Market Report | South Santa Barbara County | October 2022

Hello Family and Friends - With the Holiday Season upon us - we look forward to spending quality time with family and friends and hope you are all doing the same!

The real estate market in the Santa Barbara/Montecito area remains robust. While inventory remains historically low, it has been keeping prices steadily up since there are not enough homes to meet demand. In fact, with only 70 Single Family Homes (SFH) sold during October - this has been the lowest level of October sales since 2016. We are optimistically expecting inventory to increase going forward and still feel that home ownership is a solid hedge against inflation. Real estate is more than just a place to call home—it’s an investment in your future!

We are making our final plans for what we want to achieve in 2022, including whether or not you want to move this year. So, is it really a good time to sell your house . . . or should you wait? Here are three reasons to consider selling before the holidays.

OCTOBER HIGHLIGHTS

Sale: Canyon Park Road $21,900,000

Traded “Off Market”

Multi-Units/4 Homes)

Traded Over $5M

highest for 1st time)

Market is longest in Category Price is 95% to List Price All-Cash Sales

Get One Step Ahead of Other Sellers | Many homeowners are less likely to list now because people get busy and deprioritize selling until next year. Being on the market now, while others hold off can help your house stand out.

Get in Front of Serious Buyers This Season | Buyer demand remains high here and the available inventory remains low. Buyers who need to purchase are looking and your house may be exactly what they’re searching for.

Seize a Great Chance To Move Up | Today’s homeowners have record amounts of equity—an all time high so we have never seen a better time to sell. The equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams or be a nice addition to your investment portfolio.

If you’re thinking about making a move—don’t delay. Let us help you accomplish your goals this winter. 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!

Buyers—make sure you know all your options including Compass Private Exclusive properties (off-market inventory/pocket listings). Working with local representation who knows the inventory and neighborhoods and has the inside track on what’s coming up that might fit your needs is essential to making an informed investment.

In this market, experience matters. We offer concierge level professional service to our clients with worldclass 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

SANTA

BANIDT TRICK-OR-TREATING | THE PUPPY PATROL FOUND HIM GUILTY OF STEALING HEARTS!

SANTA

LILLY PONT AT THE SAN YSIDRO RANCH | 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 | OCTOBER

Address List Price Sold Price % to List DOM

568 Toro Canyon Road $13,499,000 $11,350,000 84% 64 2347 East Valley Road $6,250,000 $5,600,000 90% 89 1300 Plaza Pacifica $5,495,000 $5,000,000 91% 49

1123 Camino Viejo $4,285,000 $4,600,000 107% 2 860 Ladera Lane $3,600,000 $3,148,820 87% 91

1396 Danielson Road $2,500,000 $3,025,000 121% 3 239 Rametto Road $3,450,000 $2,840,000 82% 84 317 Alston Road $2,195,000 $2,300,000 105% 17

* DOM = Days on Market

SANTA BARBARA

EAST BEACH STROLL | SANTA BARBARA

SANTA BARBARA

CLIFF SIDE BLUFFS OVERLOOKING PACIFIC OCEAN | HOPE RANCH

SUMMERLAND BEACH | DRIFTWOOD ABUNDANCE | SUMMERLAND

22 SOUTH SANTA BARBARA COUNTY MARKET REPORT | OCTOBER 2022

BUTTERFLY PRESERVE + PATH TO 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 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 October 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.