Q1 | 2020
Santa Barbara | Santa Ynez Valley
Market Update
MONTECITO
Barton Myers Work of Art Offered at $7,500,000 | 770Ladera.com
Montecito, Santa Barbara, and Santa Ynez Valley Brokerages montecito coast village road
805.969.9993
montecito east valley road
805.969.5005
/
Michael Cohen Vice President & Brokerage Manager santa barbara
805.963.1391
santa ynez valley
805.688.4200
All data within this document is pulled from the Santa Barbara MLS and North Santa Barbara County MLS. 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. 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. Equal housing opportunity.
a message from
Michael Cohen
Vice President, Brokerage Manager No one will be able to fully predict the effect the COVID-19 pandemic will have on the real estate market, but at Sotheby’s International Realty, the health and safety of our agents, clients, employees and community is our #1 priority. We invite you to review a summary of sales activity in the Santa Barbara and the Santa Ynez Valley Region during the first quarter of 2020, based on closed production from January – March 2020, much of which went into contract before the onset of the COVID-19 pandemic. The Santa Barbara MLS and North Santa Barbara County MLS reports the following market data: - In the first quarter of 2020, Santa Barbara saw a 5% increase in the total number of homes sold. - In the first quarter of 2020, Montecito saw a 53% increase in the total number of homes sold, from 32 sold properties to 49. - Santa Ynez saw a 5% increase in total volume sold in the first quarter of 2020 compared to the prior year. Real estate is all about location, and location is our local community. Here are a few local organizations which you can help in Santa Barbara County: - The Santa Barbara Foundation, The United Way of Santa Barbara County, and Hutton Parker Foundation, are leading a COVID-19 Joint Response Effort to address the needs of individuals and families in Santa Barbara County community affected by the COVID-19 pandemic. To Donate to the COVID-19 Joint Response Effort, click here. - The Foodbank of Santa Barbara County is ensuring the nutritional health of all residents of Santa Barbara County during the COVID-19 pandemic. Guided by their Disaster Feeding Plan, the Foodbank has increased food distribution, implemented social distancing, in addition to their usual food safety and sanitation procedures, and are delivering needed groceries to seniors in our community. To Donate to the FoodBank of Santa Barbara County, click here. - The Unity Shoppe in Downtown Santa Barbara wants you to know that, “It’s only as a CommUNITY that we will get through this.” The Unity Shoppe is seeing an increase in food requests, with many new people coming in. Help our friends and neighbors in our community by donating food or clothing. To Donate to the Unity Shoppe, click here. - Veggie Rescue of Santa Ynez Valley collects excess produce and high-quality prepared food from farms, farmers’ markets, backyards and businesses, then distributes directly to schools and organizations serving those in need, at no cost to the recipient. Now, with many sheltering in place rather than venturing to the markets during the COVID-19 pandemic, there is more surplus than ever before. To Donate to Veggie Rescue, click here. During this unprecedented time, we are continuing to represent clients who want or need to sell a home and our local teams are working hard continuing to conduct the business of real estate. We are committed to providing the highest quality service and will to continue to support our buyers and sellers using state-of-the-art technology and a suite of virtual marketing tools which make it easy to view and experience the finest real estate in the world from the safety of one’s home. From the comfort of your home, I invite you discover more information online at sothebyshomes.com. If Sotheby’s International Realty can be of service to you, please call me at 805.969.9993 so that I may personally introduce you to a local expert.
dre
phone
1161377
Michael.Cohen@sothebyshomes.com
805 969 9993
Santa Barbara sothebyshomes.com/santabarbara
Santa Ynez Valley sothebyshomes.com/santaynez
Santa Barbara 04 06
Market Snapshot | All Areas
08 10
16
Carpinteria | Summerland Montecito
12 14
Featured Properties
Santa Barbara Hope Ranch Goleta
Santa Ynez Valley 18 20 22 24 26 28
Featured Properties Market Snapshot | All Areas Santa Ynez
Ballard | Solvang Los Olivos Buellton
MONTECITO
Featured Properties We invite you to explore our exclusive offerings at S OT HEBYSHO M ES.C O M /SA NTA BA R BA RA
MONTECITO
Fernald Point Lane Offered at $9,900,000 | 1639FernaldPoint.com
MONTECITO
Offered at $75,000,000 RanchoSanCarlosEstate.com MONTECITO
Offered at $10,000,000 736Toro.com MONTECITO
Offered at $4,250,000 284SantaRosa.com MONTECITO
Offered at $2,495,000 540ElBosque.com *in order from left to right, top to bottom
sothebyshomes.com/santabarbara
7
/ Montecito Featured Properties / Santa Barbara Q1 Market Update
Market Snapshot Santa Barbara | Q1 2020
Highlight: Total Units Sold Highlight -units vs ASP Carpinteria & Summerland
Goleta
$2.5
450
$2.0
400
Carp-Summerland Montecito
Monteci$1.5 to
350
Santa Barbara
Hope Ranch
Hope Ranch $1.0
300
Goleta $0.5
250
$0.0
200
Santa Barbara
*Price in Millions
Total Units Sold 44 49 166 6 89
2016 2017 2018 2019 2020
Average Selling Price vs. Total Units Sold
Carpinteria | Summerland
Average Selling Price
Montecito
Total Units Sold
Santa Barbara Hope Ranch Goleta
Five Year Comparison
Carpinteria | Summerland, Montecito, Santa Barbara Hope Ranch, and Goleta
$7 $6 $5 $4 $3 $2 $1 $0 *Price in Millions
2016
2017
2018
2019
2020
Average Selling Price Over Five Years by Area
Carpinteria | Summerland
Montecito
Santa Barbara
Hope Ranch
9
Goleta
/ Q1 Market Snapshot / Santa Barbara Q1 Market Update
at a glance {Q1 | 2020}
carpinteria | summerland
-37
%
Change in Average Selling Price {2020 v 2019}
7
%
Change in Units Sold {2020 v 2019}
44 Units Sold
1
$ m Average Selling Price
|
Average Selling Price Total Units Sold $1,800,000
60
$1,600,000
50
$1,400,000 $1,200,000
40
$1,000,000
30
$800,000 $600,000
20
$400,000
10
$200,000 $0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Carpinteria & Summerland Carpinteria is graciously situated where the Pacific meets the idyllic beach town and foothills of the area. The hillside-lined homes of Summerland boast views of the coastline and the Channel Islands. sothebyshomes.com/santabarbara
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-41%
-37%
7%
7%
2020
$1,057,040
$1,025,469
59
44
2019
$1,791,559
$1,618,478
55
41
2018
$892,830
$862,380
56
30
2017
$1,195,552
$1,153,567
55
52
2016
$696,751
$676,295
36
37
Q1 {2020 v 2019}
Change
11
/ Carpinteria | Summerland / Santa Barbara Q1 Market Update
|
Average Selling Price Total Units Sold $6,000,000
70
$5,000,000
60 50
$4,000,000
40 $3,000,000 30 $2,000,000
20
$1,000,000
10
$0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Montecito One of the most world-renowned areas in which to live, Montecito emulates sophisticated elegance in every way. Bungalows, traditional homes, and estates stretch from the beach to the foothills and are surrounded by native eucalyptus trees and stunning views. sothebyshomes.com/santabarbara
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-44%
-41%
-16%
53%
2020
$3,379,831
$3,092,735
112
49
2019
$6,039,961
$5,232,061
134
32
2018
$4,258,658
$3,845,388
125
38
2017
$3,891,217
$3,538,363
126
46
2016
$4,277,913
$4,055,923
85
63
Q1 {2020 v 2019}
Change
Santa Barbara Q1 Market Update / Montecito / 12
at a glance {Q1 | 2020}
montecito
-41
%
Change in Average Selling Price {2020 v 2019}
53
%
Change in Units Sold {2020 v 2019}
49 Units Sold
3.1m
$
Average Selling Price
at a glance {Q1 | 2020}
santa barbara
-4
%
Change in Average Selling Price {2020 v 2019}
5
%
Change in Units Sold {2020 v 2019}
166 Units Sold
1.3m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,400,000
170
$1,350,000
165
$1,300,000 160
$1,250,000 $1,200,000
155
$1,150,000 150
$1,100,000 $1,050,000
145
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Santa Barbara Known as the American Riviera, Santa Barbara’s alluring landscape is the perfect culmination of mountains and ocean mixed with soaring palm trees, a storied Spanish heritage, and relaxed sophistication. sothebyshomes.com/santabarbara
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-5%
-4%
12%
5%
2020
$1,349,534
$1,320,826
67
166
2019
$1,417,412
$1,375,016
60
158
2018
$1,345,515
$1,320,135
27
165
2017
$1,249,278
$1,208,915
61
164
2016
$1,207,691
$1,173,217
50
152
Q1 {2020 v 2019}
Change
15
/ Santa Barbara / Santa Barbara Q1 Market Update
|
Average Selling Price Total Units Sold $7,000,000
18 16
$6,000,000
14
$5,000,000
12
$4,000,000
10
$3,000,000
8 6
$2,000,000
4
$1,000,000
2
$0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Hope Ranch Hope Ranch sits above a beautiful stretch of the Pacific coast with homes overlooking the ocean. A rare gem, with a wonderful blend of fine estates, incredible architecture, horseback riding trails, and private beach access makes this area exceptional. sothebyshomes.com/santabarbara
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-40%
-41%
-29%
-33%
2020
$3,972,333
$3,784,888
58
6
2019
$6,673,111
$6,424,667
82
9
2018
$4,427,063
$4,109,794
158
16
2017
$3,073,667
$2,915,880
154
15
2016
$6,008,500
$5,301,250
43
4
Q1 {2020 v 2019}
Change
Santa Barbara Q1 Market Update / Hope Ranch / 16
at a glance {Q1 | 2020}
hope ranch
-41
%
Change in Average Selling Price {2020 v 2019}
-33
%
Change in Units Sold {2020 v 2019}
6
Units Sold
3.8m
$
Average Selling Price
at a glance {Q1 | 2020}
goleta
-28
%
Change in Average Selling Price {2020 v 2019}
-23
%
Change in Units Sold {2020 v 2019}
89 Units Sold
1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,600,000
140
$1,400,000
120
$1,200,000
100
$1,000,000
80
$800,000 60
$600,000
40
$400,000
20
$200,000 $0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Goleta Goleta, known as the “Goodland,� offers an incredible lifestyle with excellent beaches, schools, and outdoor living. Views abound throughout the area of the Santa Ynez Mountains and the Channel Islands. sothebyshomes.com/santabarbara
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-34%
-28%
19%
-23%
2020
$1,085,516
$1,047,250
57
89
2019
$1,653,001
$1,463,537
47
115
2018
$873,658
$864,935
44
92
2017
$880,344
$859,968
50
115
2016
$709,681
$697,307
34
91
Q1 {2020 v 2019}
Change
19
/ Goleta / Santa Barbara Q1 Market Update
SANTA YNEZ VALLEY
Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/SANTAYNE Z
SANTA YNEZ
Quail H Ranch Offered at $16,500,000 | 1162AlisosRoad.com
SANTA YNEZ
Offered at $8,900,000 1430CountFleet.com SOLVANG
Offered at $3,850,000 2109RandomOaks.com SANTA YNEZ
Offered at $2,850,000 3235CalleBonita.com SOLVANG
Offered at $1,350,000 241ValhallaDrive.com *in order from left to right, top to bottom
sothebyshomes.com/santaynez
21
/ Santa Ynez Valley Featured Properties / Santa Ynez Valley Q1 Market Update
Market Snapshot
Highlight: Santa YnezTotal Valley |Units Q1 2020Sold
Highlight -units vs ASP
Santa Ynez
$1.2 $1.0
Buellton
$0.8 $0.6
Ballard & Solvang
Los Olivos
80 70
Santa Ynez Ballard & Solvang Los Olivos Buellton
60 50 40 30
$0.4
20 $0.2
10
$0.0 *Price in Millions
Total Units Sold 12 30 5 21
0
2016 2017 2018 2019 2020
Average Selling Price vs. Total Units Sold
Santa Ynez
Average Selling Price
Ballard | Solvang
Total Units Sold
Los Olivos Buellton
Five Year Comparison Santa Ynez Valley
$2.0
$1.5
$1.0
$0.5
$0.0 *Price in Millions
2016
2017
2018
2019
2020
Average Selling Price Over Five Years by Area
Santa Ynez
Ballard | Solvang
Los Olivos
23
Buellton
/ Q1 Market Snapshot / Santa Ynez Valley Q1 Market Update
at a glance {Q1 | 2020}
santa ynez
-4
%
Change in Average Selling Price {2020 v 2019}
9
%
Change in Units Sold {2020 v 2019}
12 Units Sold
1.5m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,800,000
25
$1,600,000 20
$1,400,000 $1,200,000
15
$1,000,000 $800,000
10
$600,000 $400,000
5
$200,000 $0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Santa Ynez Characterized by golden hills and iconic oak trees, Santa Ynez spans the Santa Ynez Valley including homes in the small township to ranches and ranchettes, vineyard and equestrian estates - each incredibly unique. sothebyshomes.com/santaynez
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-4%
-4%
2%
9%
2020
$1,599,408
$1,522,250
123
12
2019
$1,674,727
$1,589,040
121
11
2018
$1,499,895
$1,447,675
166
20
2017
$1,198,389
$1,133,222
200
18
2016
$1,375,231
$1,265,462
220
13
Q1 {2020 v 2019}
Change
25
/ Santa Ynez / Santa Ynez Valley Q1 Market Update
|
Average Selling Price Total Units Sold $1,400,000
40
$1,200,000
35 30
$1,000,000
25
$800,000
20 $600,000
15
$400,000
10
$200,000
5
$0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Ballard | Solvang The town of Solvang, known for its rich Danish heritage, is surrounded by homes ranging from ranch-style to estates with views for miles. Nestled in the heart of the Valley, the quaint town of Ballard is comprised of bungalows, ranches, and one of the most sought after school districts in the area. sothebyshomes.com/santaynez
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-22%
-23%
-3%
50%
2020
$969,196
$925,773
137
30
2019
$1,236,820
$1,200,050
141
20
2018
$983,077
$950,642
101
31
2017
$828,329
$789,178
144
34
2016
$753,963
$724,074
143
27
Q1 {2020 v 2019}
Change
Santa Ynez Valley Q1 Market Update / Ballard | Solvang / 26
at a glance {Q1 | 2020}
ballard | solvang
-23
%
Change in Average Selling Price {2020 v 2019}
50
%
Change in Units Sold {2020 v 2019}
30 Units Sold
900k
$
Average Selling Price
at a glance {Q1 | 2020}
los olivos
-14
%
Change in Average Selling Price {2020 v 2019}
-29
%
Change in Units Sold {2020 v 2019}
5
Units Sold
1.2m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,600,000
8
$1,400,000
7
$1,200,000
6
$1,000,000
5
$800,000
4
$600,000
3
$400,000
2
$200,000
1
$0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Los Olivos The charming town of Los Olivos is made up of fine restaurants, local vineyards’ tasting rooms, and boutiques with bungalows close to town and ranches spread across the area’s rolling hills. sothebyshomes.com/santaynez
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-20%
-14%
-90%
-29%
2020
$1,212,600
$1,187,000
21
5
2019
$1,519,843
$1,373,571
207
7
2018
$699,000
$633,000
116
1
2017
$1,174,333
$1,151,667
99
3
2016
$1,243,213
$1,137,689
149
6
Q1 {2020 v 2019}
Change
29
/ Los Olivos / Santa Ynez Valley Q1 Market Update
|
Average Selling Price Total Units Sold $700,000
25
$600,000
20
$500,000 $400,000
15
$300,000
10
$200,000 5
$100,000 $0
0
2016
2017
2018
2019
Average Selling Price
2020
Total Units Sold
About
Buellton The west side of the Valley, Buellton is home to some of the most stunning vineyards in the area, beautiful riding trails, and a thriving community that is constantly evolving. sothebyshomes.com/santaynez
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
10%
10%
-16%
31%
2020
$535,957
$531,404
51
21
2019
$487,794
$483,380
61
16
2018
$506,655
$500,525
154
16
2017
$629,336
$605,250
139
14
2016
$481,688
$474,219
156
16
Q1 {2020 v 2019}
Change
Santa Ynez Valley Q1 Market Update / Buellton / 30
at a glance {Q1 | 2020}
buellton
10
%
Change in Average Selling Price {2020 v 2019}
31
%
Change in Units Sold {2020 v 2019}
21 Units Sold
500k
$
Average Selling Price
Thank You.
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Sotheby’s International Realty® is a registered trademark. Operated by Sotheby’s International Realty, Inc.