June 2022
south
Real Estate Market Report
SANTA BARBARA COUNTY Residential
AS SUMMER HEATS UP is the market cooling off . . . not so fast!
2 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
THE COAST OF SANTA BARBARA | PHOTO CREDIT DAVID KAFER PHOTOGRAPHY
Hello Family and Friends -
Many home Buyers and Sellers who are following the national news, may have some concerns about the general economic environment and which direction the Real Estate market will take. One thing is clear, the Real Estate market is shifting. So what does this mean in Santa Barbara and Montecito?
Locally, there is still a strong desire to live in our beautiful community so our market remains robust with continuing high demand for quality properties—evidenced by 832 closed sales in the first half of this year. While this number is down 28% from the same time in 2021 (which was an outlier record year) it is in line with 2018 to 2020 (see graph). We are seeing that the current number of sales are tracking with what has been expected in our area. The median home price is a different story since it has skyrocketed to an elevated $2,272,000 for a SFH - compared to around $1.3M during 2018-2020 (see graph). The last two years have been remarkable and we will have to see what the future holds.
Although we are still in a slight Seller’s market, we are trending toward more inventory. With this brings increased competition, fewer multiple over-ask offers, more days on market and record numbers of price reductions than we have seen all year. Could Buyers regain negotiation leverage shortly? Sellers can still be optimistic since our market remains strong and we still see a window for sellers to capitalize on their appreciation with the ongoing demand.
If you are thinking of buying, make sure you know all the options including our Compass Private Exclusive properties (off-market inventory/pocket listings). When deciding to sell, homeowners now need to be realistic on pricing since we are seeing more and more price reductions each week. Buyers are sophisticated and understand value so you don’t want to be overlooked, then find your home sitting and becoming stale which often leads to a lower sales price. 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 - Let’s Talk!
Randy and Molly
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4 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022 AL FRESCO EVERY DAY | THIS IS HOW WE DO IT HERE IN SANTA BARBARA AVAILABLE PROPERTIES CLICK for inventory
5 - southSANTA BARBARA COUNTY SINGLE FAMILY RESIDENCES YTD TOTAL SALES -30% change over 2021 570 AVERAGE SALES PRICE +12% change over 2021 $3,488,234 MEDIAN SALES PRICE +18% change over 2021 $2,272,000 CONDOMINIUM HOMES YTD TOTAL SALES -24% change over 2020 253 AVERAGE SALES PRICE +15% change over 2021 $1,193,513 MEDIAN SALES PRICE +13% change over 2021 $931,777 HALF YEAR REPORT 2022 | In Review Single Family Residences + Condominiums -28% change over 2021 832
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SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
BANDIT | CHASE PALM PARK | BEACH SIDE SANTA BARBARA
7 - southSANTA BARBARA COUNTY JUNE 2022 | IN REVIEW Single Family Residences + Condominiums (combined sales) TOTAL SANTA BARBARA COUNTY SALES 147 -24% change over 2021 AVERAGE SALES PRICE | SFR +19% increase over 2021 $3,177,810 MEDIAN SALES PRICE | SFR +22% increase over 2021 $ 2,275,000
8 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022 - homes | estates | pudsTOTAL SALES YTD 2018-2022 * Excludes condominium homes.
9 - homes | estates | pudsMEDIAN SALES PRICE YTD 2018—2022 * Excludes condominium homes.
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SOUTH
SANTA BARBARA
COUNTY MARKET REPORT | JUNE 2022
LILLY POND SAN YSIDRO RANCH | MONTECITO
11 SINGLE FAMILY RESIDENCES TOTAL SALES 116 AVERAGE SALES PRICE $7,170,519 MEDIAN SALES PRICE $5,362,500 CONDOMINIUM HOMES TOTAL SALES 22 AVERAGE SALES PRICE $2,773,500 MEDIAN SALES PRICE $2,875,000 HALF YEAR REPORT 2022 | IN REVIEW Single Family Residences + Condominiums (separated sales) TOTAL YTD 2022 SALES 138 MONTECITO
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SOUTH
SANTA BARBARA
COUNTY MARKET REPORT | JUNE 2022
ROSEWOOD MIRAMAR BEACH HOTEL | MONTECITO
13 MONTECITO JUNE 2022 | IN REVIEW Single Family Residences + Condominiums (combined sales) TOTAL JUNE SALES 23 AVERAGE SALES PRICE +12% change from 2021 $4,947,837 MEDIAN SALES PRICE +30% change from 2021 $4,485,200 HIGHEST SALES PRICE 810 Buena Vista Drive Montecito CA 93108 $17,000,000 LOWEST SALES PRICE 1940 N Jameson Lane, A Montecito CA 93108 $1,400,000 Condo CLICK FOR REAL TIME MARKET DATA
TAKE AWAY | The latest data shows that inventory levels are on the rise, which could mean more moderate price appreciation and more options for buyers.
The slowing of home price growth is certainly a welcome change to the market. In theory, it should bring more balance to buyers and sellers and healthier housing market conditions.
14 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
Should I buy a home right now?
MONTECITO SALES | JUNE
Address List Price Sold Price % to List DOM
810 Buena Vista Drive $16,550,000 $17,000,000 103% 4 167 Pomar Lane $9,985,000 $9,782,800 98% 8 175 Miramar Avenue Off Market $6,900,000 100% 1 865 Romero Canyon Road $6,995,000 $6,750,000 96% 18 1526 Monte Vista Road $5,995,000 $6,400,000 116% 9 236 Las Entradas Drive $5,500,000 $6,000,000 109% 5 1155 Dulzura Drive $6,049,000 $5,500,000 91% 10 612 Cowles Road $5,450,000 $5,075,000 93% 25 400 Hot Springs Road $5,795,000 $4,800,000 83% 334 104 San Ysidro Road $4,250,000 $4,650,000 109% 3 1575 East Valley Road Off Market $4,500,000 100% 1 80 Chase Drive $4,775,000 $4,485,200 94% 11 621 Cowles Road $5,325,000 $4,250,000 80% 63 315 Calle Elegante $3,995,000 $4,019,000 100% 9 1382 Plaza Pacifica $3,650,000 $3,650,000 100% 1 86 Seaview Drive $2,800,000 $3,311,000 118% 13 1284 Spring Road, A $2,950,000 $3,050,000 103% 14 504 Hodges Lane $3,400,000 $3,000,000 88% 19 1341 Plaza De Sonadores $2,950,000 $2,875,000 97% 17 1920 Sycamore Canyon Rd $2,795,000 $2,512,253 90% 45 845 Woodland Drive $2,850,000 $2,340,000 82% 15 1220 Coast Village Rd., 108 $1,750,000 $1,550,000 88% 111 1940 N Jameson Lane, A $1,295,000 $1,400,000 108% 3
* DOM = Days on Market
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SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
PATH TO PARADISE | SANTA BARBARA
17 SINGLE FAMILY RESIDENCES TOTAL SALES 242 AVERAGE SALES PRICE $2,630,211 MEDIAN SALES PRICE $2,200,000 CONDOMINIUM HOMES TOTAL SALES 101 AVERAGE SALES PRICE $1,210,094 MEDIAN SALES PRICE $950,000 HALF YEAR REPORT 2022 | IN REVIEW Single Family Residences + Condominiums (separated sales) TOTAL YTD 2022 SALES 343 SANTA BARBARA
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SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
PATH TO PARADISE | SANTA BARBARA
19 JUNE 2022 | IN REVIEW Single Family Residences + Condominiums (combined sales) TOTAL JUNE SALES 63 SANTA BARBARA AVERAGE SALES PRICE +19% change from 2021 $2,108,803 MEDIAN SALES PRICE +15% change from 2021 $1,775,000 HIGHEST SALES PRICE 2044 Garden Street Santa Barbara CA 93109 $4,750,000 LOWEST SALES PRICE 4025 State Street, Unit 11 Santa Barbara CA 93105 $375,000 Condo CLICK FOR REAL TIME MARKET DATA
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SOUTH
SANTA
BARBARA COUNTY MARKET REPORT | JUNE 2022
CLIFF SIDE BLUFFS OVERLOOKING PACIFIC OCEAN | HOPE RANCH
21 SINGLE FAMILY RESIDENCES TOTAL SALES 20 AVERAGE SALES PRICE $7,726,073 MEDIAN SALES PRICE $5,937,500 CONDOMINIUM HOMES TOTAL SALES n/a AVERAGE SALES PRICE n/a MEDIAN SALES PRICE n/a HALF YEAR REPORT 2022 | IN REVIEW Single Family Residences + Condominiums (separated sales) TOTAL YTD 2022 SALES 20 HOPE RANCH
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SOUTH
SANTA BARBARA
COUNTY MARKET REPORT | JUNE 2022
CLIFF SIDE BLUFFS OVERLOOKING PACIFIC OCEAN | HOPE RANCH
23 HOPE RANCH JUNE 2022 | IN REVIEW Single Family Residences + Condominiums (combined sales) TOTAL JUNE SALES 5 AVERAGE SALES PRICE +42% change from 2021 $9,050,200 MEDIAN SALES PRICE +24% change from 2021 $7,800,000 HIGHEST SALES PRICE 4621 Via Roblada Hope Ranch CA 93110 $17,250,000 LOWEST SALES PRICE 210 Las Palmas Drive Hope Ranch CA 93110 $4,600,000 CLICK FOR REAL TIME MARKET DATA
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JUNE
SOUTH SANTA BARBARA COUNTY MARKET REPORT |
2022
SUMMERLAND BEACH | DRIFTWOOD ABUNDANCE | SUMMERLAND
25 SINGLE FAMILY RESIDENCES TOTAL SALES 8 AVERAGE SALES PRICE $3,424,375 MEDIAN SALES PRICE $2,475,000 CONDOMINIUM HOMES TOTAL SALES 3 AVERAGE SALES PRICE $1,306,667 MEDIAN SALES PRICE $1,075,000 HALF YEAR REPORT 2022 | IN REVIEW Single Family Residences + Condominiums (separated sales) TOTAL YTD 2022 SALES 11 SUMMERLAND
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SOUTH
SANTA BARBARA
COUNTY MARKET REPORT | JUNE 2022
SURF’S UP | SUMMERLAND BEACH
27 SUMMERLAND JUNE 2022 | IN REVIEW Single Family Residences + Condominiums (combined sales) TOTAL JUNE SALES 1 AVERAGE SALES PRICE +350% change from 2021 $10,200,000 MEDIAN SALES PRICE +316% change from 2021 $10,200,000 HIGHEST SALES PRICE 350 Greenwell Avenue Summerland, CA 93067 $10,200,000 LOWEST SALES PRICE 350 Greenwell Avenue Summerland, CA 93067 $10,200,000 CLICK FOR REAL TIME MARKET DATA
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MARKET REPORT | JUNE
SOUTH SANTA BARBARA COUNTY
2022
FARMERS MARKET | CARPINTERIA
29 SINGLE FAMILY RESIDENCES TOTAL SALES 38 AVERAGE SALES PRICE $2,510,723 MEDIAN SALES PRICE $1,607,500 CONDOMINIUM HOMES TOTAL SALES 39 AVERAGE SALES PRICE $845,936 MEDIAN SALES PRICE $815,500 Q1 REPORT 2022 | IN REVIEW Single Family Residences + Condominiums (separated sales) TOTAL YTD 2022 SALES 77 CARPINTERIA
30 SOUTH
COUNTY MARKET REPORT | JUNE 2022
SANTA BARBARA
THE WORLD’S SAFEST BEACH + BANDIT | CARPINTERIA
31 CARPINTERIA JUNE 2022 | IN REVIEW Single Family Residences + Condominiums (combined sales) TOTAL JUNE SALES 12 AVERAGE SALES PRICE +124% change from 2021 $2,224,000 MEDIAN SALES PRICE +83% change from 2021 $1,287,500 HIGHEST SALES PRICE 1984 Arriba Street Carpinteria CA 93013 $5,620,000 LOWEST SALES PRICE 5750 Via Real, Space 241 Carpinteria CA 93013 $459,000 Manufactured Home CLICK FOR REAL TIME MARKET DATA
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SANTA BARBARA
COUNTY MARKET REPORT | JUNE 2022
SANDPIPER GOLF CLUB | GOLETA
33 SINGLE FAMILY RESIDENCES TOTAL SALES 155 AVERAGE SALES PRICE $1,768,208 MEDIAN SALES PRICE $1,600,000 CONDOMINIUM HOMES TOTAL SALES 88 AVERAGE SALES PRICE $939,668 MEDIAN SALES PRICE $875,000 HALF YEAR REPORT 2022 | IN REVIEW Single Family Residences + Condominiums (separated sales) TOTAL YTD 2022 SALES 243 GOLETA
34 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
BUTTERFLY PRESERVE + PATH TO SANTA BARBARA SHORES COUNTY PARK | GOLETA
35 GOLETA JUNE 2022 | IN REVIEW Single Family Residences + Condominiums (combined sales) TOTAL JUNE SALES 43 AVERAGE SALES PRICE +19% change from 2021 $1,578,930 MEDIAN SALES PRICE +14% change from 2021 $1,400,000 HIGHEST SALES PRICE 4488 La Paloma Avenue Goleta CA 93117 $4,700,000 LOWEST SALES PRICE 520 Pine Street, Space 76 Goleta CA 93110 $230,000 Manufactured Home CLICK FOR REAL TIME MARKET DATA
36 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022 1990 TULAROSA ROAD | LOMPOC CA 93436 Santa Ynez Valley AVA | Sweeping Mountain Views 40± Acres | Zoned RR-10 1529± SF Home | 5,000± SF Warehouse Offered at 2,499,000 / Pending Exclusive Offering by Randy Haden/Molly Haden
37 SINGLE FAMILY RESIDENCES TOTAL SALES 115 AVERAGE SALES PRICE $2,148,396 MEDIAN SALES PRICE $1,550,000 CONDOMINIUM HOMES TOTAL SALES 14 AVERAGE SALES PRICE $650,571 MEDIAN SALES PRICE $638,000 HALF YEAR REPORT 2022 | IN REVIEW Single Family Residences + Condominiums (separated sales) TOTAL YTD 2022 SALES 129 SANTA YNEZ VALLEY
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.
38 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
Listing
COMPASS PRIVATE EXCLUSIVE LISTINGS Ask Us About Our Exciting Private Exclusive Listings | Contact Us Live For details!
Private Exclusive
home
A Compass
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
search websites.
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.
40 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022 RANDY HADEN Broker Associate / Realtor DRE 01988499 805.880.6530 randy@hadenhomes.com LET’S CONNECT www.hadenhomes.com @hadenhomesrealtors $ 100M + Total Sales 1% Top 1% of Agents CHOOSE experience MOLLY HADEN Realtor / Marketing Director DRE 02020380 805.880.6540 molly@hadenhomes.com
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.
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CHICAGO TITLE FIDELITY NATIONAL TITLE SANTA BARBARA MLS
42 SOUTH SANTA BARBARA COUNTY MARKET REPORT | JUNE 2022
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 June 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.