Santa Barbara Region Marketing Update | Q3 2018

Q3 | 2018

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

Quintessential Montecito Estate | Offered at $11,999,999 sothebyshomes.com/0028100

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

Frank Symons / EVP/COO, Western Region 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/SANTABAR BARA

MONTECITO

Rancho San Carlos | Offered at $85,000,000

sothebyshomes.com/0113856

SANTA BARBARA

Offered at $4,395,000 sothebyshomes.com/0114425 SANTA BARBARA

Offered at $3,995,000 sothebyshomes.com/0593175 MONTECITO

Offered at $2,150,000

sothebyshomes.com/0114355 SANTA BARBARA

Offered at $1,399,000 sothebyshomes.com/0114409 *in order from left to right, top to bottom

sothebyshomes.com/santabarbara

5

/ Santa Barbara Featured Properties / Santa Barbara Q3 Market Update

Market Snapshot Santa Barbara | Q3 2018

Highlight: Total Units Sold Highlight -units vs ASP

Carpinteria & Summerland

Montecito

Goleta

$1.6

600

$1.4

550

$1.2 Carp-Summerland

500

$1.0 Montecito

450

Santa $0.8Barbara

400

Hope Ranch $0.6

Santa Barbara Hope Ranch

Goleta $0.4

300

$0.2

250

$0.0

200

*Price in Millions

Total Units Sold 45 40 221 9 141

2014 2015 2016 2017 2018

Average Selling Price vs. Total Units Sold

Carpinteria | Summerland

Average Selling Price

Montecito

Total Units Sold

Santa Barbara Hope Ranch Goleta

350

Five Year Comparison

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

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

2014

2015

2016

2017

2018

Average Selling Price Over Five Years by Area

Carpinteria | Summerland

Montecito

Santa Barbara

Hope Ranch

7

Goleta

/ Q3 Highlights / Santa Barbara Q3 Market Update

at a glance {Q3 | 2018}

carpinteria | summerland

-7

%

Change in Average Selling Price {2018 v 2017}

-25

%

Change in Units Sold {2018 v 2017}

45 Units Sold

900k

$

Average Selling Price

|

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

80

$1,400,000

70

$1,200,000

60

$1,000,000

50

$800,000

40

$600,000

30

$400,000

20

$200,000

10

$0

0

2014

2015

2016

2017

Average Selling Price

2018

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

-7%

-7%

72%

-25%

2018

$930,564

$900,657

93

45

2017

$1,003,577

$970,914

54

60

2016

$968,323

$916,696

64

57

2015

$1,056,154

$997,622

46

71

2014

$1,456,130

$1,335,290

70

40

Q3 {2018 v 2017}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q3 Market Update

|

Average Selling Price Total Units Sold $5,000,000

90

$4,500,000

80

$4,000,000

70

$3,500,000

60

$3,000,000

50

$2,500,000

40

$2,000,000

30

$1,500,000 $1,000,000

20

$500,000

10

$0

0

2014

2015

2016

2017

Average Selling Price

2018 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

21%

21%

-52%

-39%

2018

$4,695,113

$4,289,732

59

40

2017

$3,868,496

$3,540,091

122

66

2016

$3,149,419

$2,904,790

103

59

2015

$4,070,193

$3,847,569

90

44

2014

$3,956,025

$3,608,418

73

77

Q3 {2018 v 2017}

Change

Santa Barbara Q3 Market Update / Montecito / 10

at a glance {Q3 | 2018}

montecito

21

%

Change in Average Selling Price {2018 v 2017}

-39

%

Change in Units Sold {2018 v 2017}

40 Units Sold

4.3m

$

Average Selling Price

at a glance {Q3 | 2018}

santa barbara

-2

%

Change in Average Selling Price {2018 v 2017}

-6

%

Change in Units Sold {2018 v 2017}

221 Units Sold

1.2m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,300,000

240

$1,250,000

230

$1,200,000

220

$1,150,000 210 $1,100,000 200

$1,050,000 $1,000,000

190

$950,000

180

2014

2015

2016

2017

Average Selling Price

2018 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

-1%

-2%

13%

-6%

2018

$1,259,973

$1,218,140

49

221

2017

$1,270,836

$1,238,399

43

235

2016

$1,304,188

$1,267,215

47

220

2015

$1,111,829

$1,081,175

36

235

2014

$1,220,876

$1,192,633

38

203

Q3 {2018 v 2017}

Change

13

/ Santa Barbara / Santa Barbara Q3 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

2014

2015

2016

2017

Average Selling Price

2018

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

72%

75%

-49%

50%

2018

$5,430,167

$5,155,278

71

9

2017

$3,148,000

$2,943,000

138

6

2016

$3,179,957

$3,051,429

108

7

2015

$4,450,000

$4,241,458

101

5

2014

$2,674,615

$2,516,615

143

13

Q3 {2018 v 2017}

Change

Santa Barbara Q3 Market Update / Hope Ranch / 14

at a glance {Q3 | 2018}

hope ranch

75

%

Change in Average Selling Price {2018 v 2017}

50

%

Change in Units Sold {2018 v 2017}

9

Units Sold

5.2m

$

Average Selling Price

at a glance {Q3 | 2018}

goleta

3

%

Change in Average Selling Price {2018 v 2017}

9

%

Change in Units Sold {2018 v 2017}

141 Units Sold

875k

$

Average Selling Price

|

Average Selling Price Total Units Sold $900,000

250

$880,000 $860,000

200

$840,000 $820,000

150

$800,000 $780,000

100

$760,000 $740,000

50

$720,000 $700,000 $680,000

0

2014

2015

2016

2017

Average Selling Price

2018 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

3%

3%

-1%

9%

2017

$887,034

$875,477

40

141

2016

$863,089

$848,313

41

129

2015

$867,525

$853,209

33

137

2014

$815,093

$809,491

26

195

2013

$760,395

$756,287

25

150

Q3 {2018 v 2017}

Change

17

/ Goleta / Santa Barbara Q3 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

SOLVANG

California Contemporary Alisal Ranch | Offered at $1,690,000 sothebyshomes.com/0621874

SANTA YNEZ

Offered at $9,495,000 sothebyshomes.com/0621894 BUELLTON

Offered at $3,495,000 sothebyshomes.com/0621854 BUELLTON

Offered at $2,650,000 sothebyshomes.com/0621883 SANTA YNEZ

Offered at $1,495,000 sothebyshomes.com/0621891 *in order from left to right, top to bottom

sothebyshomes.com/santaynez

19

/ Featured Properties / Santa Ynez Valley Q3 Market Update

Market Snapshot

Highlight: Total Units Sold Santa Ynez Valley | Q3 2018

Highlight -units vs ASP $1.2

90 80

Buellton

Santa Ynez

Los Olivos

$1.0

Santa Ynez

70

$0.8 Ballard & Solvang

60

Los Olivos

50

Buellton

40

$0.6

Ballard & Solvang

$0.4

30 20

$0.2 10 $0.0

0

*Price in Millions

Total Units Sold 14 35 3 14

2014 2015 2016 2017 2018

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

2014

2015

2016

2017

2018

Average Selling Price Over Five Years by Area

Santa Ynez

Ballard | Solvang

Los Olivos

21

Buellton

/ Q3 Market Snapshot / Santa Ynez Valley Q3 Market Update

at a glance {Q3 | 2018}

santa ynez

4

%

Change in Average Selling Price {2018 v 2017}

-33

%

Change in Units Sold {2018 v 2017}

14 Units Sold

1.8m

$

Average Selling Price

|

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

25

$1,800,000 $1,600,000

20

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

15

$1,000,000 $800,000

10

$600,000 $400,000

5

$200,000 $0

0

2014

2015

2016

2017

Average Selling Price

2018

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

2%

4%

9%

-33%

2018

$1,869,857

$1,763,414

201

14

2017

$1,829,088

$1,702,649

185

21

2016

$1,335,000

$1,218,929

116

14

2015

$1,219,333

$1,176,611

164

9

2014

$1,661,172

$1,444,341

191

16

Q3 {2018 v 2017}

Change

23

/ Santa Ynez / Santa Ynez Valley Q3 Market Update

|

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

40 35

$1,000,000

30 $800,000

25

$600,000

20 15

$400,000

10 $200,000

5

$0

0

2014

2015

2016

2017

Average Selling Price

2018

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

13%

15%

17%

17%

2018

$905,254

$880,737

89

35

2017

$802,840

$764,571

76

30

2016

$1,111,408

$1,064,610

126

24

2015

$758,150

$718,883

62.0625

16

2014

$780,074

$731,493

211

19

Q3 {2018 v 2017}

Change

Santa Ynez Valley Q3 Market Update / Ballard | Solvang / 24

at a glance {Q3 | 2018}

ballard | solvang

15

%

Change in Average Selling Price {2018 v 2017}

17

%

Change in Units Sold {2018 v 2017}

35 Units Sold

881k

$

Average Selling Price

at a glance {Q3 | 2018}

los olivos

51

%

Change in Average Selling Price {2018 v 2017}

-50

%

Change in Units Sold {2018 v 2017}

3

Units Sold

1.9m

$

Average Selling Price

|

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

7

$1,800,000

6

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

5

$1,200,000

4

$1,000,000 $800,000

3

$600,000

2

$400,000

1

$200,000 $0

0

2014

2015

2016

2017

Average Selling Price

2018

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

49%

51%

-86%

-50%

2018

$1,976,667

$1,898,333

15

3

2017

$1,323,333

$1,257,500

111

6

2016

$814,333

$765,000

48

3

2015

$816,248

$801,125

35

4

2014

$1,089,750

$1,056,250

120

4

Q3 {2018 v 2017}

Change

27

/ Los Olivos / Santa Ynez Valley Q3 Market Update

|

Average Selling Price Total Units Sold $900,000

25

$800,000 20

$700,000 $600,000

15

$500,000 $400,000

10

$300,000 $200,000

5

$100,000 $0

0

2014

2015

2016

2017

Average Selling Price

2018 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%

4%

2%

-33%

2018

$637,618

$628,662

56

14

2017

$620,996

$605,068

55

21

2016

$866,111

$842,667

102

9

2015

$499,229

$486,171

36

14

2014

$439,257

$432,829

121

7

Q3 {2018 v 2017}

Change

Santa Ynez Valley Q3 Market Update / Buellton / 28

at a glance {Q3 | 2018}

buellton

4

%

Change in Average Selling Price {2018 v 2017}

-33

%

Change in Units Sold {2018 v 2017}

14 Units Sold

630k

$

Average Selling Price

UPCOMING AUCTIONS LOS ANGELES 8 DECEMBER ARIZONA 17–18 JANUARY PARIS 6 FEBRUARY AMELIA ISLAND 9 MARCH FORT LAUDERDALE 29–30 MARCH

1963 Aston Martin DP215 Grand Touring Competition Prototype Sold for $21,455,000 at Monterey 2018

NOW INVITING CONSIGNMENTS FOR UPCOMING AUCTIONS HEADQUARTERS +1 519 352 4575 UK +44 (0) 20 7851 7070 NEW YORK +1 212 894 1562 GERMANY +49 172 7151 251 FRANCE +33 (0) 1 76 75 32 933