Q2 2020 | Santa Barbara & Santa Ynez Valley Region Market Update

Q2 | 2020

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

Iconic Masterwork by Barton Myers Offered at $8,200,000 | 949ToroCanyon.com

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.

a message from

Michael Cohen

Vice President, Brokerage Manager

As we continue to navigate these unprecedented times, the health and safety of our community is our top priority. We quickly adapted to conduct business and support our clients looking to buy, sell or rent homes by virtual technology.

We invite you to review a summary of sales activity in the Santa Barbara and Santa Ynez Region during the second quarter of 2020, based on closed production from April - June 2020. The Santa Barbara MLS and North Santa Barbara County MLS report the following market data for this quarter, which is compared here for the same period of 2019.

Closed sales from the second quarter do not tell a complete story regarding the housing recovery in Santa Barbara and Santa Ynez Region. Heading into the third quarter, we wanted to bring your attention to additional positive indicators: - Santa Barbara’s average sales price remained consistent at $1.3M in Q2 2020 compared to Q2 2019 - The average sales price in Montecito rose 7%, from $4.3M in Q2 2019 to $4.7M in Q2 2020 - The average selling price in Santa Ynez increased 98% year over year, from $1.1M to $2.2M Like always, we are committed to providing the highest quality service and will to continue to support our clients with a suite of virtual marketing tools that are proving effective with buyers today.

We hope you find this market report to be a valuable resource and we look forward to working with you to meet your real estate needs. If you have any questions about the Santa Barbara and Santa Ynez Region market, please do not hesitate to reach out to me or any of our associates at 805.969.9993.

dre

email

phone

1161377

Michael.Cohen@sothebyshomes.com

805 969 9993

Santa Barbara sothebysrealty.com

Santa Ynez Valley sothebysrealty.com

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 Ssothebysrealty.com OT HEBYSHO M ES.C O M /SA NTA BA R BA RA

MONTECITO

Beachfront Contemporary Offered at $9,975,000 | 1811FernaldPoint.com

MONTECITO

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

Offered at $9,850,000 1954EastValleyRd.com MONTECITO

Offered at $5,785,000 2222EVR.com SANTA BARBARA

Offered at $4,995,000 1301WestMountain.com *in order from left to right, top to bottom

sothebysrealty.com

7

/ Santa Barbara Featured Properties / Santa Barbara Q2 Market Update

Market Snapshot

Santa Barbara | Q2 2020

Highlight: Total Units Sold Highlight -units vs ASP

Carpinteria & Summerland $2.0

600

$1.8

550

$1.6

Goleta

Carp-Summerland $1.4 Montecito

Hope Ranch

$1.2 to Monteci

450

$1.0Barbara Santa

400

$0.8 Hope Ranch

350

$0.6 Goleta

300

$0.4

Santa Barbara

250

$0.2 $0.0

200

*Price in Millions

Total Units Sold 27 63 127 7 87

2016 2017 2018 2019 2020

Average Selling Price vs. Total Units Sold

Carpinteria | Summerland

Average Selling Price

Montecito

Total Units Sold

Santa Barbara Hope Ranch Goleta

500

Five Year Comparison

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

$7 $6 $5 $4 $3 $2 $1 $0 *Price in Millions

2016

2017

2018

2019

2020

Average Selling Price Over Five Years by Area

Carpinteria | Summerland

Montecito

Santa Barbara

Hope Ranch

9

Goleta

/ Q2 Market Snapshot / Santa Barbara Q2 Market Update

at a glance {Q2 | 2020}

carpinteria | summerland

-56

%

Change in Average Selling Price {2020 v 2019}

-46

%

Change in Units Sold {2020 v 2019}

27 Units Sold

800k

$

Average Selling Price

|

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

70

$1,800,000

60

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

50

$1,200,000

40

$1,000,000 $800,000

30

$600,000

20

$400,000

10

$200,000 $0

0

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-59%

-56%

-74%

-46%

2020

$788,853

$761,931

27

27

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

Q2 {2020 v 2019}

Change

11

/ 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

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

10%

7%

46%

53%

2020

$4,677,095

$4,251,829

127

49

2019

$4,269,941

$3,976,387

87

32

2018

$3,371,329

$3,169,070

103

38

2017

$3,744,344

$3,513,939

117

46

2016

$3,633,982

$3,448,892

117

63

Q2 {2020 v 2019}

Change

Santa Barbara Q2 Market Update / Montecito / 12

at a glance {Q2 | 2020}

montecito

7

%

Change in Average Selling Price {2020 v 2019}

-7

%

Change in Units Sold {2020 v 2019}

63 Units Sold

4.3m

$

Average Selling Price

at a glance {Q2 | 2020}

santa barbara

0

%

Change in Average Selling Price {2020 v 2019}

-43

%

Change in Units Sold {2020 v 2019}

127 Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,320,000

300

$1,300,000

250

$1,280,000

200

$1,260,000 150 $1,240,000 100

$1,220,000 $1,200,000

50

$1,180,000

0

2016

2017

2018

2019

Average Selling Price

2020 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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

0%

0%

-38%

-43%

2020

$1,332,109

$1,291,277

37

127

2019

$1,328,831

$1,293,278

60

224

2018

$1,319,921

$1,293,263

39

233

2017

$1,326,589

$1,299,297

54

254

2016

$1,256,069

$1,222,900

45

237

Q2 {2020 v 2019}

Change

15

/ 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

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-7%

-13%

31%

-42%

2020

$4,247,714

$3,670,198

144

7

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

Q2 {2020 v 2019}

Change

Santa Barbara Q2 Market Update / Hope Ranch / 16

at a glance {Q2 | 2020}

hope ranch

-13

%

Change in Average Selling Price {2020 v 2019}

-42

%

Change in Units Sold {2020 v 2019}

7

Units Sold

3.7m

$

Average Selling Price

at a glance {Q2 | 2020}

goleta

-8

%

Change in Average Selling Price {2020 v 2019}

-42

%

Change in Units Sold {2020 v 2019}

87 Units Sold

900k

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,050,000

180 160

$1,000,000

140

$950,000

120 100

$900,000

80

$850,000

60 40

$800,000

20

$750,000

0

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-7%

-8%

19%

-42%

2020

$929,981

$911,107

36

87

2019

$1,002,420

$991,765

30

149

2018

$902,189

$895,835

32

153

2017

$1,020,034

$978,216

33

162

2016

$869,250

$854,884

25

141

Q2 {2020 v 2019}

Change

19

/ Goleta / Santa Barbara Q2 Market Update

SANTA YNEZ VALLEY

Featured Properties We invite you to explore our exclusive offerings at

sothebysrealty.com

SANTA YNEZ

Quail H Ranch Offered at $12,900,000 | 1162AlisosRoad.com

SANTA YNEZ

Offered at $7,999,000 5999FoxenCanyon.com SOLVANG

Offered at $3,850,000 2109RandomOaks.com SOLVANG

Offered at $1,300,000 950AlamoPintadoRoad.com

SANTA YNEZ

Offered at $800,000 BrinkerhoffAvenueLand.com *in order from left to right, top to bottom

sothebysrealty.com

21

/ Santa Ynez Valley Featured Properties / Santa Ynez Valley Q2 Market Update

Market Snapshot

Santa YnezTotal Valley |Units Q2 2020Sold Highlight:

Highlight -units vs ASP

$1.4

Buellton

$1.2

Santa Ynez $1.0

100 90

Santa Ynez Ballard & Solvang Los Olivos

$0.8

Buellton

$0.6

Los Olivos

10 0

2016 2017 2018 2019 2020

Average Selling Price vs. Total Units Sold

Santa Ynez

Average Selling Price

Ballard | Solvang

Total Units Sold

Los Olivos Buellton

50

20 $0.2

*Price in Millions

17 18 1 15

60

30

$0.0

Total Units Sold

70

40

$0.4

Ballard & Solvang

80

Five Year Comparison Santa Ynez Valley

$3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0 *Price in Millions

2016

2017

2018

2019

2020

Average Selling Price Over Five Years by Area

Santa Ynez

Ballard | Solvang

Los Olivos

23

Buellton

/ Q2 Market Snapshot / Santa Ynez Valley Q2 Market Update

at a glance {Q2 | 2020}

santa ynez

98

%

Change in Average Selling Price {2020 v 2019}

-15

%

Change in Units Sold {2020 v 2019}

17 Units Sold

2.2m

$

Average Selling Price

|

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

30

$2,500,000

25

$2,000,000

20

$1,500,000

15

$1,000,000

10

$500,000

5

$0

0

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

123%

98%

135%

-15%

2020

$2,627,106

$2,216,159

160

17

2019

$1,178,200

$1,121,288

68

20

2018

$1,959,040

$1,847,575

144

25

2017

$1,590,409

$1,478,375

136

22

2016

$2,741,545

$2,611,182

227

22

Q2 {2020 v 2019}

Change

25

/ Santa Ynez / Santa Ynez Valley Q2 Market Update

|

Average Selling Price Total Units Sold $960,000

50

$940,000

45 40

$920,000

35

$900,000

30

$880,000

25

$860,000

20 15

$840,000

10

$820,000

5

$800,000

0

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-2%

-3%

12%

-56%

2020

$976,111

$913,198

131

18

2019

$996,093

$945,105

117

41

2018

$891,420

$851,533

102

44

2017

$915,511

$875,638

129

40

2016

$964,918

$920,289

109

41

Q2 {2020 v 2019}

Change

Santa Ynez Valley Q2 Market Update / Ballard | Solvang / 26

at a glance {Q2 | 2020}

ballard | solvang

-3

%

Change in Average Selling Price {2020 v 2019}

-56

%

Change in Units Sold {2020 v 2019}

18 Units Sold

900k

$

Average Selling Price

at a glance {Q2 | 2020}

los olivos

-31

%

Change in Average Selling Price {2020 v 2019}

-67

%

Change in Units Sold {2020 v 2019}

1

Units Sold

600k

$

Average Selling Price

|

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

8

$1,400,000

7

$1,200,000

6

$1,000,000

5

$800,000

4

$600,000

3

$400,000

2

$200,000

1

$0

0

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-16%

-31%

-18%

-67%

2020

$795,000

$603,000

114

1

2019

$942,667

$870,417

139

3

2018

$927,500

$911,250

49

2

2017

$1,498,571

$1,436,071

63

7

2016

$980,000

$980,000

153

1

Q2 {2020 v 2019}

Change

29

/ 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

2016

2017

2018

2019

Average Selling Price

2020

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. sothebysrealty.com

Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

45%

44%

12%

-21%

2020

$800,327

$764,260

93

15

2019

$551,021

$531,941

83

19

2018

$814,694

$796,412

99

17

2017

$775,619

$754,225

61

20

2016

$642,056

$616,556

105

18

Q2 {2020 v 2019}

Change

Santa Ynez Valley Q2 Market Update / Buellton / 30

at a glance {Q2 | 2020}

buellton

44

%

Change in Average Selling Price {2020 v 2019}

-21

%

Change in Units Sold {2020 v 2019}

15 Units Sold

800k

$

Average Selling Price

PHOTO BY GIAMMARCO BOSCARO 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

AUCTION • RETAIL • ADVISORY New York Hong Kong London

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