Santa Barbara Region Market Update | Q3 2017

Q3 | 2017

Santa Barbara | Santa Ynez Valley

Market Update

SANTA BARBARA

Casa Cielo | Offered at $9,950,000 sothebyshomes.com/0114240

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 Shapshot | 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 Shapshot | 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

SANTA BARBARA

Granada Bldg 7th Fl Penthouse | Offered at $4,850,000 sothebyshomes.com/0632615

MONTECITO

Offered at $45,000,000 sothebyshomes.com/0114121 MONTECITO

Offered at $19,500,000 sothebyshomes.com/0632569 MONTECITO

Offered at $9,995,000 sothebyshomes.com/0632568 MONTECITO

Offered at $3,600,000 sothebyshomes.com/0114156 *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 2017

Highlight: Total Units Sold Highlight -units vs ASP

Carpinteria & Summerland

Goleta

$1.6

600

$1.4

550

Carp-Summerland $1.2

Montecito

Montecito

$1.0

450

Hope Ranch

$0.8

400

Goleta $0.6

350

$0.4

300

$0.2

250

$0.0

200

Santa Barbara

Hope Ranch

Santa Barbara

*Price in Millions

Total Units Sold 60 66 234 6 128

2013 2014 2015 2016 2017

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

$4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0

2013

2014

2015

2016

2017

Average Selling Price Over Five Years by Area

Carpinteria | Summerland

Montecito

Santa Barbara

Hope Ranch

7

Goleta

/ Q3 Highlights / Santa Barbara Q3 Market Update

at a glance {Q3 | 2017}

carpinteria | summerland

6

%

Change in Average Selling Price {2017 v 2016}

5

%

Change in Units Sold {2017 v 2016}

60 Units Sold

971k

$

Average Selling Price

|

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

80

$1,400,000

70

$1,200,000

60

$1,000,000

50

$800,000

40

$600,000

30

$400,000

20

$200,000

10

$0

0

2013

2014

2015

2016

Average Selling Price

2017

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

4%

6%

-16%

5%

2017

$1,003,577

$970,914

54

60

2016

$968,323

$916,696

64

57

2015

$1,056,154

$997,622

46

71

2014

$1,456,130

$1,335,290

70

40

2013

$852,388

$814,348

60

71

Q3 {2017 v 2016}

Change

9

/ Carpinteria | Summerland / Santa Barbara Q3 Market Update

|

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

90

$4,000,000

80

$3,500,000

70

$3,000,000

60

$2,500,000

50

$2,000,000

40

$1,500,000

30

$1,000,000

20

$500,000

10

$0

0

2013

2014

2015

2016

Average Selling Price

2017

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

23%

22%

18%

12%

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

2014

$3,956,025

$3,608,418

73

77

2013

$2,755,085

$2,614,217

69

71

Q3 {2017 v 2016}

Change

Santa Barbara Q3 Market Update / Montecito / 10

at a glance {Q3 | 2017}

montecito

22

%

Change in Average Selling Price {2017 v 2016}

12

%

Change in Units Sold {2017 v 2016}

66 Units Sold

3.5m

$

Average Selling Price

at a glance {Q3 | 2017}

santa barbara

-2

%

Change in Average Selling Price {2017 v 2016}

6

%

Change in Units Sold {2017 v 2016}

234 Units Sold

1.2m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,400,000

240

$1,200,000

230

$1,000,000

220

$800,000 210 $600,000 200

$400,000 $200,000

190

$0

180

2013

2014

2015

2016

Average Selling Price

2017

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

-2%

-2%

-8%

6%

2017

$1,272,724

$1,240,208

43

234

2016

$1,304,188

$1,267,215

47

220

2015

$1,111,829

$1,081,175

18

235

2014

$1,220,876

$1,192,633

38

203

2013

$1,014,380

$996,616

34

226

Q3 {2017 v 2016}

Change

13

/ Santa Barbara / Santa Barbara Q3 Market Update

|

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

14

$4,000,000

12

$3,500,000

10

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

8

$2,000,000

6

$1,500,000

4

$1,000,000

2

$500,000 $0

0

2013

2014

2015

2016

Average Selling Price

2017

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

-1%

-4%

28%

-14%

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

2014

$2,674,615

$2,516,615

143

13

2013

$2,029,271

$2,023,000

61

7

Q3 {2017 v 2016}

Change

Santa Barbara Q3 Market Update / Hope Ranch / 14

at a glance {Q3 | 2017}

hope ranch

-4

%

Change in Average Selling Price {2017 v 2016}

-14

%

Change in Units Sold {2017 v 2016}

6

Units Sold

2.9m

$

Average Selling Price

at a glance {Q3 | 2017}

goleta

0

%

Change in Average Selling Price {2017 v 2016}

-7

%

Change in Units Sold {2017 v 2016}

128 Units Sold

850k

$

Average Selling Price

|

Average Selling Price Total Units Sold $880,000

250

$860,000 200

$840,000 $820,000

150

$800,000 $780,000

100

$760,000 $740,000

50

$720,000 $700,000

0

2013

2014

2015

2016

Average Selling Price

2017

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

0%

0%

21%

-7%

2017

$864,762

$849,940

41

128

2016

$867,525

$853,209

33

137

2015

$815,093

$809,491

26

195

2014

$760,395

$756,287

30

150

2013

$767,888

$757,098

26

154

Q3 {2017 v 2016}

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

SOLVANG

Contemporary Artist Retreat | Offered at $1,850,000 sothebyshomes.com/0621809

SANTA YNEZ

Offered at $14,900,000 sothebyshomes.com/0621796 SANTA YNEZ

Offered at $8,950,000 sothebyshomes.com/0621810 SOLVANG

Offered at $2,475,000 sothebyshomes.com/0621784 SOLVANG

Offered at $1,275,000 sothebyshomes.com/0621806 *in order from left to right, top to bottom

sothebyshomes.com/santaynez

19

/ Featured Properties / Santa Ynez Valley Q3 Market Update

Market Snapshot

Highlight: Total Units Sold Santa Ynez Valley | Q3 2017

Highlight -units vs ASP

Buellton

Santa Ynez

$1.4

80

$1.2

70

Santa Ynez

$1.0

Ballard & Solvang

Los Olivos $0.8 Buellton

50 40

$0.6

Los Olivos

30

Ballard & Solvang $0.4

Total Units Sold

20

$0.2

10

$0.0

0

*Price in Millions

19 30 6 20

60

2013 2014 2015 2016 2017

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 Valley

$2.5

$2.0

$1.5

$1.0

$0.5

$0.0

2013

2014

2015

2016

2017

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 | 2017}

santa ynez

31

%

Change in Average Selling Price {2017 v 2016}

36

%

Change in Units Sold {2017 v 2016}

19 Units Sold

1.6m

$

Average Selling Price

|

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

20 18

$2,000,000

16 14

$1,500,000

12 10

$1,000,000

8 6 4

$500,000

2 $0

0

2013

2014

2015

2016

Average Selling Price

2017

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

26%

31%

38%

36%

2017

$1,685,308

$1,601,232

160

19

2016

$1,335,000

$1,218,929

116

14

2015

$1,219,333

$1,176,611

164

9

2014

$1,661,172

$1,444,341

191

16

2013

$2,576,889

$2,347,333

103

18

Q3 {2017 v 2016}

Change

23

/ Santa Ynez / Santa Ynez Valley Q3 Market Update

|

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

35

$1,000,000

30 25

$800,000

20 $600,000 15 $400,000

10

$200,000

5

$0

0

2013

2014

2015

2016

Average Selling Price

2017

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

-28%

-28%

-40%

25%

2017

$802,840

$764,571

76

30

2016

$1,111,408

$1,064,610

126

24

2015

$758,150

$718,883

62

16

2014

$780,074

$731,493

211

19

2013

$718,423

$688,962

98

13

Q3 {2017 v 2016}

Change

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

at a glance {Q3 | 2017}

ballard | solvang

-28

%

Change in Average Selling Price {2017 v 2016}

25

%

Change in Units Sold {2017 v 2016}

30 Units Sold

765k

$

Average Selling Price

at a glance {Q3 | 2017}

los olivos

64

%

Change in Average Selling Price {2017 v 2016}

100

%

Change in Units Sold {2017 v 2016}

6

Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $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

2013

2014

2015

2016

Average Selling Price

2017

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

63%

64%

131%

100%

2017

$1,323,333

$1,257,500

111

6

2016

$814,333

$765,000

48

3

2015

$816,248

$801,125

35

4

2014

$1,089,750

$1,056,250

120

4

2013

$684,650

$670,333

38

3

Q3 {2017 v 2016}

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

2013

2014

2015

2016

Average Selling Price

2017

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

-28%

-28%

-44%

122%

2017

$625,096

$608,371

57

20

2016

$866,111

$842,667

102

9

2015

$499,229

$486,171

36

14

2014

$439,257

$432,829

121

7

2013

$540,750

$540,533

31

12

Q3 {2017 v 2016}

Change

Santa Ynez Valley Q3 Market Update / Buellton / 28

at a glance {Q3 | 2017}

buellton

-28

%

Change in Average Selling Price {2017 v 2016}

122

%

Change in Units Sold {2017 v 2016}

20 Units Sold

608k

$

Average Selling Price

Property from a Distinguished Private Collection ANDY WARHOL Dollar Sign, 1981 To be sold 16 November in New York Contemporary Art Evening Auction

November 2017 New York Auction Calendar

Impressionist & Modern Art Evening Sale Auction 14 November Impressionist & Modern Art Day Sale Auction 15 November Contemporary Art Evening Auction Auction 16 November Contemporary Art Day Auction Auction 17 November

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.

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