Santa Barbara Market Update | Q2 2016

Montecito, CA | web:0632513

Santa Barbara Market Update Second Quarter 2016 SANTA BARBARA BROKERAGES Montecito - Coast Village Road Brokerage | t. 805.969.9993 Montecito - Upper Village Brokerage | t. 805.969.5005 Santa Barbara Brokerage | t. 805.963.1391 Santa Ynez Valley Brokerage | t. 805.688.4200

sothebyshomes.com All data within this document is pulled from the Santa Barbara MLS. Areas include from Carpinteria - Santa Ynez.

FIVE YEARS OF AVERAGE SELLING PRICES | Q2

$4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2012

2013

Montecito

Santa Barbara

2014

Carpinteria | Summerland

2015

Hope Ranch

Goleta

2016

Santa Ynez

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2 $4,000,000

100 90

$3,500,000

80

$3,000,000

MONTECITO

70

$2,500,000

The community of Montecito offers a serene

$2,000,000

retreat and boasts tree-lined streets with lavish

$1,500,000

estates, many of which are architecturally

60 50 40 30

$1,000,000

significant, including English-style manor houses and elegant contemporary homes that stretch from the beach up into the foothills.

20

$500,000

10

$0

0 2012

Elegance is exuded in every detail of its stunning

2013

2014

Average Sale Price

surroundings and relaxed atmosphere.

2015

2016

Total SFH Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE LIST PRICE

$3,356,208

$2,995,087

$4,083,912

$3,963,701

$3,677,222

-7%

AVERAGE SALE PRICE

$3,078,335

$2,852,497

$3,742,004

$3,718,629

$3,490,538

-6%

TOTAL SFH SOLD

88

79

68

67

54

-19%

DISCOUNT RATIO

92%

95%

92%

94%

95%

SINGLE FAMILY HOMES | Q2

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission.

Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

$1,400,000

250

$1,800,000

80

$1,200,000 $1,600,000

CARPINTERIA / SUMMERLAND

70

200

$1,400,000

60

$1,000,000

$1,200,000

50

150

$1,000,000

$800,000

40

$800,000

30

$600,000 $600,000

The oceanside city of Carpinteria has its own special character and is known as a residential and agricultural gem with gorgeous bluffs

$400,000

100 20

$400,000 $200,000

10 050

$0

$200,000

overlooking the ocean and beautiful beaches.

2012

2013

2014

Average Sale Price

$0 2010

2011

2015

2016

Total SFH Sold

2012

Average Sale Price

0

2013

2014

Total SFH Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE LIST PRICE

$1,256,377

$647,626

$1,631,904

$879,323

$1,032,191

17%

AVERAGE SALE PRICE

$1,114,040

$639,227

$1,525,136

$859,219

$996,710

16%

TOTAL SFH SOLD

47

73

50

72

65

-10%

DISCOUNT RATIO

89%

99%

93%

98%

97%

SINGLE FAMILY HOMES | Q2

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2 $4,500,000

12

$4,000,000 10 $3,500,000

HOPE RANCH

$3,000,000

8

$2,500,000

The palm-lined community of Hope Ranch is a world of its own. Hope Ranch properties have spectacular views of both the mountains and the ocean. A wonderful blend of fine estates, Hope Ranch remains one of the great gems of gracious

6 $2,000,000 $1,500,000

4

$1,000,000 2 $500,000

living in the Santa Barbara area.

$0

0 2012

2013

2014

Average Sale Price

2015

2016

Total SFH Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE LIST PRICE

$2,338,000

$2,967,143

$2,698,667

$4,314,909

$2,836,444

-34%

AVERAGE SALE PRICE

$2,113,150

$2,869,030

$2,554,722

$4,016,500

$2,651,667

-34%

TOTAL SFH SOLD

5

7

9

11

9

-18%

DISCOUNT RATIO

90%

97%

95%

93%

93%

SINGLE FAMILY HOMES | Q2

CARPINTERIA - SUMMERLAND | SANTA BARBARA | HOPE RANCH | MONTECITO | GOLETA | SANTA YNEZ

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

$1,400,000 $1,400,000

270

$1,200,000

260

250

$1,200,000

200

$1,000,000

SANTA BARBARA

250

$1,000,000 $800,000

Known as the American Riviera, Santa Barbara is

$800,000

150 240

truly one of California’s most vibrant and beautiful

$600,000

230

$400,000 $200,000

220

$0 $200,000

210

cities. The alluring landscape is enhanced by the red-tiled roofs of homes, the foliage of its Spanish heritage, the striking backdrop of the Santa Ynez

$600,000

100

$400,000

50

2012

Mountains and the majestic palm trees.

2013

$0

2014

Average Sale Price

2010

2011

2012

Average Sale Price

2015

2016

0

Total SFH Sold

2013

2014

Total SFH Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE LIST PRICE

$850,393

$999,346

$1,195,462

$1,209,249

$1,236,581

2%

AVERAGE SALE PRICE

$821,714

$983,431

$1,171,269

$1,175,868

$1,203,969

2%

TOTAL SFH SOLD

238

264

229

256

233

-9%

DISCOUNT RATIO

97%

98%

98%

97%

97%

SINGLE FAMILY HOMES | Q2

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

$900,000

180

$800,000

160

$700,000

140

$600,000

120

$500,000

100

Goleta lies approximately 15 miles west of

$400,000

80

Santa Barbara. Formerly home to acres of

$300,000

60

avocados, lemons and oranges, Goleta real

$200,000

40

estate is built among the few remaining

$100,000

20

GOLETA

productive groves. Goleta enjoys fabulous

$0

0 2012

2013

communities, beaches, schools, and outdoor

2014

Average Sale Price

2015

2016

Total SFH Sold

living. Views abound throughout the area of the Santa Ynez Mountains and the Channel Islands.

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE LIST PRICE

$618,823

$755,439

$766,436

$755,434

$870,664

15%

AVERAGE SALE PRICE

$596,954

$749,917

$757,087

$753,350

$856,483

14%

TOTAL SFH SOLD

164

166

140

169

136

-20%

DISCOUNT RATIO

96%

99%

99%

100%

98%

SINGLE FAMILY HOMES | Q2

sothebyshomes.com/santabarbara

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

SANTA YNEZ

$1,400,000

60

$1,200,000

50

$1,000,000

40

$800,000

The Santa Ynez Valley is home to many world-

$600,000

renown vineyards and wineries as well as

$400,000

recognized horse breeding ranches. Other local

$200,000

30 20 10

$0

attractions include the majestic Los Padres

0 2012

National Forest, Old Mission Santa Inez, golf

2013

2014

Average Sale Price ASP

courses, and the historic Carriage House Museum

2015

2016

Total SFH Sold

that depicts relics of Santa Ynez’s past as a stage coach stop. Santa Ynez Valley real estate includes luxury homes and equestrian properties.

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE LIST PRICE

$707,325

$1,035,906

$908,070

$1,279,462

$1,177,167

-8%

AVERAGE SALE PRICE

$669,683

$973,257

$857,257

$1,185,547

$1,097,202

-7%

TOTAL SFH SOLD

30

35

40

40

57

43%

DISCOUNT RATIO

95%

94%

94%

93%

93%

SINGLE FAMILY HOMES | Q2

FEATURED LISTINGS GRAND HILLTOP ESTATE | Santa Barbara, CA Web ID: 0114018 | $16,750,000 The Graholm Estate is one of the original magnificent Santa Barbara hilltop estates from the last century, taking full advantage of the majestic views of the Pacific Ocean, Santa Barbara Harbor, and Montecito Valley from its approx. 7.43-acre hilltop perch.

Montecito Coast Village Road Brokerage Suzanne Perkins | 805.895.2138, Janet Caminite | 805.896.7767

SANTA BARBARA ITALIAN VILLA | Santa Barbara, CA Web ID: 0593051 | $8,400,000 In all of Santa Barbara and perhaps anywhere in the world, there is no more unique property with panoramic ocean views, ever changing mountain views and setting that exists at this Italian-style villa in Mission Canyon.

State Street Brokerage Willilam Reed | 805.896.3002

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 0138486 | $5,600,000 LOS ANGELES, CA | Web: 0308644 | $5,555,000 HOUSTON, TX | Web: 1233885 | $5,495,000 RESORT MARKETS MONTECITO, CA | Web: 0113991 | $5,950,000 SONOMA, CA | Web: 0244108 | $5,850,000 EAST HAMPTON, NY | Web: 0047323 | $4,995,000 FOREIGN MARKETS ISRAEL | Web: WPKBBF | $5,973,871 THAILAND | Web: 3WLKEC | $5,700,000 IBIZA | Web: RCQ57V | $5,508,569 sothebysrealty.com

AUCTION CALENDAR JUL | AUG | SEPT 2016

Old Master and British Works on Paper Including drawings from the Oppé Collection London 05-06 July Celebration of the English Watch Part II: John Harrison’s Enduring Discovery London 07 July Victorian, Pre-Raphaelite & British Impressionist Art London 14 July Contemporary Living New York 28 July RM Sotheby’s: Motor City Michigan 30 July

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com Enquiries +1 212 606 7000. Sotheby’s 72 & York Register now at sothebys.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2016

RM Sotheby’s: Monterey Monterey 19 August A Unique Crystal Magnum Decanter of Special Louis XIII Cognac Engraved with a Map of the Americas & Finest & Rarest Wines New York 09-10 September Asia Week New York 13-17 September Important Jewels New York 22 September Contemporary Curated New York 29 September

CRYSTAL MAGNUM DECANTER OF UNIQUE LOUIS XIII COGNAC AMERICAS EDITION Estimate $100,000+ New York 10 September An Asia and Europe edition were also commissioned and will be offered in Hong Kong on 1 October and in London on 16 November, respectively