Market Report | South Santa Barbara County | August 2021

2021

SANTA BARBARA COUNTY

market report august 2021 | haden homes luxury property group | compass montecito

August

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Residential Real Estate Market Report

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WE HAVE NEVER SEEN A BETTER TIME TO SELL

C H A N N E L D R I V E / B U T T E R F LY B E AC H | M O N T E C I TO

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Wow—Extraordinary Statistics . . . and the momentum continues. The

market is moving fast and we have seen unprecedented sales. Let us help you navigate this frenzy!

There has already been 1015 homes sold during the first eight months of 2021 compared to between 731-786 during the same time periods of 2017-2020.

What is also remarkable is that the median sales price for homes and estates (excluding condos) has jumped to $1,900,000—a 31% increase over 2020. We attached the graph to give you a true visual back to 2017. Again - WOW! Year to date, we have total sales of 1580 single family and condominium homes with a 38% increase over 2020. The average sales price of single family homes has seen a 46% increase over 2020 at $2,488,521 while the median sales price increased 14% to $1,498,000. Take a look at the data that we broke down by city for you to review.

The lack of available inventory and strong buyer demand has produced many over-asking price offers, which has contributed to rising prices in all segments of our market. In Montecito during the month of August, 73% of closed sales were at and over the asking price. Our area is experiencing an unparalleled seller’s market with an astounding increase in total sales and record sales prices. We have never seen a better time to sell. Curious—­let’s determine what your property value is.

For buyers, the competition is fierce and quick decisions are often necessary to be in the game. The time a home spends on the market (days on market/ DOM) has been slashed from months to days—often with very short inspection periods and quick closes. We have a proven track record of succeeding in this highly competitive market by getting offers accepted on in demand properties—despite multiple offers. Let us help you determine if the home you are interested in is a true investment grade property then we can put you in a strong position to get your offer accepted.

Our team offers concierge level professional service to all of our clients and have the experience necessary to put complicated deals together. Our world class marketing along with Compass will give your property maximum exposure, including pricing it to capitalize on its value and negotiating the optimal price and terms with potential buyers. Then get an offer accepted on your replacement property.

Choose experience — let’s discuss a strategy . . .

Randy and Molly

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S A N YS I D R O R A N C H GA R D E N S | M O N T E C I TO

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SANTA BARBARA COUNTY SINGLE FAMILY RESIDENCES + CONDOMINIUMS (combined sales)

August YTD 2021 | In Review TOTAL SALES

1580

38% increase over 2020

AVERAGE SALES PRICE 46% increase over 2020

$2,488,521 MEDIAN SALES PRICE 14% increase over 2020

$1,498,000

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B A N D I T E N J OY I N G T H E M U S I C ACA D E M Y O F T H E W E S T | M O N T E C I TO

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SANTA BARBARA COUNTY SINGLE FAMILY RESIDENCES + CONDOMINIUMS (separated)

August YTD 2021 | In Review

SINGLE FAMILY RESIDENCES YTD

CONDOMINIUM HOMES YTD

TOTAL SALES

TOTAL SALES

36% increase over 2020

44% increase over 2020

1111

469

AVERAGE SALES PRICE

AVERAGE SALES PRICE

$3,105.273

$1,027,515

MEDIAN SALES PRICE

MEDIAN SALES PRICE

$1,900,000

$832,000

52% increase over 2020

36% increase over 2020

19% increase over 2020

4% increase over 2020

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- homes | estates | puds -

TOTAL UNITS SOLD YTD 2017—2021

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- homes | estates | puds -

MEDIAN SALES PRICE YTD 2003—2021

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M I R A M A R B E AC H | M O N T E C I TO

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MONTECITO SINGLE FAMILY RESIDENCES + CONDOMINIUMS August 2021 | In Review TOTAL SALES

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AVERAGE SALES PRICE 71% increase from 2020

$6,179,464

MEDIAN SALES PRICE 41% increase from 2020

$4,187,166

HIGHEST SALES PRICE 699 San Ysidro Road Montecito CA 93108

$28,000,000 LOWEST SALES PRICE 1944 N Jameson Lane, Unit D Montecito CA 93108

$1,000,000 Villa de Montecito Condo

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73% of Montecito Closed Sales During August Were At OR Over The Asking Price.

—Fidelity National Title Stats

B E L M O N D E L E N CA N TO | U P P E R R I V I E R A | S A N TA B A R B A R A

MONTECITO SALES | AUGUST 2021

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* DOM = Days on Market

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1708 PATERNA ROAD SANTA BARBARA CA 93103 Upper Riviera | Built 1920 5 BD | 4 BA | 3,216± SF | 0.38± AC Offered at $4,750,000

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SANTA BARBARA SINGLE FAMILY RESIDENCES + CONDOMINIUMS August 2021 | In Review TOTAL SALES

101

AVERAGE SALES PRICE 15% increase from 2020

$1,580,749

MEDIAN SALES PRICE 6% increase from 2020

$1,314,000

HIGHEST SALES PRICE 1540 Franceschi Road Santa Barbara CA 93103

$4,150,000

LOWEST SALES PRICE 1227 Stonecreek Road, Unit F Santa Barbara CA 93105

$675,000 Condo

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861 E ALAMAR AVENUE SANTA BARBARA CA 93105 Ocean View Building Pad | Barn 8.13± AC | Avocado Trees Offered at $1,495,000

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S A N TA B A R B A R A C O U N T Y S U P E R I O R C O U R T H O U S E | S A N TA B A R B A R A

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H O P E R A N C H B E AC H L I F E G UA R D S TA N D | H O P E R A N C H

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HOPE RANCH SINGLE FAMILY RESIDENCES + CONDOMINIUMS August 2021 | In Review TOTAL SALES

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AVERAGE SALES PRICE 46% increase from 2020

$7,991,143

MEDIAN SALES PRICE 2% increase from 2020

$5,000,000

4050 CUERVO AVE 4050 Cuervo Ave Hope Ranch CA 93110

$19,000,000 LOWEST SALES PRICE 571 Via Sinuosa Hope Ranch CA 93110

$3,400,000

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S U M M E R L A N D B E AC H | S U M M E R L A N D

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SUMMERLAND SINGLE FAMILY RESIDENCES + CONDOMINIUMS August 2021 | In Review TOTAL SALES

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AVERAGE SALES PRICE n/a change from 2020

n/a

MEDIAN SALES PRICE n/a change from 2020

n/a

HIGHEST SALES PRICE 2325 Finney St Summerland CA 93067

$10,000,000 LOWEST SALES PRICE 2155 Ortega Hill Road, Unit 2 Summerland CA 93067

$1,225,000

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CARPINTERIA SINGLE FAMILY RESIDENCES + CONDOMINIUMS August 2021 | In Review TOTAL SALES

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AVERAGE SALES PRICE 11% increase from 2020

$1,129,905

MEDIAN SALES PRICE 32% increase from 2020

$1,075,000

HIGHEST SALES PRICE 355 Linden Avenue Carpinteria CA 93013

$4,140,000

LOWEST SALES PRICE 3950 Via Real Space, 187 Santa Barbara CA 93013

$355,000

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GOLETA SINGLE FAMILY RESIDENCES + CONDOMINIUMS August 2021 | In Review TOTAL SALES

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AVERAGE SALES PRICE 18% increase from 2020

$1,296,643

MEDIAN SALES PRICE 26% increase from 2020

$1,195,000

HIGHEST SALES PRICE 1270 Via Brigitte Goleta CA 93111

$5,025,000 LOWEST SALES PRICE 4326 Calle Real Spc 2 Goleta CA 93110

$270,000 Manufactured Home

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RANDY HADEN | MOLLY HADEN

LET’S CONNECT

DRE 01988499 | DRE 02020380 805.880.6530 | 805.880.6540 randy.haden@compass.com molly@hadenhomes.com

www.hadenhomes.com

$

46M

Total Sales 2020

1%

Top 1% of Agents

@hadenhomesrealtors

CHOOSE experience

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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.

CONCIERGE SERVICE 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.

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.

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CHICAGO TITLE FIDELITY NATIONAL TITLE SANTA BARBARA MLS

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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 July 2021.

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 Group. Contact us for details.