Santa Barbara Region Market Update | Q1 2018

Q1 | 2018

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

Italian Vineyard Estate | Offered at $12,500,000 sothebyshomes.com/0113996

Our gratitude for all of our first responders and emergency personnel will never cease. The beauty of our community expands far beyond the natural landscape and it is what makes this incredible place our home. #MONTECITOSTRONG

a message from

Dave Osman

Santa Barbara Region Vice President & Brokerage Manager This past quarter has proven to be challenging for many unforeseen reasons. The Thomas Fire swept through the hills burning structures and decimating the flora. Unprecedented rainfall following the Thomas Fire triggered mud and debris flows, causing immense devastation and destruction to our beautiful community. The Sotheby’s International Realty - Montecito, Santa Barbara, and Santa Ynez Valley offices stepped in to action with agents who volunteered at donation centers, gathered supplies and distributed to those in need. We stand Montecito Strong with our community and hope all those effected will find solidarity as we rebuild and begin a new chapter.

I hope that you find the information in our quarterly update useful to make an informed decision in the purchase or sale of your next home. I invite you to discover more information online at sothebyshomes.com. If Sotheby’s International Realty can be of service to you, please call me at 805.565.8655, so that I may personally introduce you to a local expert.

dre

email

phone

636086

dave.osman@sothebyshomes.com

805 565 8655

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 OT HE BYSH O MES.COM/SANTABAR BARA

MONTECITO

Casa Cielo | Offered at $9,950,000 sothebyshomes.com/0114240

MISSION CANYON

Offered at $7,900,000 sothebyshomes.com/0593164 MONTECITO UPPER VILLAGE

Offered at $7,500,000 sothebyshomes.com/0114157 HOPE RANCH

Offered at $4,150,000 sothebyshomes.com/0114312 WEST BEACH

Offered at $2,100,000 sothebyshomes.com/0114333 *in order from left to right, top to bottom

sothebyshomes.com/santabarbara

7

/ Santa Barbara Featured Properties / Santa Barbara Q1 Market Update

Market Snapshot Santa Barbara | Q1 2018

Highlight: Total Units Sold Highlight -units vs ASP

Carpinteria & Summerland $1.8

450

$1.6

Goleta

Montecito

400

$1.4

Carp-Summerland $1.2

Montecito

350

$1.0

Santa Barbara $0.8

Hope Ranch

Hope Ranch

300

$0.6

Santa Barbara

Goleta

$0.4

250

$0.2 $0.0 *Price in Millions

Total Units Sold 30 38 163 16 92

200

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

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

9

Goleta

/ Q1 Highlights / Santa Barbara Q1 Market Update

at a glance {Q1 | 2018}

carpinteria | summerland

-25

%

Change in Average Selling Price {2018 v 2017}

-42

%

Change in Units Sold {2018 v 2017}

30 Units Sold

900k

$

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

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

-25%

-25%

2%

-42%

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

2014

$1,259,781

$1,221,883

69

26

Q1 {2018 v 2017}

Change

11

/ Carpinteria | Summerland / Santa Barbara Q1 Market Update

|

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

70

$4,500,000

60

$4,000,000 $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

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

9%

9%

-1%

-17%

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

2014

$3,092,399

$2,868,278

110

43

Q1 {2018 v 2017}

Change

Santa Barbara Q1 Market Update / Montecito / 12

at a glance {Q1 | 2018}

montecito

9

%

Change in Average Selling Price {2018 v 2017}

-17

%

Change in Units Sold {2018 v 2017}

38 Units Sold

3.8m

$

Average Selling Price

at a glance {Q1 | 2018}

santa barbara

9

%

Change in Average Selling Price {2018 v 2017}

-1

%

Change in Units Sold {2018 v 2017}

163 Units Sold

1.3m

$

Average Selling Price

|

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

200 180

$1,200,000

160

$1,000,000

140

$800,000

120 100

$600,000

80

$400,000

60 40

$200,000

20

$0

0

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

7%

9%

-29%

-1%

2018

$1,340,706

$1,315,781

43

163

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

2014

$1,108,148

$1,080,725

51

148

Q1 {2018 v 2017}

Change

15

/ Santa Barbara / Santa Barbara Q1 Market Update

|

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

18 16

$5,000,000

14

$4,000,000

12 10

$3,000,000

8

$2,000,000

6 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

44%

41%

3%

7%

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

2014

$4,161,000

$3,967,688

60

8

Q1 {2018 v 2017}

Change

Santa Barbara Q1 Market Update / Hope Ranch / 16

at a glance {Q1 | 2018}

hope ranch

41

%

Change in Average Selling Price {2018 v 2017}

7

%

Change in Units Sold {2018 v 2017}

16 Units Sold

4.1m

$

Average Selling Price

at a glance {Q1 | 2018}

goleta

1

%

Change in Average Selling Price {2018 v 2017}

-20

%

Change in Units Sold {2018 v 2017}

92 Units Sold

900k

$

Average Selling Price

|

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

140

$900,000

120

$800,000 $700,000

100

$600,000

80

$500,000 $400,000

60

$300,000

40

$200,000

20

$100,000 $0

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

-1%

1%

-11%

-20%

2017

$873,658

$864,935

44

92

2016

$880,344

$859,968

50

115

2015

$709,681

$697,307

34

91

2014

$771,525

$755,031

49

102

2013

$701,424

$688,552

34

95

Q1 {2018 v 2017}

Change

19

/ 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/SANTAYNE Z

SANTA YNEZ

Fox Hill Farm, Happy Canyon | Offered at $5,850,000 sothebyshomes.com/0621846

SANTA YNEZ

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

Offered at $4,600,000 sothebyshomes.com/0621739 BUELLTON

Offered at $3,548,200 sothebyshomes.com/0621854 SANTA YNEZ

Offered at $1,595,000 sothebyshomes.com/ 0621842 *in order from left to right, top to bottom

sothebyshomes.com/santaynez

21

/ Featured Properties / Santa Ynez Valley Q1 Market Update

Market Snapshot

Highlight: Total Units Sold Santa Ynez Valley | Q1 2018

Highlight -units vs ASP

Buellton

60

$1.0

50

Santa Ynez Santa Ynez

Los Olivos

$1.2

$0.8

$0.6

Ballard & Solvang

18 24 1 12

Los Olivos Buellton

$0.2

10

$0.0

0

2014 2015 2016 2017 2018

Average Selling Price vs. Total Units Sold Average Selling Price

Ballard | Solvang

Total Units Sold

Buellton

30

20

Santa Ynez Los Olivos

40

$0.4

*Price in Millions

Total Units Sold

Ballard & Solvang

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

23

Buellton

/ Q1 Market Snapshot / Santa Ynez Valley Q1 Market Update

at a glance {Q1 | 2018}

santa ynez

25

%

Change in Average Selling Price {2018 v 2017}

64

%

Change in Units Sold {2018 v 2017}

18 Units Sold

1.6m

$

Average Selling Price

|

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

20

$1,600,000

18

$1,400,000

16 14

$1,200,000

12

$1,000,000

10

$800,000

8

$600,000

6

$400,000

4

$200,000

2

$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

21%

25%

-37%

64%

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

2014

$1,391,857

$1,296,643

51

7

Q1 {2018 v 2017}

Change

25

/ Santa Ynez / Santa Ynez Valley Q1 Market Update

|

Average Selling Price Total Units Sold

$1,200,000

30

$1,000,000

25

$800,000

20

$600,000

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

7%

8%

-38%

0%

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

2014

$828,273

$769,000

125

11

Q1 {2018 v 2017}

Change

Santa Ynez Valley Q1 Market Update / Ballard | Solvang / 26

at a glance {Q1 | 2018}

ballard | solvang

8

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

24 Units Sold

1m

$

Average Selling Price

at a glance {Q1 | 2018}

los olivos

-39

%

Change in Average Selling Price {2018 v 2017}

-50

%

Change in Units Sold {2018 v 2017}

1

Units Sold

600k

$

Average Selling Price

|

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

6

$1,200,000

5

$1,000,000

4

$800,000 3 $600,000 2

$400,000 $200,000

1

$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

-34%

-39%

200%

-50%

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

2014

$619,000

$619,000

9

1

Q1 {2018 v 2017}

Change

29

/ 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

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

-29%

-26%

-17%

100%

2018

$564,190

$557,792

126

12

2017

$790,325

$749,250

151

6

2016

$476,357

$469,464

104

14

2015

$368,150

$357,550

64

10

2014

$465,625

$460,625

61

8

Q1 {2018 v 2017}

Change

Santa Ynez Valley Q1 Market Update / Buellton / 30

at a glance {Q1 | 2018}

buellton

-26

%

Change in Average Selling Price {2018 v 2017}

100

%

Change in Units Sold {2018 v 2017}

12 Units Sold

600k

$

Average Selling Price

April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.

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