Santa Barbara Region Market Update| Q1 2019

Q1 | 2019

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

Montecito Contemporary in the Hedgerow Offered at $3,750,000 | 238MiramarAve.com

Santa Barbara SOTHEBYSHOMES.COM/SANTABARBARA

Santa Ynez Valley SOTHEBYSHOMES.COM/SANTAYNEZ

Montecito, Santa Barbara, and Santa Ynez Valley Brokerages MONTECITO COAST VILLAGE ROAD

805.969.9993

MONTECITO UPPER VILLAGE

805.969.5005

/

Michael Cohen Vice President & Brokerage Manager 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 Snapshot | 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 Snapshot | 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/ SANTABARBARA

MONTECITO

Montecito Tuscan Villa | Offered at $8,900,000 355OrtegaRidge.com

MONTECITO

Offered at $11,750,000 1333EastMountain.com MONTECITO

Offered at $4,495,000 MontecitoValley.com GOLETA

Offered at $4,250,000 2169Refugio.com MONTECITO

Offered at $3,169,000 1211EastValleyRoad.com *in order from left to right, top to bottom

sothebyshomes.com/santabarbara

5

/ Santa Barbara Featured Properties / Santa Barbara Q1 Market Update

Market Snapshot Santa Barbara | Q1 2019

Highlight: Total Units Sold Highlight -units vs ASP

Carpinteria & Summerland

Goleta

Montecito

$2.5

450

$2.0

400

Carp-Summerland Montecito $1.5

350

Santa Barbara Hope$1.0 Ranch Santa Barbara

300

Goleta $0.5

250

$0.0

200

Hope Ranch *Price in Millions

Total Units Sold 41 31 157 9 114

2015 2016 2017 2018 2019

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

$7 $6 $5 $4 $3 $2 $1 $0 *Price in Millions

2015

2016

2017

2018

2019

Average Selling Price Over Five Years by Area

Carpinteria | Summerland

Montecito

Santa Barbara

Hope Ranch

7

Goleta

/ Q1 Market Snapshot / Santa Barbara Q1 Market Update

at a glance {Q1 | 2019}

CARPINTERIA | SUMMERLAND

88

%

Change in Average Selling Price {2019 v 2018}

37

%

Change in Units Sold {2019 v 2018}

41 Units Sold

1.6m

$

Average Selling Price

|

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

60

$1,600,000

50

$1,400,000 $1,200,000

40

$1,000,000

30

$800,000 $600,000

20

$400,000

10

$200,000 $0

0

2015

2016

2017

Average Selling Price

2018

2019

Total Units Sold

About

Carpinteria & Summerland Carpinteria is graciously situated where the PaciďŹ c 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

101%

88%

-2%

37%

2019

$1,791,559

$1,618,478

55

41

2018

$892,830

$862,380

56

30

2017

$1,195,552

$1,153,567

55

52

2016

$696,751

$676,295

36

37

2015

$1,820,639

$1,666,911

46

56

Q1 {2019 v 2018}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q1 Market Update

|

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

70

$5,000,000

60 50

$4,000,000

40 $3,000,000 30 $2,000,000

20

$1,000,000

10

$0

0

2015

2016

2017

2018

Average Selling Price

2019 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 trees and stunning views. sothebyshomes.com/santabarbara

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

44%

38%

5%

-18%

2019

$6,138,056

$5,308,871

131

31

2018

$4,258,658

$3,845,388

125

38

2017

$3,891,217

$3,538,363

126

46

2016

$4,277,913

$4,055,923

85

63

2015

$4,531,484

$4,240,813

107

56

Q1 {2019 v 2018}

Change

Santa Barbara Q1 Market Update / Montecito / 10

at a glance {Q1 | 2019}

MONTECITO

38

%

Change in Average Selling Price {2019 v 2018}

-18

%

Change in Units Sold {2019 v 2018}

31 Units Sold

5.3m

$

Average Selling Price

at a glance {Q1 | 2019}

SANTA BARBARA

5

%

Change in Average Selling Price {2019 v 2018}

-5

%

Change in Units Sold {2019 v 2018}

157 Units Sold

1.4m

$

Average Selling Price

|

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

200 180

$1,350,000

160

$1,300,000

140 120

$1,250,000

100 $1,200,000

80

$1,150,000

60 40

$1,100,000

20

$1,050,000

0

2015

2016

2017

2018

Average Selling Price

2019

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

6%

5%

40%

-5%

2019

$1,422,395

$1,380,096

60

157

2018

$1,345,515

$1,320,135

43

165

2017

$1,249,278

$1,208,915

61

164

2016

$1,207,691

$1,173,217

50

152

2015

$1,285,438

$1,245,586

55

189

Q1 {2019 v 2018}

Change

13

/ Santa Barbara / Santa Barbara Q1 Market Update

|

Average Selling Price Total Units Sold 18

$7,000,000

16

$6,000,000

14

$5,000,000

12

$4,000,000

10

$3,000,000

8 6

$2,000,000

4

$1,000,000

2

$0

0

2015

2016

2017

2018

Average Selling Price

2019

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

51%

56%

-48%

-44%

2019

$6,673,111

$6,424,667

82

9

2018

$4,427,063

$4,109,794

158

16

2017

$3,073,667

$2,915,880

154

15

2016

$6,008,500

$5,301,250

43

4

2015

$4,195,250

$3,870,417

113

12

Q1 {2019 v 2018}

Change

Santa Barbara Q1 Market Update / Hope Ranch / 14

at a glance {Q1 | 2019}

HOPE RANCH

56

%

Change in Average Selling Price {2019 v 2018}

-44

%

Change in Units Sold {2019 v 2018}

9

Units Sold

6.4m

$

Average Selling Price

at a glance {Q1 | 2019}

GOLETA

70

%

Change in Average Selling Price {2019 v 2018}

24

%

Change in Units Sold {2019 v 2018}

114 Units Sold

1.5M

$

Average Selling Price

|

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

140

$1,400,000

120

$1,200,000

100

$1,000,000

80

$800,000 60

$600,000

40

$400,000

20

$200,000 $0

0

2015

2016

2017

2018

Average Selling Price

2019

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

90%

70%

7%

24%

2019

$1,660,703

$1,469,709

48

114

2018

$873,658

$864,935

44

92

2017

$880,344

$859,968

50

115

2016

$709,681

$697,307

34

91

2015

$771,525

$755,031

49

102

Q1 {2019 v 2018}

Change

17

/ Goleta / Santa Barbara Q1 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/ SANTAYN E Z

SANTA YNEZ

Iconic Santa Ynez Ranch | Offered at $7,998,000 7300HappyCyn.com

SANTA YNEZ

Offered at $9,495,000 1430CountFleet.com SANTA YNEZ

Offered at $6,995,000 1920Westerly.com SOLVANG

Offered at $5,495,000 FredensborgCanyonRanch.com SOLVANG

Offered at $1,690,000 3146RileyRoad.com *in order from left to right, top to bottom

sothebyshomes.com/santayneZ

19

/ Featured Properties / Santa Ynez Valley Q1 Market Update

Market Snapshot

Highlight: Total Units Sold Santa Ynez Valley | Q1 2019

Highlight -units vs ASP $1.4

Santa Ynez Buellton

$1.2 $1.0 $0.8

60

Santa Ynez Ballard & Solvang Los Olivos Buellton

Ballard & Solvang

Los Olivos

10

$0.0 *Price in Millions

0

2015 2016 2017 2018 2019

Average Selling Price vs. Total Units Sold

Santa Ynez

Average Selling Price

Ballard | Solvang

Total Units Sold

Los Olivos Buellton

30 20

$0.2

8 18 7 12

40

$0.6 $0.4

Total Units Sold

50

Five Year Comparison Santa Ynez Valley

$2.0

$1.5

$1.0

$0.5

$0.0 *Price in Millions

2015

2016

2017

2018

2019

Average Selling Price Over Five Years by Area

Santa Ynez

Ballard | Solvang

Los Olivos

21

Buellton

/ Q1 Market Snapshot / Santa Ynez Valley Q1 Market Update

at a glance {Q1 | 2019}

SANTA YNEZ

11

%

Change in Average Selling Price {2019 v 2018}

-56

%

Change in Units Sold {2019 v 2018}

8

Units Sold

1.8m

$

Average Selling Price

|

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

20

$1,800,000

18

$1,600,000

16

$1,400,000

14

$1,200,000

12

$1,000,000

10

$800,000

8

$600,000

6

$400,000

4

$200,000

2

$0

0

2015

2016

2017

2018

Average Selling Price

2019

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

13%

11%

16%

-56%

2019

$1,863,500

$1,767,500

137

8

2018

$1,655,444

$1,594,056

118

18

2017

$1,372,182

$1,272,182

188

11

2016

$1,423,250

$1,304,667

179

12

2015

$1,675,000

$1,562,222

118

9

Q1 {2019 v 2018}

Change

23

/ Santa Ynez / Santa Ynez Valley Q1 Market Update

|

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

30

$1,200,000

25

$1,000,000

20

$800,000

15

$600,000

10

$400,000 $200,000

5

$0

0

2015

2016

2017

2018

Average Selling Price

2019

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

26%

27%

56%

-25%

2019

$1,319,022

$1,280,389

122

18

2018

$1,047,454

$1,010,829

78

24

2017

$982,356

$934,001

126

24

2016

$850,714

$826,786

139

14

2015

$959,554

$892,527

189

13

Q1 {2019 v 2018}

Change

Santa Ynez Valley Q1 Market Update / Ballard | Solvang / 24

at a glance {Q1 | 2019}

BALLARD | SOLVANG

27

%

Change in Average Selling Price {2019 v 2018}

-25

%

Change in Units Sold {2019 v 2018}

18 Units Sold

1.3m

$

Average Selling Price

at a glance {Q1 | 2019}

LOS OLIVOS

117

%

Change in Average Selling Price {2018 v 2017}

600

%

Change in Units Sold {2018 v 2017}

7

Units Sold

1.4m

$

Average Selling Price

|

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

8

$1,400,000

7

$1,200,000

6

$1,000,000

5

$800,000

4

$600,000

3

$400,000

2

$200,000

1

$0

0

2015

2016

2017

2018

Average Selling Price

2019

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

117%

117%

38%

600%

2019

$1,519,843

$1,373,571

170

7

2018

$699,000

$633,000

123

1

2017

$1,064,000

$1,035,000

41

2

2016

$1,332,855

$1,207,270

111

5

2015

$947,000

$912,000

161

2

Q1 {2019 v 2018}

Change

27

/ Los Olivos / Santa Ynez Valley Q1 Market Update

|

Average Selling Price Total Units Sold $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

2015

2016

2017

2018

Average Selling Price

2019

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

-7%

-6%

-59%

-14%

2019

$519,575

$521,869

47

12

2018

$558,377

$552,893

116

14

2017

$790,325

$749,250

151

6

2016

$476,357

$469,464

104

14

2015

$368,150

$357,550

64

10

Q1 {2019 v 2018}

Change

Santa Ynez Valley Q1 Market Update / Buellton / 28

at a glance {Q1 | 2019}

BUELLTON

-6

%

Change in Average Selling Price {2019 v 2018}

-14

%

Change in Units Sold {2019 v 2018}

12 Units Sold

500k

$

Average Selling Price

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