Santa Barbara Region Market Update | Q2 2018

Q2 | 2018

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

Classical Style Meets California Comfort | Offered at $47,000,000 sothebyshomes.com/0114372

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 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 OT HE BYSH O MES.COM/SANTABAR BARA

MONTECITO

An Artful Contemporary | Offered at $5,300,000 sothebyshomes.com/0114366

MONTECITO

Offered at $7,475,000 sothebyshomes.com/0114337 SANTA BARBARA

Offered at $5,995,000 sothebyshomes.com/0114380 SANTA BARBARA

Offered at $4,885,000 sothebyshomes.com/0114305 SANTA BARBARA

Offered at $1,380,000 sothebyshomes.com/0114302 *in order from left to right, top to bottom

sothebyshomes.com/santabarbara

5

/ Santa Barbara Featured Properties / Santa Barbara Q2 Market Update

Market Snapshot

Highlight: Total| Q2Units Sold Santa Barbara 2018 Highlight -units vs ASP Carpinteria & Summerland

Goleta

Montecito

Santa Barbara Hope Ranch

$1.5

600

Carp-Summerland $1.5

550

Montecito

500

Santa $1.4Barbara

450

Hope Ranch

400

Goleta $1.4

350 300

$1.3

250 $1.3 *Price in Millions

Total Units Sold 61 38 233 9 152

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

$7 $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

/ Q2 Highlights / Santa Barbara Q2 Market Update

at a glance {Q2 | 2018}

carpinteria | summerland

-18

%

Change in Average Selling Price {2018 v 2017}

24

%

Change in Units Sold {2018 v 2017}

60 Units Sold

1m

$

Average Selling Price

|

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

80

$1,600,000

70

$1,400,000

60

$1,200,000

50

$1,000,000

40

$800,000

30

$600,000 $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

-19%

-18%

-31%

24%

2018

$1,024,736

$983,065

42

61

2017

$1,268,353

$1,205,219

61

49

2016

$1,037,006

$1,000,169

47

66

2015

$879,323

$859,219

51

72

2014

$1,631,904

$1,525,136

35

50

Q2 {2018 v 2017}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q2 Market Update

|

Average Selling Price Total Units Sold $3,800,000

80

$3,700,000

70

$3,600,000

60

$3,500,000 $3,400,000

50

$3,300,000

40

$3,200,000

30

$3,100,000

20

$3,000,000 $2,900,000

10

$2,800,000

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

-10%

-10%

-12%

-42%

2018

$3,371,329

$3,169,070

103

38

2017

$3,744,344

$3,513,939

117

66

2016

$3,633,982

$3,448,892

117

55

2015

$3,963,701

$3,718,629

64

67

2014

$4,083,912

$3,742,004

83

68

Q2 {2018 v 2017}

Change

Santa Barbara Q2 Market Update / Montecito / 10

at a glance {Q2 | 2018}

montecito

-10

%

Change in Average Selling Price {2018 v 2017}

-42

%

Change in Units Sold {2018 v 2017}

38 Units Sold

3.2m

$

Average Selling Price

at a glance {Q2 | 2018}

santa barbara

0

%

Change in Average Selling Price {2018 v 2017}

-8

%

Change in Units Sold {2018 v 2017}

233 Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,350,000

260 255

$1,300,000

250 245

$1,250,000

240 235

$1,200,000

230 225

$1,150,000

220 $1,100,000

215

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

0%

0%

-28%

-8%

2018

$1,322,431

$1,295,877

39

233

2017

$1,326,589

$1,299,297

54

254

2016

$1,256,069

$1,222,900

45

237

2015

$1,209,249

$1,175,868

48

256

2014

$1,195,462

$1,171,269

40

229

Q2 {2018 v 2017}

Change

13

/ Santa Barbara / Santa Barbara Q2 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

150%

144%

162%

13%

2018

$6,322,222

$5,794,222

207

9

2017

$2,526,125

$2,374,275

79

8

2016

$2,836,444

$2,651,667

112

9

2015

$4,314,909

$4,016,500

82

11

2014

$2,698,667

$2,554,722

128

9

Q2 {2018 v 2017}

Change

Santa Barbara Q2 Market Update / Hope Ranch / 14

at a glance {Q2 | 2018}

hope ranch

144

%

Change in Average Selling Price {2018 v 2017}

13

%

Change in Units Sold {2018 v 2017}

9

Units Sold

5.8m

$

Average Selling Price

at a glance {Q2 | 2018}

goleta

-8

%

Change in Average Selling Price {2018 v 2017}

-6

%

Change in Units Sold {2018 v 2017}

152 Units Sold

900k

$

Average Selling Price

|

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

180 160

$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

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

-11%

-8%

-4%

-6%

2017

$903,256

$896,621

32

152

2016

$1,020,034

$978,216

33

162

2015

$869,250

$854,884

25

141

2014

$755,434

$753,350

27

169

2013

$766,436

$757,087

34

140

Q2 {2018 v 2017}

Change

17

/ Goleta / Santa Barbara Q2 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 $4,250,000 sothebyshomes.com/0621868 BUELLTON

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

Offered at $1,349,000 sothebyshomes.com/0621869 SOLVANG

Offered at $795,000 sothebyshomes.com/0621794 *in order from left to right, top to bottom

sothebyshomes.com/santaynez

19

/ Featured Properties / Santa Ynez Valley Q2 Market Update

Market Snapshot

Highlight: Total Units Sold Santa Ynez Valley | Q2 2018

Highlight -units vs ASP

Buellton Los Olivos Santa Ynez

$1.4

80

$1.2

70

$1.0 $0.8

21 37 2 12

Ballard & Solvang

50

Buellton

$0.4

20

$0.2

10

$0.0

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

40 30

*Price in Millions

Total Units Sold

60

Los Olivos

$0.6

Ballard & Solvang

Santa Ynez

Five Year Comparison Santa Ynez Valley

$2.5

$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

/ Q2 Market Snapshot / Santa Ynez Valley Q2 Market Update

at a glance {Q2 | 2018}

santa ynez

41

%

Change in Average Selling Price {2018 v 2017}

24

%

Change in Units Sold {2018 v 2017}

21 Units Sold

2.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $2,500,000

25

$2,000,000

20

$1,500,000

15

$1,000,000

10

$500,000

5

$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

39%

41%

56%

24%

2018

$2,399,000

$2,251,970

175

21

2017

$1,731,824

$1,601,309

112

17

2016

$1,700,912

$1,529,353

159

17

2015

$1,720,844

$1,609,073

173

16

2014

$1,475,667

$1,438,333

130

6

Q2 {2018 v 2017}

Change

23

/ Santa Ynez / Santa Ynez Valley Q2 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

-9%

-8%

-31%

37%

2018

$963,689

$922,445

90

37

2017

$1,058,317

$1,005,464

130

27

2016

$1,114,223

$1,060,461

78

25

2015

$730,346

$690,415

87

13

2014

$658,500

$642,055

99

15

Q2 {2018 v 2017}

Change

Santa Ynez Valley Q2 Market Update / Ballard | Solvang / 24

at a glance {Q2 | 2018}

ballard | solvang

-8

%

Change in Average Selling Price {2018 v 2017}

37

%

Change in Units Sold {2018 v 2017}

37 Units Sold

900k

$

Average Selling Price

at a glance {Q2 | 2018}

los olivos

-40

%

Change in Average Selling Price {2018 v 2017}

-67

%

Change in Units Sold {2018 v 2017}

2

Units Sold

900k

$

Average Selling Price

|

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

7

$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

-40%

-40%

-41%

-67%

2018

$927,500

$911,250

35

2

2017

$1,549,167

$1,508,250

59

6

2016

$980,000

$980,000

44

1

2015

$876,000

$833,000

78

4

2014

$1,524,333

$1,447,333

124

3

Q2 {2018 v 2017}

Change

27

/ Los Olivos / Santa Ynez Valley Q2 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

-24%

-23%

19%

-43%

2018

$596,400

$593,667

69

12

2017

$788,043

$767,869

58

21

2016

$616,750

$600,667

98

12

2015

$458,813

$450,813

57

8

2014

$940,033

$828,955

154

12

Q2 {2018 v 2017}

Change

Santa Ynez Valley Q2 Market Update / Buellton / 28

at a glance {Q2 | 2018}

buellton

-23

%

Change in Average Selling Price {2018 v 2017}

-43

%

Change in Units Sold {2018 v 2017}

12 Units Sold

600k

$

Average Selling Price

UPCOMING AUCTIONS MONTEREY 24-25 AUGUST AUBURN FALL 30 AUGUST-2 SEPTEMBER HERSHEY 11-12 OCTOBER THE PORSCHE 70TH ANNIVERSARY SALE 27 OCTOBER LOS ANGELES 8 DECEMBER

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