Q3 2019 | Santa Barbara & Santa Ynez Region Market Update

Q3 | 2019

Santa Barbara | Santa Ynez Valley

Market Update

MONTECITO

Modern Farmhouse Offered at $5,250,000 | 645ElBosqueRoad.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/SANTABAR BARA

MONTECITO

Contemporary Masterpiece Offered at $5,675,000 | 396Woodley.com

MONTECITO

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

Offered at $8,750,000 355OrtegaRidge.com MONTECITO

Offered at $7,500,000 1185Fife.com SANTA BARBARA

Offered at $3,575,000 1568LaVistaDelOceano.com *in order from left to right, top to bottom

sothebyshomes.com/santabarbara

5

/ Santa Barbara Featured Properties / Santa Barbara Q3 Market Update

Market Snapshot Santa Barbara | Q3 2019

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

$1.8

600

$1.6

550

$1.4

Goleta

500

Carp-Summerland $1.2 Montecito

Hope Ranch

Montecito $1.0 Santa$0.8 Barbara

400

Hope Ranch

350

Goleta

300

$0.6

Santa Barbara

$0.4 $0.2

250

$0.0

200

*Price in Millions

Total Units Sold 58 60 215 10 127

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

450

Five Year Comparison

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

$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

/ Q3 Market Snapshot / Santa Barbara Q3 Market Update

at a glance {Q3 | 2019}

carpinteria | summerland

92

%

Change in Average Selling Price {2019 v 2018}

26

%

Change in Units Sold {2019 v 2018}

58 Units Sold

1.7m

$

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

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

93%

92%

-15%

26%

2019

$1,783,178

$1,712,172

78

58

2018

$922,672

$893,099

92

46

2017

$1,003,577

$970,914

54

60

2016

$968,323

$916,696

64

57

2015

$1,056,154

$997,622

46

71

Q3 {2019 v 2018}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q3 Market Update

|

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

70

$4,000,000

60

$3,500,000

50

$3,000,000 $2,500,000

40

$2,000,000

30

$1,500,000

20

$1,000,000

10

$500,000 $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

-2%

1%

48%

46%

2019

$4,497,717

$4,229,259

83

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

2015

$4,070,193

$3,847,569

90

44

Q3 {2019 v 2018}

Change

Santa Barbara Q3 Market Update / Montecito / 10

at a glance {Q3 | 2019}

montecito

1

%

Change in Average Selling Price {2019 v 2018}

46

%

Change in Units Sold {2019 v 2018}

60 Units Sold

4.2m

$

Average Selling Price

at a glance {Q3 | 2019}

santa barbara

3

%

Change in Average Selling Price {2019 v 2018}

-4

%

Change in Units Sold {2019 v 2018}

215 Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,300,000

240

$1,250,000

235

$1,200,000

230

$1,150,000

225

$1,100,000

220

$1,050,000

215

$1,000,000

210

$950,000

205

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

3%

3%

-12%

-4%

2019

$1,291,449

$1,254,031

42

215

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

2015

$1,111,829

$1,081,175

36

235

Q3 {2019 v 2018}

Change

13

/ Santa Barbara / Santa Barbara Q3 Market Update

|

Average Selling Price Total Units Sold $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

2017

2018

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

-25%

-26%

-7%

11%

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

2015

$4,450,000

$4,241,458

101

5

Q3 {2019 v 2018}

Change

Santa Barbara Q3 Market Update / Hope Ranch / 14

at a glance {Q3 | 2019}

hope ranch

-26

%

Change in Average Selling Price {2019 v 2018}

11

%

Change in Units Sold {2019 v 2018}

10 Units Sold

3.8m

$

Average Selling Price

at a glance {Q3 | 2019}

goleta

18

%

Change in Average Selling Price {2019 v 2018}

-11

%

Change in Units Sold {2019 v 2018}

127 Units Sold

1

$ m Average Selling Price

|

Average Selling Price Total Units Sold 250

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

200

$800,000

150

$600,000 100

$400,000

50

$200,000 $0

0

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

19%

18%

-8%

-11%

2019

$1,058,069

$1,039,940

36

127

2018

$892,019

$880,544

40

142

2017

$863,089

$848,313

41

129

2016

$867,525

$853,209

33

137

2015

$815,093

$809,491

26

195

Q3 {2019 v 2018}

Change

17

/ Goleta / Santa Barbara Q3 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

Quail H Ranch | Offered at $16,500,000 1162AlisosRoad.com

SANTA YNEZ

Offered at $6,995,000 7300HappyCyn.com SANTA YNEZ

Offered at $5,995,000 1920WesterlyRd.com SOLVANG

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

Offered at $2,850,000 3235CalleBonita.com *in order from left to right, top to bottom

sothebyshomes.com/santaynez

19

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

Market Snapshot

Highlight: Total Units Sold Santa Ynez Valley | Q3 2019

Highlight -units vs ASP Santa Ynez Buellton

$1.2 $1.0 $0.8

Ballard & Solvang

Los Olivos

$0.6

90 80

Santa Ynez Ballard & Solvang Los Olivos Buellton

20 10

$0.0

7 38 7 19

0

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

50

30

$0.2

Total Units Sold

60

40

$0.4

*Price in Millions

70

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

/ Q3 Market Snapshot / Santa Ynez Valley Q3 Market Update

at a glance {Q3 | 2019}

santa ynez

7

%

Change in Average Selling Price {2019 v 2018}

-53

%

Change in Units Sold {2019 v 2018}

7

Units Sold

2

$ m 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

11%

7%

-37%

-53%

2019

$2,229,286

$2,002,857

132

7

2018

$2,011,800

$1,879,187

209

15

2017

$1,829,088

$1,702,649

185

21

2016

$1,335,000

$1,218,929

116

14

2015

$1,219,333

$1,176,611

164

9

Q3 {2019 v 2018}

Change

23

/ Santa Ynez / Santa Ynez Valley Q3 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

4%

4%

21%

6%

2019

$941,103

$914,480

104

38

2018

$903,164

$879,189

86

36

2017

$802,840

$764,571

76

30

2016

$1,111,408

$1,064,610

126

24

2015

$758,150

$718,883

62

16

Q3 {2019 v 2018}

Change

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

at a glance {Q3 | 2019}

ballard | solvang

4

%

Change in Average Selling Price {2019 v 2018}

6

%

Change in Units Sold {2019 v 2018}

38 Units Sold

900k

$

Average Selling Price

at a glance {Q3 | 2019}

los olivos

-29

%

Change in Average Selling Price {2019 v 2018}

133

%

Change in Units Sold {2019 v 2018}

7

Units Sold

1.3m

$

Average Selling Price

|

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

8

$1,800,000

7

$1,600,000

6

$1,400,000 $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

-30%

-29%

233%

133%

2019

$1,381,000

$1,346,143

50

7

2018

$1,976,667

$1,898,333

15

3

2017

$1,323,333

$1,257,500

111

6

2016

$814,333

$765,000

48

3

2015

$816,248

$801,125

35

4

Q3 {2019 v 2018}

Change

27

/ Los Olivos / Santa Ynez Valley Q3 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

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

-2%

-2%

-32%

27%

2019

$640,784

$630,684

40

19

2018

$654,444

$646,084

59

15

2017

$620,996

$605,068

55

21

2016

$866,111

$842,667

102

9

2015

$499,229

$486,171

36

14

Q3 {2019 v 2018}

Change

Santa Ynez Valley Q3 Market Update / Buellton / 28

at a glance {Q3 | 2019}

buellton

-2

%

Change in Average Selling Price {2019 v 2018}

27

%

Change in Units Sold {2019 v 2018}

19 Units Sold

600k

$

Average Selling Price

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