Q3 2020 | Santa Barbara & Santa Ynez Valley Market Update

Q3 | 2020

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

World-Class Ocean View Villa 1015EMountain.com

Santa Barbara SOTHEBYSREALTY.COM

Santa Ynez Valley SOTHEBYSREALTY.COM

Montecito, Santa Barbara, and Santa Ynez Valley Brokerages MONTECITO COAST VILLAGE ROAD

805.969.9993

MONTECITO EAST VALLEY ROAD

805.969.9993

/

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

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SANTA BARBARA

Modern Single-Level Home 1301WestMountain.com

MONTECITO

La Ladera 1954EastValleyRd.com MONTECITO

Old World Mediterranean-Style 2222EVR.com MONTECITO

Quintessential Compound 650StoddardLane.com SANTA BARBARA

Ocean View Mediterranean-Style 117Crestview.com *in order from left to right, top to bottom

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/ Santa Barbara Featured Properties / Santa Barbara Q3 Market Update

Market Snapshot

Highlight: SantaTotal Barbara Units | Q3 2020Sold Highlight -units vs ASP Carpinteria & Summerland

$2.5

800

700

$2.0

Goleta

Carp-Summerland Montecito

600

Monteci$1.5 to Santa Barbara

500

$1.0

Hope Ranch

Hope Ranch

400

Goleta $0.5

300

Santa Barbara $0.0

200

*Price in Millions

Total Units Sold 74 142 291 23 174

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

Five Year Comparison

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

$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

7

Goleta

/ Q3 Market Snapshot / Santa Barbara Q3 Market Update

at a glance {Q3 | 2020}

CARPINTERIA | SUMMERLAND

-9

%

Change in Average Selling Price {2020 v 2019}

25

%

Change in Units Sold {2020 v 2019}

74 Units Sold

1.5m

$

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

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.

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Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-10%

-9%

-34%

25%

2020

$1,580,458

$1,533,178

51

74

2019

$1,761,243

$1,691,203

77

59

2018

$922,672

$893,099

92

46

2017

$1,003,577

$970,914

54

60

2016

$968,323

$916,696

64

57

Q3 {2020 v 2019}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q3 Market Update

|

Average Selling Price Total Units Sold $4,500,000

160

$4,000,000

140

$3,500,000

120

$3,000,000

100

$2,500,000

80

$2,000,000

60

$1,500,000 $1,000,000

40

$500,000

20

$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.

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Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

-13%

-12%

-5%

137%

2020

$3,904,569

$3,736,377

78

142

2019

$4,497,717

$4,229,259

82

60

2018

$4,591,573

$4,196,080

56

41

2017

$3,868,496

$3,540,091

122

66

2016

$3,149,419

$2,904,790

103

59

Q3 {2020 v 2019}

Change

Santa Barbara Q3 Market Update / Montecito / 10

at a glance {Q3 | 2020}

MONTECITO

-12

%

Change in Average Selling Price {2020 v 2019}

137

%

Change in Units Sold {2020 v 2019}

142 Units Sold

3.7m

$

Average Selling Price

at a glance {Q3 | 2020}

SANTA BARBARA

18

%

Change in Average Selling Price {2020 v 2019}

35

%

Change in Units Sold {2020 v 2019}

291 Units Sold

1.5m

$

Average Selling Price

|

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

350

$1,400,000

300

$1,200,000

250

$1,000,000

200

$800,000 150

$600,000

100

$400,000

50

$200,000 $0

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.

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Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

16%

18%

-5%

35%

2020

$1,493,467

$1,474,091

41

291

2019

$1,291,465

$1,254,186

43

216

2018

$1,255,735

$1,214,177

48

223

2017

$1,270,836

$1,238,399

43

235

2016

$1,304,188

$1,267,215

47

220

Q3 {2020 v 2019}

Change

13

/ Santa Barbara / Santa Barbara Q3 Market Update

|

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

25

$5,000,000

20

$4,000,000

15

$3,000,000 10

$2,000,000

5

$1,000,000 $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.

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Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

12%

10%

74%

130%

2020

$4,557,609

$4,182,333

115

23

2019

$4,054,000

$3,808,771

66

10

2018

$5,430,167

$5,155,278

71

9

2017

$3,148,000

$2,943,000

138

6

2016

$3,179,957

$3,051,429

108

7

Q3 {2020 v 2019}

Change

Santa Barbara Q3 Market Update / Hope Ranch / 14

at a glance {Q3 | 2020}

HOPE RANCH

10

%

Change in Average Selling Price {2020 v 2019}

130

%

Change in Units Sold {2020 v 2019}

23 Units Sold

4.2m

$

Average Selling Price

at a glance {Q3 | 2020}

GOLETA

2

%

Change in Average Selling Price {2020 v 2019}

33

%

Change in Units Sold {2020 v 2019}

174 Units Sold

1.1m

$

Average Selling Price

|

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

200 180

$1,000,000

160 140

$800,000

120

$600,000

100 80

$400,000

60 40

$200,000

20

$0

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

-5%

2%

33%

33%

2020

$1,117,079

$1,098,954

48

174

2019

$1,175,473

$1,076,399

36

131

2018

$892,019

$880,544

40

142

2017

$863,089

$848,313

41

129

2016

$867,525

$853,209

33

137

Q3 {2020 v 2019}

Change

17

/ Goleta / Santa Barbara Q3 Market Update

SANTA YNEZ VALLEY

Featured Properties We invite you to explore our exclusive offerings at

SOTHEBYSREALTY.COM

SOLVANG

Stately Ranch 2019RandomOaks.com

LOS ALAMOS

Foxen Creek Ranch FoxenCreekRanch.com SANTA YNEZ

Foxen Canyon Classic 5999FoxenCanyon.com SANTA YNEZ

Oaks and Rolling Hills 1599nRefugio.com SOLVANG

Mediterranean-Style Compound 2035Dermanak.com *in order from left to right, top to bottom

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19

/ Santa Ynez Valley Featured Properties / Santa Ynez Valley Q3 Market Update

Market Snapshot

Santa YnezTotal Valley |Units Q3 2020Sold Highlight:

Highlight -units vs ASP

140

$1.6 $1.4

Buellton Santa Ynez

$1.2 $1.0

Los Olivos

$0.8

120

Santa Ynez Ballard & Solvang Los Olivos Buellton

100 80 60

$0.6 40

$0.4

Ballard & Solvang

$0.2

20

$0.0

0

*Price in Millions

Total Units Sold 37 45 6 29

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

Five Year Comparison

Santa Ynez, Ballard, Solvang, Los Olivos and Buellton

$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

21

Buellton

/ Q3 Market Snapshot / Santa Ynez Valley Q3 Market Update

at a glance {Q3 | 2020}

SANTA YNEZ

80

%

Change in Average Selling Price {2020 v 2019}

164

%

Change in Units Sold {2020 v 2019}

37 Units Sold

2.6m

$

Average Selling Price

|

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

40 35

$2,500,000

30 $2,000,000

25

$1,500,000

20 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.

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Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

66%

80%

22%

164%

2020

$2,702,673

$2,602,351

209

37

2019

$1,631,786

$1,442,107

171

14

2018

$1,887,000

$1,767,988

223

16

2017

$1,681,194

$1,569,025

203

25

2016

$1,074,938

$1,006,159

161

16

Q3 {2020 v 2019}

Change

23

/ Santa Ynez / Santa Ynez Valley Q3 Market Update

|

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

46

$1,000,000

44

$800,000

42

$600,000

40

$400,000

38

$200,000

36

$0

34

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.

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Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

24%

24%

-23%

5%

2020

$1,106,878

$1,069,610

114

45

2019

$889,623

$861,704

147.4186047

43

2018

$855,437

$831,414

105

43

2017

$791,453

$755,977

102

38

2016

$904,385

$866,517

133

42

Q3 {2020 v 2019}

Change

Santa Ynez Valley Q3 Market Update / Ballard | Solvang / 24

at a glance {Q3 | 2020}

BALLARD | SOLVANG

24

%

Change in Average Selling Price {2020 v 2019}

5

%

Change in Units Sold {2020 v 2019}

45 Units Sold

1.1m

$

Average Selling Price

at a glance {Q3 | 2020}

LOS OLIVOS

-18

%

Change in Average Selling Price {2020 v 2019}

-25

%

Change in Units Sold {2020 v 2019}

6

Units Sold

1.1m

$

Average Selling Price

|

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

9

$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

-18%

-18%

-30%

-25%

2020

$1,070,667

$1,051,167

79

6

2019

$1,313,250

$1,280,375

113

8

2018

$1,681,250

$1,616,750

24

4

2017

$1,334,167

$1,260,083

112

6

2016

$814,333

$765,000

101

3

Q3 {2020 v 2019}

Change

27

/ Los Olivos / Santa Ynez Valley Q3 Market Update

|

Average Selling Price Total Units Sold $800,000

35

$700,000

30

$600,000

25

$500,000

20

$400,000 15

$300,000

10

$200,000 $100,000

5

$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.

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Average List Price

Average Selling Price

Average Days on Market

Total Units Sold

21%

22%

107%

7%

2020

$679,359

$671,276

95

29

2019

$559,739

$549,747

46

27

2018

$576,259

$567,422

59

18

2017

$714,102

$701,548

63

26

2016

$640,453

$624,493

104

15

Q3 {2020 v 2019}

Change

Santa Ynez Valley Q3 Market Update / Buellton / 28

at a glance {Q3 | 2020}

BUELLTON

22

%

Change in Average Selling Price {2020 v 2019}

7

%

Change in Units Sold {2020 v 2019}

29 Units Sold

700k

$

Average Selling Price

PHOTO BY GIAMMARCO BOSCARO ON UNSPLASH

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