Santa Barbara Market Update | Q4 2016

Montecito, CA | web: 0114083

Santa Barbara Market Update Fourth 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 | Q4

$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0 2012

2013

Montecito

Santa Barbara

2014

Carpinteria | Summerland

2015

Hope Ranch

Goleta

2016

Santa Ynez

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4

$4,000,000

100 90

$3,500,000

80

$3,000,000

MONTECITO

70

$2,500,000

The community of Montecito offers a serene retreat and boasts tree-lined streets with lavish estates, many of which are architecturally

60

$2,000,000

50 40

$1,500,000

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

$3,096,977

$3,798,987

$3,057,238

$3,645,469

$3,243,432

-11%

AVERAGE SALE PRICE

$2,828,281

$3,422,400

$2,867,950

$3,418,449

$3,073,649

-10%

TOTAL SFH SOLD

87

52

40

48

44

-8%

DISCOUNT RATIO

91%

90%

94%

94%

95%

SINGLE FAMILY HOMES | Q4

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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 | Q4

$1,400,000

250

$1,600,000

54

$1,400,000

200 52

$1,200,000

CARPINTERIA / SUMMERLAND

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

50

$1,000,000

150

$800,000 $800,000

48

$600,000

46

$600,000

The oceanside city of Carpinteria has its own

$400,000

special character and is known as a residential

$200,000 $400,000

and agricultural gem with gorgeous bluffs

100

44 42 50

$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

$1,127,145

$1,196,879

$1,153,215

$1,441,163

$1,041,753

-28%

AVERAGE SALE PRICE

$1,069,271

$1,106,443

$1,094,373

$1,376,077

$1,002,314

-27%

TOTAL SFH SOLD

53

49

52

46

51

11%

DISCOUNT RATIO

95%

92%

95%

95%

96%

SINGLE FAMILY HOMES | Q4

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $6,000,000

9 8

$5,000,000 7

HOPE RANCH

$4,000,000

The palm-lined community of Hope Ranch is a

$3,000,000

6 5

world of its own. Hope Ranch properties have spectacular views of both the mountains and the ocean. A wonderful blend of fine estates, Hope

4 $2,000,000

3 2

$1,000,000 1

Ranch remains one of the great gems of gracious 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

$3,051,250

$3,505,000

$2,589,125

$5,825,714

$3,208,333

-45%

AVERAGE SALE PRICE

$2,946,125

$3,285,833

$2,364,750

$5,306,929

$3,161,667

-40%

TOTAL SFH SOLD

8

6

8

7

3

-57%

DISCOUNT RATIO

97%

94%

91%

91%

99%

SINGLE FAMILY HOMES | Q4

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

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4

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

350

$1,200,000

300

$1,000,000

250

250

$1,200,000

SANTA BARBARA

200

$1,000,000 200

$800,000

Known as the American Riviera, Santa Barbara is

$800,000

truly one of California’s most vibrant and beautiful

$600,000

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 Mountains and the majestic palm trees.

150

150

$600,000 $400,000

100 100

$400,000 $200,000

50

$0 $200,000

0 2012

2013

$0

2014

Average Sale Price

2010

2011

2012

Average Sale Price

2015

50

2016

0

Total SFH Sold

2013

2014

Total SFH Sold

2012

2013

2014

2015

2016

% Change (2016 v 2015)

AVERAGE LIST PRICE

$754,325

$1,030,376

$1,107,189

$1,166,523

$1,236,449

6%

AVERAGE SALE PRICE

$735,734

$1,006,316

$1,077,634

$1,132,848

$1,192,776

5%

TOTAL SFH SOLD

323

193

195

170

205

21%

DISCOUNT RATIO

98%

98%

97%

97%

96%

SINGLE FAMILY HOMES | Q4

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4

140

$1,000,000 $900,000

135

$800,000

GOLETA

$700,000

130

$600,000

125

Goleta lies approximately 15 miles west of

$500,000

Santa Barbara. Formerly home to acres of

$400,000

120

$300,000

115

avocados, lemons and oranges, Goleta real

$200,000

estate is built among the few remaining

$100,000

productive groves. Goleta enjoys fabulous

110

$0

105 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

$640,489

$950,738

$665,336

$789,058

$835,594

6%

AVERAGE SALE PRICE

$630,294

$905,158

$654,807

$786,301

$819,735

4%

TOTAL SFH SOLD

133

135

116

129

125

-3%

DISCOUNT RATIO

98%

95%

98%

100%

98%

SINGLE FAMILY HOMES | Q4

sothebyshomes.com/santabarbara

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4

60

$1,000,000 $900,000

50

$800,000

SANTA YNEZ

$700,000

40

$600,000

The Santa Ynez Valley is home to many world-

30

$500,000

renown vineyards and wineries as well as

$400,000

recognized horse breeding ranches. Other local

$300,000

attractions include the majestic Los Padres

20

$200,000

10

$100,000

National Forest, Old Mission Santa Inez, golf

$0

0 2012

courses, and the historic Carriage House Museum

2013

2014

Average Sale Price

that depicts relics of Santa Ynez’s past as a stage

2015

2016

Total SFH Sold

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

$768,926

$665,730

$893,673

$848,461

$905,317

7%

AVERAGE SALE PRICE

$711,143

$631,481

$843,748

$804,237

$864,427

7%

TOTAL SFH SOLD

35

27

40

44

48

9%

DISCOUNT RATIO

92%

95%

94%

95%

95%

SINGLE FAMILY HOMES | Q4

FEATURED LISTINGS STUNNING MONTECITO CONTEMPORARY Montecito, CA

Web ID: 0632555 | $6,200,000 Walled and gated, this exquisite contemporary style home is located in the private Riven Rock community in the heart of Montecito.

Montecito Upper Village Road Brokerage Sandy Stahl | 805.689.1602

EXQUISITE MEDITERRANEAN ESTATE Santa Barbara, CA Web ID: 0593085 | $3,795,000 Designed and built as the premier property for the developer in 2005, this estate offers panoramic ocean/ mountain and island views in the gated community of La Romana Estates.

Santa Barbara Brokerage Paula Goodwin | 805.451.5699

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 0138486 | $5,250,000 GREENWICH, CT | Web: 0068267 | $5,300,000 SAN FRANCISCO, CA | Web: 0088189 | $5,695,000 RESORT MARKETS MONTECITO, CA | Web: 0114072 | $5,500,000 HAMPTONS, NY | Web: 0046575 | $5,500,000 NAPA VALLEY, CA | Web: 0244257 | $5,699,000 FOREIGN MARKETS BELGIUM | Web: HCGGW9 | 4.950.000 € GREECE | Web: SN3KDB | Price Upon Request SWITZERLAND | Web: YMDRPZ | 5’200’000 CHF sothebysrealty.com

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