Market Report | South Santa Barbara County | April 2022

Hello Family and Friends -

April did not give us the “Spring Climb into Summer” that we normally expect - maybe next month!

Instead, demand is still high and supply hasn’t quite caught up, meaning there are more buyers than sellers — which is a significant part of what is driving the market right now. While many are experiencing ups and downs in their investment accounts, the quote to the right brings some long-term perspective to our market. Real estate has created a lot of wealth in our country and, as they say . . . you can’t live in a stock certificate!

Snapshot | During April, there were 98 homes and 38 condos sold. Looking at Single Family Homes in April 2021 vs April 2022 - Everything with Prices is UP and Everything with Supply is DOWN:

- Total Active Listings Down -25% - New Listings Down -22%

- New Escrows Down -28% - Median Sales Price Up +18%

- Sold Dollar Volume Down -14% - Sold Properties Down -28%

The April Highlights:

- $52,000,000 Highest Sale at 700 Picacho Lane in Montecito

- 23% All-Cash Sales

- 19 Homes Traded Over $5M.

- 21% of Homes in Montecito Sold Privately “Off Market”

- 75% Sold at or Over the Asking Price

- 41% Sold Over the Asking Price

Other Big News | Compass was “Just Listed” on the Fortune 500 (top 500 company in the US by revenue) alongside the world’s most prestigious companies like Apple, Amazon, and Nike! In less than 10 years, we have become the #1 residential real estate brokerage in America (RealTrends) and one of the youngest companies ever to make the Fortune 500. Almost a quarter-million clients put their trust in a Compass agent as they made one of the biggest decisions in their life. We personally have seen how our partnership with Compass has benefited our clients with superior technology, world-class marketing and programs unmatched in the industry. Including Compass Private Exclusive listings (off-market) and Compass Concierge resulting in proven higher sold prices in less time for our sellers. Call us to learn more.

Overall, short monthly samples are compelling but not ideal since they do not predict what will ultimately happen but the housing market is one of the brightest spots of the US economy. With the lack of inventory and competitive nature of the market right now, it is more important than ever to work with professionals who know the business and can help you make a good long-term investment. When deciding to sell, we simply have never seen a better time to benefit from the best and highest price. Let’s explore your property’s current valuation and discuss a strategy.

Looking for professional + creative results-oriented representation - Let’s Talk!

Randy and Molly

SANTA BARBARA

BUTTERFLY BEACH / CHANNEL DRIVE | MONTECITO

MONTECITO SALES | APRIL

Address

List Price Sold Price % to List DOM

830 Riven Rock Road $14,950,000 $14,500,000 97% 10 1890 Jelinda Drive Off Market $11,500,000 100% 1 2285 Bella Vista Drive $14,950,000 $11,125,000 74% 282 2150 Ortega Ranch Lane $12,950,000 $10,500,000 81% 109 686 El Rancho Road $7,750,000 $8,508,000 110% 15 1530 Lingate Lane Off Market $8,067,500 100% 1 808 Hot Springs Road $6,495,000 $6,650,000 102% 9 2160 Veloz Drive Off Market $6,395,000 100% 1 602 Parra Grande Lane Off Market $5,425,000 100% 1 1530 Willina Lane $4,995,000 $5,400,000 108% 1 440 Woodley Road $6,500,000 $5,325,000 82% 211 395 Woodley Road $5,295,000 $5,288,265 99% 5 1485 Monte Vista Road $5,200,000 $5,200,000 100% 2 1440 Irvine Lane Off Market $5,050,000 100% 1 107 Olive Mill Road $4,975,000 $4,975,000 100% 5 810 Coyote Road $5,595,000 $4,900,000 88% 155 1497 Isabella Lane $4,250,000 $4,525,000 106% 8 228 Rametto Road $3,450,000 $4,150,000 120% 4 21 Via Alicia $3,750,000 $4,000,000 107% 10 1910 Barker Pass Road Off Market $3,300,000 100% 1 173 Cedar Lane $2,249,000 $2,660,000 118% 12 470 Cota Lane $1,850,000 $2,625,000 142% 7 1220 Coast Village Rd. #210 $1,995,000 $2,200,000 110% 5 1938 North Jameson, A $1,195,000 $1,411,000 118% 11

* DOM = Days on Market

STEARNS WHARF TOWARD SANTA BARBARA COAST | SANTA BARBARA

SANTA

HOPE RANCH BEACH| HOPE RANCH

SUMMERLAND BEACH | DRIFTWOOD ABUNDANCE | SUMMERLAND

THE WORLD’S SAFEST BEACH + BANDIT | CARPINTERIA

SOUTH SANTA BARBARA COUNTY MARKET REPORT | MARCH 2022

SANDPIPER GOLF CLUB I | GOLETA

DISCRETION

Privacy is the Ultimate Commodity And the Decision to Sell Your Home Is a Personal One.

FLEXIBILITY

Decide When to Share Details About Your Home - Including PriceMore Expansively On Your Own Timing.

QUALITY

Exclusive Exposure To Compass Agents, Including Premium Placements On Agent Facing Platform.

VALUE

Get the Best Offer by Testing The Market Privately to Gather Key Insights Without Your Listing Getting Stale or Overexposed.

CONCIERGE Real Estate Service

EXPERT PERSPECTIVE

Now more than ever you need an expert advisor on your side who can provide comprehensive analysis and exclusive insights into today’s fast-paced housing market. We see every luxury property available and know the market. Our commitment to staying educated on what’s happening with economic news, the real estate market, local sales and listings is essential to your success when buying or selling properties. We strive to deliver a high level of personalized service—personally! We provide our clients with cutting-edge strategies that produce ideal results. Our exceptional service is driven by efficient communication, understanding your needs and having expansive industry resources— combined with expert knowledge of the extensive contracts and required forms to protect your best interests. The process comes together as a result of our years of successful negotiating which leads to a winning deal. We listen carefully, anticipate your needs, execute the deal and handle all the details. The hard work starts when a contract is in place so you will be happy you chose representation experienced in closing the deal smoothly.

CONCIERGE SERVICE

COMMUNITY INVESTMENT

Sell a Home | Build a Home initiative. We are deeply connected and committed to the communities in which we live and work. Haden Homes Luxury Property Group has made a pledge to help individuals with housing needs by partnering with Habitat for Humanity. For every home that our clients buy or sell, Haden Homes makes a donation to Santa Barbara’s Habitat for Humanity.

CHICAGO TITLE FIDELITY NATIONAL TITLE SANTA BARBARA MLS

DATA SOURCES | LISTING DISCLOSURE

All information provided is deemed reliable but has not been verified and we do not guarantee it. We recommend that buyers make their own inquiries. Data source Fidelity National Title, Chicago Title and Santa Barbara MLS. INdata Real Estate Market Reporting through April 2022.

Properties featured are courtesy of the Santa Barbara MLS and are available for sale at time of publication. They may be listed by brokers and/or agents other than Compass or Haden Homes Luxury Property Group. Contact us for details or to set up a private showing at 805.880.6530.