Market Report | South Santa Barbara County | August 2022

BUTTERFLY BEACH AT SUNRISE | MONTECITO

Hello Family + Friends - Looking for inside knowledge of the current real estate market—Read On!

We are all hearing a lot of “noise” about the decline of the nationwide real estate market and volatility of the stock market. Even amongst this uncertainty—real estate has historically proven to be an excellent long term investment that goes up over time. Plus you can live in it and enjoy it!

Desire to live in our beautiful community is still high but supply is not keeping up, meaning there are still more buyers than sellers—which continues to drive the market. Sellers can still be optimistic since our market remains strong and we still see a window to capitalize on property appreciation. We caution sellers to price their home correctly since we are seeing many more price reductions before a property goes into escrow. There are still good buys to be had for buyers if you understand value and know the area. This is where we excel in helping clients - we know the inventory, neighborhoods and this market and our focus is on investment grade properties that will go up in value over time. Zillow or online search sites can not do this.

Let’s have a quick look of some highlights and review of the stats. Full report to follow including properties currently available that we feel are good values.

- Highest August Sale at 607 Sand Point Road in Carpinteria on the beach for $23,000,000

- 44% All-Cash Sales vs 32% in July - 8 Homes Traded Over $5M

- 23 Homes Traded “Off Market” (2 in Montecito) - Closed Price is 98.8% to List Price

Market Statistic Overview | Everything with Price is UP and Everything with Supply is DOWN:

- Total Active Listings Down -24%

- Told Sold Properties -33%

- Median Sales Price +17%

- New Listings Down -21%

- Sold Dollar Volume -27%

Buyers—make sure you know all your options including Compass Private Exclusive properties (off-market inventory/pocket listings). Sellers—it’s more important than ever to be realistic on pricing since we are seeing increased price reductions each week. Buyers are sophisticated and understand value so you don’t want to be overlooked and find your home becoming stale which often leads to a lower sales price in the end. Working with an experienced team like us who understands how to position and market your home will give you the best chance to realize the highest price with the most favorable terms.

In this market, experience matters. We offer concierge level professional service to our clients with world-class marketing, a proven track record of success, the skills necessary to put complicated deals together and negotiate the price and terms that will get your offer accepted amongst multiple offers. Our goal is to get you the best price for your existing home and find you the right replacement property with minimal stress. Let’s explore your property’s current valuation and discuss a strategy.

Looking for professional + creative results-oriented representation or a deeper dive into the market. Let’s Talk!

CARS & COFFEE PORSCHE EVENT | UPPER VILLAGE MONTECITO

6 SOUTH SANTA BARBARA COUNTY MARKET REPORT | AUGUST 2022

BANDIT POSING AFTER MEEING HIS DOG FRIENDS | RIVIERA PARK FOUNTAIN

SANTA BARBARA

ROSEWOOD MIRAMAR BEACH HOTEL | MONTECITO

BEST INVESTMENT

|

Real estate has been

consistently rated the best long-term investment for 9 years in a row. Owning real estate is more than just a place to call home— it’s also an investment in your future. That’s because it’s typically a stable and secure asset that can grow in value over time.

- recent Gallup poll

MONTECITO SALES | AUGUST

Address

List Price Sold Price % to List DOM

848 Hot Springs Road Off Market $36,000,000 100% 1 990 Hot Springs Road Off Market $14,750,000 100% 1 262 Santa Rosa Lane $7,995,000 $8,180,790 102% 16 800 Hot Springs Road $8,950,000 $7,625,000 85% 92 1530 San Leandro Lane $7,000,000 $7,600,000 109% 8 325 San Ysidro Road $7,595,000 $7,479,270 98% 13 1209 Cima Linda Lane $7,950,000 $7,025,000 88% 67 525 Hot Springs Road $5,750,000 $5,100,000 89% 468 684 Ladera Lane $5,300,000 $5,000,000 94% 1 1650 San Leandro Lane $4,250,000 $4,275,000 100% 1 544 Santa Rosa Lane $4,995,000 $3,940,000 79% 56 1071 East Mountain Drive $3,850,000 $3,873,000 101% 31 746 Santecito Drive $3,895,000 $3,750,000 96% 9 1293 Spring Road, #1 $3,250,000 $3,250,000 100% 38 536 Santa Angela Lane Off Market $2,800,000 100% 1 980 Hot Springs Road Off Market $2,300,000 100% 1 176 Hermosillo Drive Off Market $2,072,000 100% 1 196 Santa Elena Lane $1,695,000 $1,950,000 115% 4

* DOM = Days on Market

SOUTH SANTA BARBARA COUNTY MARKET REPORT | AUGUST 2022

PATH TO PARADISE | SANTA BARBARA

SANTA BARBARA

HOPE RANCH BEACH LIFEGUARD STAND | HOPE RANCH

SUMMERLAND BEACH | DRIFTWOOD ABUNDANCE | SUMMERLAND

FARMERS MARKET | CARPINTERIA

SOUTH SANTA BARBARA COUNTY MARKET REPORT | AUGUST 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.

Listing

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 August 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 Group. Contact us for details or to set up a private showing at 805.880.6530.