Q2 2019 | Santa Barbara & Santa Ynez Region Market Update

Q2 | 2019

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

French Country Estate at Butterfly Beach Offered at $5,495,000 | 1164Hill.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 east valley road

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/ SAN TABARBARA

SANTA BARBARA

Tuscan-Style Home with Panoramic Views | Offered at $3,299,000 2885SpyglassRidge.com

MONTECITO

Offered at $75,000,000 RanchoSanCarlosEstate.com MONTECITO

Offered at $8,900,000 355OrtegaRidge.com MONTECITO

Offered at $3,750,000 238MiramarAve.com MONTECITO

Offered at $2,995,000 2891HiddenValleyLane.com *in order from left to right, top to bottom

sothebyshomes.com/santabarbara

5

/ Santa Barbara Featured Properties / Santa Barbara Q2 Market Update

Market Snapshot Santa Barbara | Q2 2019

Highlight: Total Units Sold Highlight -units vs ASP

Carpinteria & Summerland

Goleta

$1.8

600

$1.6

550

$1.4

Montecito

Carp-Summerland

500

Montecito

450

Santa Barbara

400

Hope Ranch

350

$1.2

$1.0

$0.8

$0.6

Santa Barbara Hope Ranch

Goleta $0.2

250

$0.0

200

*Price in Millions

Total Units Sold 50 68 221 12 146

300

$0.4

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

/ Q2 Market Snapshot / Santa Barbara Q2 Market Update

at a glance {Q2 | 2019}

carpinteria | summerland

78

%

Change in Average Selling Price {2019 v 2018}

-19

%

Change in Units Sold {2019 v 2018}

50 Units Sold

1.7m

$

Average Selling Price

|

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

80

$1,800,000

70

$1,600,000

60

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

50

$1,000,000

40

$800,000

30

$600,000

20

$400,000

10

$200,000 $0

0

2015

2016

2017

2018

Average Selling Price

2019

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

87%

78%

148%

-19%

2019

$1,917,101

$1,749,842

104

50

2018

$1,024,256

$982,613

42

62

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

Q2 {2019 v 2018}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q2 Market Update

|

Average Selling Price Total Units Sold $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

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

27%

25%

-16%

79%

2019

$4,269,941

$3,976,387

87

68

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

Q2 {2019 v 2018}

Change

Santa Barbara Q2 Market Update / Montecito / 10

at a glance {Q2 | 2019}

montecito

25

%

Change in Average Selling Price {2019 v 2018}

79

%

Change in Units Sold {2019 v 2018}

68 Units Sold

4

$ m Average Selling Price

at a glance {Q2 | 2019}

santa barbara

0

%

Change in Average Selling Price {2019 v 2018}

-6

%

Change in Units Sold {2019 v 2018}

221 Units Sold

1.3m

$

Average Selling Price

|

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

260 250

$1,300,000

240

$1,250,000

230 $1,200,000

220

$1,150,000

210

$1,100,000

200

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

1%

0%

50%

-6%

2019

$1,333,525

$1,297,883

58

221

2018

$1,322,400

$1,295,856

39

234

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

Q2 {2019 v 2018}

Change

13

/ Santa Barbara / Santa Barbara Q2 Market Update

|

Average Selling Price Total Units Sold $7,000,000

14

$6,000,000

12

$5,000,000

10

$4,000,000

8

$3,000,000

6

$2,000,000

4

$1,000,000

2

$0

0

2015

2016

2018

2017

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

-28%

-27%

-47%

33%

2019

$4,571,500

$4,212,138

110

12

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

Q2 {2019 v 2018}

Change

Santa Barbara Q2 Market Update / Hope Ranch / 14

at a glance {Q2 | 2019}

hope ranch

-27

%

Change in Average Selling Price {2019 v 2018}

33

%

Change in Units Sold {2019 v 2018}

12 Units Sold

4.2m

$

Average Selling Price

at a glance {Q2 | 2019}

goleta

11

%

Change in Average Selling Price {2019 v 2018}

-5

%

Change in Units Sold {2019 v 2018}

146 Units Sold

1

$ m Average Selling Price

|

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

175 170

$1,000,000

165 160

$800,000

155

$600,000

150 145

$400,000

140 135

$200,000

130

$0

125

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

12%

11%

-6%

-5%

2019

$1,008,531

$997,669

30

146

2018

$902,189

$895,835

32

153

2017

$1,020,034

$978,216

33

162

2016

$869,250

$854,884

25

141

2015

$755,434

$753,350

27

169

Q2 {2019 v 2018}

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

SANTA YNEZ

Serene And Secluded | Offered at $2,350,000 4251LongValley.com

SANTA YNEZ

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

Offered at $7,998,000 7300HappyCyn.com SOLVANG

Offered at $5,495,000 FredensborgCanyonRanch.com SANTA YNEZ

Offered at $3,195,000 2840MontecieloDrive.com *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 2019

Highlight -units vs ASP $1.4

Santa Ynez

Buellton

$1.2

Santa Ynez

70

$1.0

Ballard & Solvang

60

Los Olivos

50

$0.8

Los Olivos Ballard & Solvang

80

Buellton

$0.6

30

$0.4

15 36 3 18

20

$0.2

10

$0.0

0

*Price in Millions

Total Units Sold

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

40

Five Year Comparison Santa Ynez Valley

$2.5 $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

/ Q2 Market Snapshot / Santa Ynez Valley Q2 Market Update

at a glance {Q2 | 2019}

santa ynez

-48

%

Change in Average Selling Price {2019 v 2018}

-29

%

Change in Units Sold {2019 v 2018}

15 Units Sold

1.2m

$

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

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

-49%

-48%

-69%

-29%

2019

$1,229,733

$1,163,783

55

15

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

Q2 {2019 v 2018}

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

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

13%

11%

0%

-5%

2019

$1,065,694

$1,003,057

89

36

2018

$946,618

$905,670

89

38

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

Q2 {2019 v 2018}

Change

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

at a glance {Q2 | 2019}

ballard | solvang

11

%

Change in Average Selling Price {2019 v 2018}

-5

%

Change in Units Sold {2019 v 2018}

36 Units Sold

1

$ m Average Selling Price

at a glance {Q2 | 2019}

los olivos

-4

%

Change in Average Selling Price {2019 v 2018}

50

%

Change in Units Sold {2019 v 2018}

3

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

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

2%

-4%

206%

50%

2019

$942,667

$870,417

107

3

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

Q2 {2019 v 2018}

Change

27

/ Los Olivos / Santa Ynez Valley Q2 Market Update

|

Average Selling Price Total Units Sold 25

$900,000 $800,000

20

$700,000 $600,000

15

$500,000 $400,000

10

$300,000 $200,000

5

$100,000 $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

-15%

-15%

27%

38%

2019

$504,411

$497,020

81

18

2018

$590,138

$587,615

64

13

2017

$788,043

$767,869

58

21

2016

$616,750

$600,667

98

12

2015

$458,813

$450,813

57

8

Q2 {2019 v 2018}

Change

Santa Ynez Valley Q2 Market Update / Buellton / 28

at a glance {Q2 | 2019}

buellton

-15

%

Change in Average Selling Price {2019 v 2018}

38

%

Change in Units Sold {2019 v 2018}

18 Units Sold

500k

$

Average Selling Price

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