Market Report | South Santa Barbara County | November 2022r publication

Hello Family and Friends -

As we move quickly into the New Year we are enjoying spending time with family and friends and hope you are all doing the same!

The real estate market in the Santa Barbara/Montecito area has been noticeably quieter all year, but we can say for sure that there are many buyers looking for properties in our beautiful community. With the national headlines about economic uncertainty and downward market shifts, Montecito has defied the national trends and continued to increase in value with many affluent individuals buying here. Santa Barbara and Hope Ranch homes continue to sell and sell at high price points as well.

The inventory remains historically low which has been keeping prices up since there are not enough homes to meet demand. In fact, with only 57 Single Family Homes (SFH) sold during November - this has been the lowest level all year. Homeowners are still seeing positive YOY appreciation so we are optimistically expecting inventory to increase in 2023 with the busy holiday season behind us. Home ownership is still a solid hedge against inflation and an investment in your future!

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 November Sale at 465 Hot Springs Road Montecito $11,5000,000

- 40% All-Cash Sales

- 7 Homes Traded “Off Market”

- 6 Homes Traded Over $5M

- Closed Price is 95% to Final List Price

Market Statistic Overview November 2022 vs 2021 | Price is UP ↑ and Supply is DOWN ↓

- Total Active Listings Down -29%

- Told Sold Properties -34%

- Median Sales Price +14%

- New Listings Down -25%

- Sold Dollar Volume -28%

In this market, experience matters. If you’re thinking about making a move—don’t delay. Let us help you accomplish your goals in 2023. 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. Contact us to get ahead of your competition!

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 home sold and your offer accepted on your next property. 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!

SANTA BARBARA

BANDIT ENJOYING THE OUTSTANDING GARDENS AT THE SAN YSIDRO RANCH

MIRAMAR BEACH RESORT | MONTECITO

There are many advantages to investing in real estate. It often acts as a good inflation hedge since there will always be a demand for homes— regardless of the economic climate. Historically, as inflation rises, so do property values.

SOUTH SANTA BARBARA COUNTY MARKET REPORT | NOVEMBER 2022

SANTA AND HIS REINDEERS TAKING A MUCH NEEDED BREAK

SANTA BARBARA

CLIFF SIDE BLUFFS OVERLOOKING PACIFIC OCEAN | HOPE RANCH

SUMMERLAND BEACH | DRIFTWOOD ABUNDANCE | SUMMERLAND

SANTA BARBARA

SANDPIPER GOLF CLUB | 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 November 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.