Q2 | 2020
Santa Barbara | Santa Ynez Valley
Market Update
MONTECITO
Iconic Masterwork by Barton Myers Offered at $8,200,000 | 949ToroCanyon.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
As we continue to navigate these unprecedented times, the health and safety of our community is our top priority. We quickly adapted to conduct business and support our clients looking to buy, sell or rent homes by virtual technology. We invite you to review a summary of sales activity in the Santa Barbara and Santa Ynez Region during the second quarter of 2020, based on closed production from April - June 2020. The Santa Barbara MLS and North Santa Barbara County MLS report the following market data for this quarter, which is compared here for the same period of 2019. Closed sales from the second quarter do not tell a complete story regarding the housing recovery in Santa Barbara and Santa Ynez Region. Heading into the third quarter, we wanted to bring your attention to additional positive indicators: - Santa Barbara’s average sales price remained consistent at $1.3M in Q2 2020 compared to Q2 2019 - The average sales price in Montecito rose 7%, from $4.3M in Q2 2019 to $4.7M in Q2 2020 - The average selling price in Santa Ynez increased 98% year over year, from $1.1M to $2.2M Like always, we are committed to providing the highest quality service and will to continue to support our clients with a suite of virtual marketing tools that are proving effective with buyers today. We hope you find this market report to be a valuable resource and we look forward to working with you to meet your real estate needs. If you have any questions about the Santa Barbara and Santa Ynez Region market, please do not hesitate to reach out to me or any of our associates at 805.969.9993.
dre
phone
1161377
Michael.Cohen@sothebyshomes.com
805 969 9993
Santa Barbara sothebysrealty.com
Santa Ynez Valley sothebysrealty.com
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
SANTA BARBARA
Featured Properties We invite you to explore our exclusive offerings at Ssothebysrealty.com OT HEBYSHO M ES.C O M /SA NTA BA R BA RA
MONTECITO
Beachfront Contemporary Offered at $9,975,000 | 1811FernaldPoint.com
MONTECITO
Offered at $75,000,000 RanchoSanCarlosEstate.com MONTECITO
Offered at $9,850,000 1954EastValleyRd.com MONTECITO
Offered at $5,785,000 2222EVR.com SANTA BARBARA
Offered at $4,995,000 1301WestMountain.com *in order from left to right, top to bottom
sothebysrealty.com
7
/ Santa Barbara Featured Properties / Santa Barbara Q2 Market Update
Market Snapshot
Santa Barbara | Q2 2020
Highlight: Total Units Sold Highlight -units vs ASP
Carpinteria & Summerland $2.0
600
$1.8
550
$1.6
Goleta
Carp-Summerland $1.4 Montecito
Hope Ranch
$1.2 to Monteci
450
$1.0Barbara Santa
400
$0.8 Hope Ranch
350
$0.6 Goleta
300
$0.4
Santa Barbara
250
$0.2 $0.0
200
*Price in Millions
Total Units Sold 27 63 127 7 87
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
500
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
/ Q2 Market Snapshot / Santa Barbara Q2 Market Update
at a glance {Q2 | 2020}
carpinteria | summerland
-56
%
Change in Average Selling Price {2020 v 2019}
-46
%
Change in Units Sold {2020 v 2019}
27 Units Sold
800k
$
Average Selling Price
|
Average Selling Price Total Units Sold $2,000,000
70
$1,800,000
60
$1,600,000 $1,400,000
50
$1,200,000
40
$1,000,000 $800,000
30
$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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-59%
-56%
-74%
-46%
2020
$788,853
$761,931
27
27
2019
$1,917,101
$1,749,842
104
50
2018
$1,024,256
$982,613
42
62
2017
$1,268,353
$1,205,219
61
49
2016
$1,037,006
$1,000,169
47
66
Q2 {2020 v 2019}
Change
11
/ Carpinteria | Summerland / Santa Barbara Q2 Market Update
|
Average Selling Price Total Units Sold $4,500,000
80
$4,000,000
70
$3,500,000
60
$3,000,000
50
$2,500,000
40
$2,000,000
30
$1,500,000 $1,000,000
20
$500,000
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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
10%
7%
46%
53%
2020
$4,677,095
$4,251,829
127
49
2019
$4,269,941
$3,976,387
87
32
2018
$3,371,329
$3,169,070
103
38
2017
$3,744,344
$3,513,939
117
46
2016
$3,633,982
$3,448,892
117
63
Q2 {2020 v 2019}
Change
Santa Barbara Q2 Market Update / Montecito / 12
at a glance {Q2 | 2020}
montecito
7
%
Change in Average Selling Price {2020 v 2019}
-7
%
Change in Units Sold {2020 v 2019}
63 Units Sold
4.3m
$
Average Selling Price
at a glance {Q2 | 2020}
santa barbara
0
%
Change in Average Selling Price {2020 v 2019}
-43
%
Change in Units Sold {2020 v 2019}
127 Units Sold
1.3m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,320,000
300
$1,300,000
250
$1,280,000
200
$1,260,000 150 $1,240,000 100
$1,220,000 $1,200,000
50
$1,180,000
0
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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
0%
0%
-38%
-43%
2020
$1,332,109
$1,291,277
37
127
2019
$1,328,831
$1,293,278
60
224
2018
$1,319,921
$1,293,263
39
233
2017
$1,326,589
$1,299,297
54
254
2016
$1,256,069
$1,222,900
45
237
Q2 {2020 v 2019}
Change
15
/ Santa Barbara / Santa Barbara Q2 Market Update
|
Average Selling Price Total Units Sold $7,000,000
14
$6,000,000
12
$5,000,000
10
$4,000,000
8
$3,000,000
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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-7%
-13%
31%
-42%
2020
$4,247,714
$3,670,198
144
7
2019
$4,571,500
$4,212,138
110
12
2018
$6,322,222
$5,794,222
207
9
2017
$2,526,125
$2,374,275
79
8
2016
$2,836,444
$2,651,667
112
9
Q2 {2020 v 2019}
Change
Santa Barbara Q2 Market Update / Hope Ranch / 16
at a glance {Q2 | 2020}
hope ranch
-13
%
Change in Average Selling Price {2020 v 2019}
-42
%
Change in Units Sold {2020 v 2019}
7
Units Sold
3.7m
$
Average Selling Price
at a glance {Q2 | 2020}
goleta
-8
%
Change in Average Selling Price {2020 v 2019}
-42
%
Change in Units Sold {2020 v 2019}
87 Units Sold
900k
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,050,000
180 160
$1,000,000
140
$950,000
120 100
$900,000
80
$850,000
60 40
$800,000
20
$750,000
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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-7%
-8%
19%
-42%
2020
$929,981
$911,107
36
87
2019
$1,002,420
$991,765
30
149
2018
$902,189
$895,835
32
153
2017
$1,020,034
$978,216
33
162
2016
$869,250
$854,884
25
141
Q2 {2020 v 2019}
Change
19
/ Goleta / Santa Barbara Q2 Market Update
SANTA YNEZ VALLEY
Featured Properties We invite you to explore our exclusive offerings at
sothebysrealty.com
SANTA YNEZ
Quail H Ranch Offered at $12,900,000 | 1162AlisosRoad.com
SANTA YNEZ
Offered at $7,999,000 5999FoxenCanyon.com SOLVANG
Offered at $3,850,000 2109RandomOaks.com SOLVANG
Offered at $1,300,000 950AlamoPintadoRoad.com SANTA YNEZ
Offered at $800,000 BrinkerhoffAvenueLand.com *in order from left to right, top to bottom
sothebysrealty.com
21
/ Santa Ynez Valley Featured Properties / Santa Ynez Valley Q2 Market Update
Market Snapshot
Santa YnezTotal Valley |Units Q2 2020Sold Highlight:
Highlight -units vs ASP
$1.4
Buellton
$1.2
Santa Ynez $1.0
100 90
Santa Ynez Ballard & Solvang Los Olivos
$0.8
Buellton
$0.6
Los Olivos
10 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
50
20 $0.2
*Price in Millions
17 18 1 15
60
30
$0.0
Total Units Sold
70
40
$0.4
Ballard & Solvang
80
Five Year Comparison Santa Ynez Valley
$3.0 $2.5 $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
/ Q2 Market Snapshot / Santa Ynez Valley Q2 Market Update
at a glance {Q2 | 2020}
santa ynez
98
%
Change in Average Selling Price {2020 v 2019}
-15
%
Change in Units Sold {2020 v 2019}
17 Units Sold
2.2m
$
Average Selling Price
|
Average Selling Price Total Units Sold $3,000,000
30
$2,500,000
25
$2,000,000
20
$1,500,000
15
$1,000,000
10
$500,000
5
$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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
123%
98%
135%
-15%
2020
$2,627,106
$2,216,159
160
17
2019
$1,178,200
$1,121,288
68
20
2018
$1,959,040
$1,847,575
144
25
2017
$1,590,409
$1,478,375
136
22
2016
$2,741,545
$2,611,182
227
22
Q2 {2020 v 2019}
Change
25
/ Santa Ynez / Santa Ynez Valley Q2 Market Update
|
Average Selling Price Total Units Sold $960,000
50
$940,000
45 40
$920,000
35
$900,000
30
$880,000
25
$860,000
20 15
$840,000
10
$820,000
5
$800,000
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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-2%
-3%
12%
-56%
2020
$976,111
$913,198
131
18
2019
$996,093
$945,105
117
41
2018
$891,420
$851,533
102
44
2017
$915,511
$875,638
129
40
2016
$964,918
$920,289
109
41
Q2 {2020 v 2019}
Change
Santa Ynez Valley Q2 Market Update / Ballard | Solvang / 26
at a glance {Q2 | 2020}
ballard | solvang
-3
%
Change in Average Selling Price {2020 v 2019}
-56
%
Change in Units Sold {2020 v 2019}
18 Units Sold
900k
$
Average Selling Price
at a glance {Q2 | 2020}
los olivos
-31
%
Change in Average Selling Price {2020 v 2019}
-67
%
Change in Units Sold {2020 v 2019}
1
Units Sold
600k
$
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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
-16%
-31%
-18%
-67%
2020
$795,000
$603,000
114
1
2019
$942,667
$870,417
139
3
2018
$927,500
$911,250
49
2
2017
$1,498,571
$1,436,071
63
7
2016
$980,000
$980,000
153
1
Q2 {2020 v 2019}
Change
29
/ Los Olivos / Santa Ynez Valley Q2 Market Update
|
Average Selling Price Total Units Sold $900,000
25
$800,000 20
$700,000 $600,000
15
$500,000 $400,000
10
$300,000 $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. sothebysrealty.com
Average List Price
Average Selling Price
Average Days on Market
Total Units Sold
45%
44%
12%
-21%
2020
$800,327
$764,260
93
15
2019
$551,021
$531,941
83
19
2018
$814,694
$796,412
99
17
2017
$775,619
$754,225
61
20
2016
$642,056
$616,556
105
18
Q2 {2020 v 2019}
Change
Santa Ynez Valley Q2 Market Update / Buellton / 30
at a glance {Q2 | 2020}
buellton
44
%
Change in Average Selling Price {2020 v 2019}
-21
%
Change in Units Sold {2020 v 2019}
15 Units Sold
800k
$
Average Selling Price
PHOTO BY GIAMMARCO BOSCARO ON UNSPLASH
w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com
AUCTION • RETAIL • ADVISORY New York Hong Kong London
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