2024 YEAR IN REVIEW
MONTECITO
MONTECITO’S 2024 REAL ESTATE MARKET SAW SIGNIFICANT GROWTH
COMPARED TO 2023, WITH THE AVERAGE SALES PRICE RISING BY 18% TO $7.18M, THE MEDIAN SALES PRICE INCREASING SLIGHTLY TO $5.4M, AND TOTAL SALES VOLUME REACHING $1.17B, A 15% YEAR-OVER-YEAR INCREASE, DESPITE A SLIGHT DIP IN THE NUMBER OF TRANSACTIONS.
NOTABLY, AVERAGE DAYS ON MARKET EXTENDED FROM 48 TO 84 DAYS, AVERAGE PRICE PER SQUARE FOOT ROSE TO $1,874, AND OFF-MARKET SALES NEARLY TRIPLED FROM 8 TO 23.
HOPE RANCH
THE HOPE RANCH MARKET SOFTENED IN 2024 COMPARED TO 2023, WITH TOTAL SALES VOLUME FALLING 27.2% TO $106.42 MILLION AND THE NUMBER OF TRANSACTIONS DECLINING 15% TO 17 SALES. THE AVERAGE SALES PRICE DECREASED 10.2% TO $6,316,867, WHILE THE MEDIAN SALES PRICE GREW 6.6% TO $6,116,500. PROPERTIES SPENT 60.4% LONGER ON THE MARKET, AVERAGING 150.8 DAYS, WHILE OFFMARKET SALES HELD STEADY AT THREE EACH YEAR.
JAN 1 - DEC 31 | 2024 YEAR
$1.1B+
TOTAL SALES VOLUME IN 2024
↑15% COMPARED TO 2023
TOTAL TRANSACTIONS IN 2024 N
↑1%
$7,180,683
$10M+ MONTECITO MARKET
$10M+ HOPE RANCH MARKET
$10M+ TRANSACTIONS
$10M+ Sales Annually
IN TOTAL $10M+ SALES
$5,840,286
In Q4 2024, Montecito experienced notable growth compared to Q4 2023, with total sales volume rising 7.9% to $239.45 million and the number of transactions increasing by 7.9% to 41 sales. The median sales price climbed 7% to $5,292,000 , while the average sales price held steady with a slight 0.005% increase to $5,840,286 . Despite this growth, properties spent 22% longer on the market, averaging 109 days , and off-market sales nearly doubled, jumping 83% from 6 to 11 transactions throughout the year.
THE DATA SHOWN ILLUSTRATES THE TOTAL SALES QUANTITY FOR A RANGE OF PRICE TIERS WITHIN THE MONTECITO REAL ESTATE MARKET DURING Q4 2024
20 SALES
17 SALES
3 SALES
1 SALES
$5,350,000
$5,081,667
2
In Q4 2024, Hope Ranch’s real estate market experienced a 33.5% decline in total sales volume to $15.25 million compared to $22.94 million in Q4 2023, with the number of sales dropping from four to three transactions. The median sales price edged up 4.8% to $5.35 million, while the average sales price fell 11.4% to $5.08 million . Properties spent 44% longer on the market, with average days on market rising from 42 to 60.5 days , while the number of off-market sales remained unchanged at one each year.
THE DATA SHOWN ILLUSTRATES THE TOTAL SALES QUANTITY FOR A RANGE OF PRICE TIERS WITHIN THE MONTECITO REAL ESTATE MARKET DURING Q4 2024
1 SALE
2 SALES
0 SALES 0 SALES
THE PRIVATE MARKET
Through our extensive network of clients and top tier agents/brokers we have a collection of curated off-market opportunities accessible exclusively through The Ebbin Group.
Clients who buy and sell through our firm in the private market can expect discreet one-to-one service and client confidentiality.
CONTACT US FOR ACCESS
THE EBBIN GROUP EDGE
White-glove client service, innovative marketing and branding strategies, superior local market expertise and record-breaking sales make The Ebbin Group one of the top-producing and most recognized names in Santa Barbara, Montecito, and Ojai real estate. With a proprietary listing management and marketing analytics system, we provide best-in-class service and a multifaceted, competitive advantage in selling luxury properties.
HYPER-TARGETED SALES OUTREACH
Proprietary wealth-mapping technology provides us a database of comprehensive dossiers on the world’s high-net-worth individuals, with demographic details such as age, net worth, business, interests and affiliations. This data enables strategic, direct outreach to the most qualified luxury prospects whose personal interests and lifestyle preferences align with a property’s unique characteristics.
A FULL SUITE OF CREATIVE TOUCHPO INTS
With dynamic property films, architectural and lifestyle photography, and targeted print and digital material, we ensure that your offering gains maximized exposure and engages the most qualified demographic. Digital advertising affords unparalleled precision in tracking and measurement. Facilitating meticulous evaluation of advertising effectiveness, our data-driven approach allows for continuous refinement of targeting, messaging, and creative design to culminate the most effective advertising campaign.
TAILORED MARKETING APPROACH
With an in-house dedicated marketing team, we tailor our marketing programs unique to each listing, utilizing compelling and artful creative that sets your property apart and appeals to its most precise demographic. With online marketing expertise and a substantial advertising budget, we leave no stone unturned, tirelessly target marketing to potential purchasers of your home.
WHITE GLOVE CONCI ERGE SERVICE
Other firms may claim to offer concierge service but at The Ebbin Group we deliver beyond our competition by offering our clients a gateway to an entire real estate lifestyle ecosystem. With “insider” access and relationships, we provide our clients valuable recommendations and introductions to sought-after interior designers, architects, contractors, and a multitude of other service providers.
WORK WITH US THE EBBIN GROUP
A recognized leader in luxury real estate in the exclusive areas of Montecito, Hope Ranch, Santa Barbara, Carpinteria, and Ojai. Our expertise in market trends, contract negotiation, architecture & design, strategic investments, and access to off-market properties provides our clients with invaluable insight and a distinct advantage in achieving their real estate objectives.
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The Ebbin Group is THE dream team. Since representing us both as buyers and sellers, I can honestly say their genius on both sides of a real estate transaction is supreme. They are negotiators that know when to hit the gas pedal and when to tap the brakes. Excellence requires character, integrity, nuance, and experience. There is no one better.”
- One Of Many Satisfied Clients
PRINCIPAL
805.705.2125
Luke@TheEbbinGroup.com DRE#
ASSOCIATE
805.403.6533
Greg@TheEbbinGroup.com
DRE: 02238449
DIRECTOR
619.540.1144
Sarah@TheEbbinGroup.com
DRE: 02040404