Santa Barbara Real Estate Market Report | May 2018

MAY real estate market report | 2018

1140 Glenview Road, Montecito

1140 GLENVIEW ROAD, MONTECITO 4 Bedrooms | 6 Bathrooms | isOffered atbut$6,495,000 All information provided deemed reliable, has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018. villagesite.com/property/details/18-1489/1140-glenview-rd-santa-barbara

REVIEW IN NUMBERS may 2018 · south santa barbara county

TOTAL SALES

173

(+5% change from 2017)

SINGLE FAMILY RESIDENCE SALES

114

(-8% change from 2017)

CONDOMINIUM SALES

59

(+64% change from 2017)

All information provided is deemed reliable, but has not been verified & we do not guarantee it. We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

THIS MONTH IN REAL ESTATE The real estate market for the Santa Barbara South Coast, for the month of May 2018, might be viewed as the story of two markets: single family homes vs. condominiums. The number of sales for single family homes for May 2018 is down 8% from May 2017, whereas the number of sales for condominiums for the same month is up 64%! The medium price for both categories of housing is also showing a disparity. The medium price for single family homes for May 2018 is up slightly by 2%, from one year ago. For condominiums, the increase is 19%.

This tale of two markets can reasonably be explained by the surge of new condo developments primarily in Goleta. These developments have been selling briskly

and many are selling for the same price or more as an older single family home. Many buyers are drawn to the appeal of brand new construction, which historically has been a rare commodity on the South Coast.

Market wide, there is 4.9 months of inventory, which is trending towards a more balanced market favoring neither buyers nor sellers, although, as we have seen, the under $1 million market remains firmly in sellers’ market territory.

Call your Realtor to find your Santa Barbara dream home, while interest rates remain historically low.

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

3895 STERRETT AVENUE 3 Bedrooms | 2.5 Bathrooms | Offered at $1,499,000 villagesite.com/property/details/18-1760/3895-sterrett-ave-santa-barbara

194 SANDERLING LANE 3 BedroomS | 2.5 Bathrooms | Offered at $910,000 villagesite.com/property/details/18-1253/194-sanderling-ln-goleta

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

SINGLE FAMILY south santa barbara county

AVERAGE SALES PRICE

MEDIAN SALES PRICE

$1,937,456

$1,227,500

+9% change from 2016

+2% change from 2016

CONDOMINIUM south santa barbara county

AVERAGE SALES PRICE

MEDIAN SALES PRICE

$880,912

$7 10,000

+23% change from 2016

+19% change from 2016

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

5395 8TH STREET 4 Bedrooms | 3 Bathrooms | isOffered atbut$1,995,000 All information provided deemed reliable, has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018. villagesite.com/property/details/18-1308/5395-8th-st-carpinteria

CARPINTERIA

SINGLE FAMILY RESIDENCES

CONDOMINIUM HOMES

total sales

total sales

10

6

average sales price

average sales price

$1,087,450

$723,333

median sales price

median sales price

$1,028,000

$612,500

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

SUMMERLAND

SINGLE FAMILY RESIDENCES

CONDOMINIUM HOMES

total sales

total sales

2

0

average sales price

average sales price

$1,683,500

N/A

median sales price

median sales price

$1,683,500

N/A

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

2535 WHITNEY AVENUE 3 Bedrooms | 3 Bathrooms | Offered at $1,795,000 villagesite.com/property/details/18-1443/2535-whitney-ave-summerland All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

2815 EAST VALLEY ROAD 6 Bedrooms | 6.5 All Bathrooms Guest Home Offered atnot$4,295,000 information provided |is deemed reliable, but has not|been verified & we do guarantee it.

We recommend that buyers make their own inquiries.

DRE #01206734.

Data taken from CORT May 2018. villagesite.com/property/details/17-2426/2815-east-valley-rd-montecito

MONTECITO

SINGLE FAMILY RESIDENCES

CONDOMINIUM HOMES

total sales

total sales

14

3

average sales price

average sales price

$4,441,321

$2,861,667

median sales price

median sales price

$2,737,500

$1,295,000

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

SANTA BARBARA

SINGLE FAMILY RESIDENCES

CONDOMINIUM HOMES

total sales

total sales

54

27

average sales price

average sales price

$1,534,083

$839,333

median sales price

median sales price

$1,290,000

$680,000

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

2606 FOOTHILL ROAD 4 Bedrooms | 4 Bathrooms | Guest Home | Offered at $2,395,000 villagesite.com/property/details/18-1939/2606-foothill-rd-santa-barbara All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

4160 LA LADERA 6 Bedrooms | 7.5 All Bathrooms Offered athas$16,495,000 information provided|is deemed reliable, but not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018. villagesite.com/property/details/17-3091/4160-la-ladera-rd-hope-ranch

HOPE RANCH

SINGLE FAMILY RESIDENCES total sales

3 average sales price

$9,952,667 median sales price

$10,000,000

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

GOLETA

SINGLE FAMILY RESIDENCES

CONDOMINIUM HOMES

total sales

total sales

31

23

average sales price

average sales price

$1,033,919

$7 12,469

median sales price

median sales price

$939,000

$748,500

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

36 TOURAN LANE 4 Bedrooms | 2.5 Bathrooms | Offered at $1,035,000 villagesite.com/property/details/18-1878/36-touran-ln-goleta

All information provided is deemed reliable, but has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018.

1138 PALOMINO ROAD 2 Bedrooms | 3 Bathrooms | isOffered atbut$2,288,000 All information provided deemed reliable, has not been verified & we do not guarantee it.

We recommend that buyers make their own inquiries. DRE #01206734. Data taken from CORT May 2018. villagesite.com/property/details/18-1876/1138-palomino-rd-santa-barbara

LOOKING FORWARD Village Properties offers unparalleled real estate services in Santa Barbara, California and the surrounding communities. Our knowledgeable, connected agents are committed to providing you with the finest professional real estate services available.

For over 20 years Village Properties has earned a reputation for doing what is right and are proud to have grown a team of agents who are courteous, fair, loyal and trustworthy.

Take advantage of today’s market. Contact your Village Properties agent today.

The numbers included in this report are courtesy of Fidelity National Title.

SANTA YNEZ 3615 Sagunto Street, Santa Ynez, CA 93460 | 805.688.1620 MONTECITO 1250 Coast Village Road, Montecito, CA 93108 | 805.969.8900 SANTA BARBARA 1436 State Street, Santa Barbara, CA 93101 | 805.681.8800