Market Report | South Santa Barbara County | January 2022

BUTTERFLY BEACH FROM CHANNEL DRIVE | MONTECITO

Hello Family and Friends -

The talk this month is Inventory. As we embark on 2022 and look back at our first month of real estate in the South Santa Barbara County, the most striking observation is the staggering lack of inventory for our buyers given the robust demand for properties. Our community offers many of the things people are looking for right now - low population density, near-perfect temperatures, indoor-outdoor lifestyle, open spaces with incredible views, top rated schools, excellent medical facilities and proximity to major cities.

For Sellers, we have never seen a better time to sell. For Buyers, this does not mean you should sit on the sidelines because more properties are coming on the market daily . . . but act QUICKLY! Read on . . .

In January of 2022 we had only 157 active listings, which is down by 29% over the same time last year giving buyers almost no inventory to choose from. Historically, this number is close to the past January Active Listings prior to 2021 (see graph that follows) but what has changed dramatically is the unprecedented demand we have from people wanting to live in our beautiful community.

When we do have homes available—they sell quickly as demonstrated by the average continuous Days on Market of 22 days and the Active Sales being almost equal to the Pending Sales (see graph). Prices remain strong with the “Sold to List Price” at 100.22%. The Median Sales price has climbed to $1,950,000 up by 11% over 2021. The Luxury Market (over $3M) continues strong with historically high sales prices. T he Median Price is now around $4.8M (excluding condos) and 12 properties sold over $5M. Even with the fewer number of sales, the total Sold Volume was at 245 million during January.

There are a lot of questions around where you would go if you sold and how do you compete in this hyper fast market. Well, we love a challenge and have a proven track record of success getting even the most complicated homes sold for the best and highest price and securing buyers their home in multiple bidding scenarios. Be sure to check out our recent record sales at 3030 Sea Cliff (highest price sale in Santa Barbara) and 2825 Hidden Valley Lane in Montecito.

Looking for professional + creative results orientated representation - Let’s Talk! Randy and Molly

4 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JANUARY 2022

DINING AL FRESCO IN JANUARY | SANTA BARBARA

SANTA

BANDIT | FRANCESCHI PARK HIKE | SANTA BARBARA

SANTA BARBARA COUNTY MARKET REPORT | JANUARY 2022

ROSEWOOD MIRAMAR BEACH HOTEL | MONTECITO

RIVEN ROCK ROAD | MONTECITO

MONTECITO SALES | JANUARY

Address List Price Sold Price % to List DOM

805 Picacho Lane $20,000,000 $18,600,000 93% 1 2929 East Valley Road $18,000,000 $17,500,000 97% 1 1066 Toro Canyon Road $12,950,000 $12,000,000 93% 1 1010 Hot Springs Lane $12,000,000 $10,750,000 89% 152 2794 Bella Vista Drive $10,750,000 $9,200,000 85% 63 252 Santa Rosa Lane Off Market $8,650,000 100% 1 1190 East Mountain Drive $8,950,000 $7,500,000 84% 47 2049 Boundary Drive $6,750,000 $7,250,000 107% 1 1525 Bolero Drive Off Market $6,882,000 104% 1 146 Loureyro Road $6,000,000 $6,250,000 104% 1 445 Hot Springs Road $5,550,000 $5,300,000 95% 29 279 Santa Rosa Lane $4,200,000 $4,500,000 107% 7 1091 East Mountain Drive $3,596,000 $3,865,000 107% 7 180 Hermosillo Road $2,895,000 $2,675,000 92% 109

1880 Barker Pass Road Off Market $2,575,000 100% 1 2166 East Valley Road $1,850,000 $2,100,000 114% 112 1315 Plaza De Sonadores $1,850,000 $1,850,000 100% 1

* DOM = Days on Market

SANTA BARBARA

CLIFF SIDE BLUFFS OVERLOOKING PACIFIC OCEAN | HOPE RANCH

SUMMERLAND BEACH | DRIFTWOOD ABUNDANCE | SUMMERLAND

SANTA

FARMERS MARKET | CARPINTERIA

22 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JANUARY 2022

SANTA BARBARA SHORES COUNTY PARK | 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 Testing The Market Privately to Gather Insights Without Your Listing Getting Stale Overexposed.

ONE | Santa Barbara/Alta Mesa | A spacious property perfect for student or other types of rental accommodation, with a multi-year record of successful student accommodation. The property boasts large, lush grounds; multiple private exterior entrances; parking space for some 12+ cars, and a maximum occupancy of up to 25.

Privately Offered at $3,595,000

A Compass Private Exclusive listing is an off-market home that can be shared by a Compass agent directly with their colleagues and their buyers. Property details are not disseminated widely and won’t appear on public home search websites.

Listing your home as a private exclusive allows you to control what information is shared about you and your home while still getting exposure to top agents at Compass.

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 January 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.