1,023,550

45

118

2016

$833,486

$818,031

36

126

2015

$789,058

$786,301

35

129

2014

$665,336

$654,807

47

116

2013

$950,738

$905,158

25

135

Q4 {2017 v 2016}

Change

17

/ Goleta / Santa Barbara Q4 Market Update

SANTA YNEZ VALLEY

Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/SANTAYNE Z

SANTA YNEZ

Happy Canyon Approx. 103 Acres | Offered at $4,600,000 sothebyshomes.com/0621739

SANTA YNEZ

Offered at $14,900,000 sothebyshomes.com/0621762 BALLARD

Offered at $2,475,000 sothebyshomes.com/0621784 SANTA YNEZ

Offered at $1,895,000 sothebyshomes.com/0621824 SANTA YNEZ

Offered at $1,295,000 sothebyshomes.com/0621828 *in order from left to right, top to bottom

sothebyshomes.com/santaynez

19

/ Featured Properties / Santa Ynez Valley Q4 Market Update

Market Snapshot

Highlight: Total Units Sold Santa Ynez Valley | Q4 2017

Highlight -units vs ASP $1.2

80 70

$1.0

Buellton Santa Ynez

$0.8

$0.6

Los Olivos

Santa Ynez

60

Ballard & Solvang

50

Los Olivos Buellton

40 30

$0.4

20

Ballard & Solvang

$0.2

10

$0.0 *Price in Millions

Total Units Sold 26 22 3 17

0

2013 2014 2015 2016 2017

Average Selling Price vs. Total Units Sold

Santa Ynez

Average Selling Price

Ballard | Solvang

Total Units Sold

Los Olivos Buellton

Five Year Comparison Santa Ynez Valley

$2.0

$1.5

$1.0

$0.5

$0.0 *Price in Millions

2013

2014

2015

2016

2017

Average Selling Price Over Five Years by Area

Santa Ynez

Ballard | Solvang

Los Olivos

21

Buellton

/ Q4 Market Snapshot / Santa Ynez Valley Q4 Market Update

at a glance {Q4 | 2017}

santa ynez

48

%

Change in Average Selling Price {2017 v 2016}

136

%

Change in Units Sold {2017 v 2016}

26 Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $2,000,000

30

$1,800,000

25

$1,600,000 $1,400,000

20

$1,200,000 $1,000,000

15

$800,000

10

$600,000 $400,000

5

$200,000 $0

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Santa Ynez Characterized by golden hills and iconic oak trees, Santa Ynez spans the Santa Ynez Valley including homes in the small township to ranches and ranchettes, vineyard and equestrian estates - each incredibly unique. sothebyshomes.com/santaynez

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

54%

48%

34%

136%

2017

$1,483,300

$1,343,721

76

26

2016

$963,264

$906,355

115

11

2015

$1,807,438

$1,677,880

102

8

2014

$1,869,300

$1,738,000

96

10

2013

$714,667

$680,889

34

9

Q4 {2017 v 2016}

Change

23

/ Santa Ynez / Santa Ynez Valley Q4 Market Update

|

Average Selling Price Total Units Sold $1,200,000

25

$1,000,000

20

$800,000

15

$600,000 10

$400,000

5

$200,000 $0

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Ballard | Solvang The town of Solvang, known for its rich Danish heritage, is surrounded by homes ranging from ranch-style to estates with views for miles. Nestled in the heart of the Valley, the quaint town of Ballard is comprised of bungalows, ranches, and one of the most sought after school districts in the area. sothebyshomes.com/santaynez

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

0%

-3%

-14%

0%

2017

$1,000,313

$927,295

78

22

2016

$1,000,706

$951,890

91

22

2015

$702,550

$663,395

131

19

2014

$640,786

$611,964

82

14

2013

$558,907

$524,750

71

14

Q4 {2017 v 2016}

Change

Santa Ynez Valley Q4 Market Update / Ballard | Solvang / 24

at a glance {Q4 | 2017}

ballard | solvang

-3

%

Change in Average Selling Price {2017 v 2016}

0

%

Change in Units Sold {2017 v 2016}

22 Units Sold

900k

$

Average Selling Price

at a glance {Q4 | 2017}

los olivos

-24

%

Change in Average Selling Price {2017 v 2016}

-25

%

Change in Units Sold {2017 v 2016}

3

Units Sold

800k

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,600,000

4.5

$1,400,000

4

$1,200,000

3.5 3

$1,000,000

2.5

$800,000

2

$600,000

1.5

$400,000

1

$200,000

0.5

$0

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Los Olivos The charming town of Los Olivos is made up of fine restaurants, local vineyards’ tasting rooms, and boutiques with bungalows close to town and ranches spread across the area’s rolling hills. sothebyshomes.com/santaynez

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

63%

-24%

30%

-25%

2017

-24%

$818,333

149

3

2016

$847,667

$1,079,250

115

4

2015

$1,122,225

$1,355,000

121

2

2014

$1,410,000

$601,833

22

3

2013

0

0

0

0

Q4 {2017 v 2016}

Change

27

/ Los Olivos / Santa Ynez Valley Q4 Market Update

|

Average Selling Price Total Units Sold $900,000

18

$800,000

16

$700,000

14

$600,000

12

$500,000

10

$400,000

8

$300,000

6

$200,000

4

$100,000

2

$0

0

2013

2014

2015

2016

Average Selling Price

2017

Total Units Sold

About

Buellton The west side of the Valley, Buellton is home to some of the most stunning vineyards in the area, beautiful riding trails, and a thriving community that is constantly evolving. sothebyshomes.com/santaynez

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-3%

-3%

-59%

42%

2017

$622,929

$614,000

56

17

2016

$642,317

$632,583

138

12

2015

$428,941

$424,579

30

11

2014

$412,455

$401,538

39

11

2013

$835,800

$808,000

39

5

Q4 {2017 v 2016}

Change

Santa Ynez Valley Q4 Market Update / Buellton / 28

at a glance {Q4 | 2017}

buellton

-3

%

Change in Average Selling Price {2017 v 2016}

42

%

Change in Units Sold {2017 v 2016}

17 Units Sold

600k

$

Average Selling Price

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