Santa Barbara Region Market Update | Q4 2018

Q4 | 2018

Santa Barbara | Santa Ynez Valley

Market Update

SANTA BARBARA

Spanish Riviera Home | Offered at $2,795,000 sothebyshomes.com/0114438

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/SANTABAR BARA

MONTECITO AREA

Montecito/Summerland Polo Property | Price Upon Request

sothebyshomes.com/0632721

MONTECITO

Offered at $85,000,000 sothebyshomes.com/0113856 SANTA BARBARA

Offered at $6,000,000 sothebyshomes.com/0632759 GOLETA

Offered at $4,250,000 sothebyshomes.com/0114441 SANTA BARBARA

Offered at $2,774,000 sothebyshomes.com/0114446 *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 2018

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

$1.8

500

$1.6

450

$1.4

Goleta Montecito

Carp-Summerland $1.2

Montecito

$1.0

Santa Barbara

350

$0.8 Hope Ranch

Santa Barbara

Goleta$0.6

300

$0.4

Hope Ranch

250

$0.2

200

$0.0 *Price in Millions

Total Units Sold 48 42 174 7 123

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

400

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

/ Q4 Highlights / Santa Barbara Q4 Market Update

at a glance {Q4 | 2018}

carpinteria | summerland

-18

%

Change in Average Selling Price {2018 v 2017}

-6

%

Change in Units Sold {2018 v 2017}

48 Units Sold

1.4m

$

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

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

-15%

-18%

55%

-6%

2018

$1,511,131

$1,377,673

79

48

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

Q4 {2018 v 2017}

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

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 trees and stunning views. sothebyshomes.com/santabarbara

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

29%

26%

29%

-24%

2018

$3,495,310

$3,237,902

106

42

2017

$2,699,436

$2,566,250

82

55

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

12

40

Q4 {2018 v 2017}

Change

Santa Barbara Q4 Market Update / Montecito / 10

at a glance {Q4 | 2018}

montecito

26

%

Change in Average Selling Price {2018 v 2017}

-24

%

Change in Units Sold {2018 v 2017}

42 Units Sold

3.2m

$

Average Selling Price

at a glance {Q4 | 2018}

santa barbara

7

%

Change in Average Selling Price {2018 v 2017}

-14

%

Change in Units Sold {2018 v 2017}

174 Units Sold

1.4m

$

Average Selling Price

|

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

250

$1,400,000 200

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

150

$800,000 100

$600,000 $400,000

50

$200,000 $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%

7%

-4%

-14%

2018

$1,396,833

$1,358,699

52

174

2017

$1,299,864

$1,267,855

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

Q4 {2018 v 2017}

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

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

5%

16%

-34%

-46%

2018

$5,759,286

$5,537,814

115

7

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

Q4 {2018 v 2017}

Change

Santa Barbara Q4 Market Update / Hope Ranch / 14

at a glance {Q4 | 2018}

hope ranch

16

%

Change in Average Selling Price {2018 v 2017}

-46

%

Change in Units Sold {2018 v 2017}

7

Units Sold

5.5m

$

Average Selling Price

at a glance {Q4 | 2018}

goleta

-14

%

Change in Average Selling Price {2018 v 2017}

4

%

Change in Units Sold {2018 v 2017}

123 Units Sold

900k

$

Average Selling Price

|

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

130

$1,000,000

125

$800,000

120

$600,000 115

$400,000

110

$200,000 $0

105

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

-14%

-14%

-20%

4%

2018

$898,871

$878,741

36

123

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

Q4 {2018 v 2017}

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

BUELLTON

Robléon | Offered at $2,495,000 sothebyshomes.com/0621883

LOS ALAMOS

Offered at $9,900,000 sothebyshomes.com/0621880 SANTA YNEZ

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

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

Offered at $2,575,000 sothebyshomes.com/0621895 *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 2018

Highlight -units vs ASP $1.2 $1.0

Santa Ynez

Buellton

$0.8

80 70

Santa Ynez Ballard & Solvang Los Olivos

$0.6

Ballard & Solvang

Buellton

50 40 30

$0.4

Los Olivos

20 $0.2

10

$0.0 *Price in Millions

Total Units Sold 10 13 3 13

60

0

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

/ Q4 Market Snapshot / Santa Ynez Valley Q4 Market Update

at a glance {Q4 | 2018}

santa ynez

-18

%

Change in Average Selling Price {2018 v 2017}

-62

%

Change in Units Sold {2018 v 2017}

10 Units Sold

1.1m

$

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

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

-18%

-18%

146%

-62%

2018

$1,211,100

$1,107,700

187

10

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

Q4 {2018 v 2017}

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

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

-12%

-9%

110%

-41%

2018

$875,308

$841,615

164

13

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

Q4 {2018 v 2017}

Change

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

at a glance {Q4 | 2018}

ballard | solvang

-9

%

Change in Average Selling Price {2018 v 2017}

-41

%

Change in Units Sold {2018 v 2017}

13 Units Sold

800k

$

Average Selling Price

at a glance {Q4 | 2018}

los olivos

21

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

3

Units Sold

1m

$

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

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

36%

21%

12%

0%

2018

$1,154,667

$990,000

167

3

2017

$847,667

$818,333

149

3

2016

$1,122,225

$1,079,250

115

4

2015

$1,410,000

$1,355,000

121

2

2014

$639,667

$601,833

22

3

Q4 {2018 v 2017}

Change

27

/ Los Olivos / Santa Ynez Valley Q4 Market Update

|

Average Selling Price Total Units Sold $700,000

18 16

$600,000

14

$500,000

12

$400,000

10

$300,000

8 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

-5%

-5%

-11%

-24%

2018

$589,115

$580,595

50

13

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

Q4 {2018 v 2017}

Change

Santa Ynez Valley Q4 Market Update / Buellton / 28

at a glance {Q4 | 2018}

buellton

-5

%

Change in Average Selling Price {2018 v 2017}

-24

%

Change in Units Sold {2018 v 2017}

13 Units Sold

600k

$

Average Selling Price

PHOTO BY PAUL VAN COTTHEM ON UNSPLASH

w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com

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