MARKET UPDATE | Q4 2013 santa barbara
five years of Average selling Prices | q4 $5,000,000 $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
A MESSAGE FROM OUR MANAGER: Greg Tice Well, 2013 was quite a year. As the second year of recovery for real estate, I think the biggest factors in 2013 were improvements in sales prices and continued low interest rates. As a district, Santa Barbara experienced more than 35 percent yearover-year growth compared to Q4 2012. However, in many neighborhoods, such as the Mesa, San Roque and Samarkand, prices for the nicest properties were nearly identical to prices in 2007. The buyers who were brave enough to buy in 2009-2011 are now being rewarded for buying at the bottom of the market. But with interest rates still historically low, buyers still have a window of opportunity to capitalize on current market conditions.
santa barbara brokerages
2009
2010
Montecito
Santa Barbara
2011
2012
Carpinteria | Summerland
2013
Hope Ranch
Goleta
Santa Barbara About the Area Known as the American Riviera, Santa Barbara is truly one of California’s most vibrant and beautiful 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. AVerage Sale Price | Total SFH Sold | q4 $1,200,000
350
$1,000,000
300
$800,000 $600,000
montecito Coast Village Road Brokerage 1106 Coast Village Road | t. 805.969.9993
$400,000
montecito upper village Brokerage 1482 East Valley Road Road | t. 805.969.5005
$200,000 $0
Santa barbara Brokerage 1436 State Street | t. 805.963.1391
$4,500,000
80
$4,000,000
70
$3,500,000
60
$3,000,000
50
$2,500,000
30
$1,500,000
20
$1,000,000
$0
20102009
2008
2011
2010
Average Sale Average SalePrice Price
2011
2012 2012
0
All data within this document is pulled from the Santa Barbara MLS. Areas include from Carpinteria - Goleta North.
0
2013
% Change (2013 v 2012)
$755,989
$1,033,714
37%
$737,253
$1,008,811
37%
172
320
190
-41%
95%
95%
98%
2010
2011
2012
Average List Price
$944,465
$963,936
$832,840
Average Sold Price
$903,799
$908,473
$783,318
162
149
94%
95%
Discount Ratio
50
Total Total SFH SoldSFH Sold
2009
Total SFH Sold
100
2013
santa ynez valley Brokerage 2900 Nojoqui Ave | t. 805.688.4200 Greg Tice, Senior Vice President & Brokerage Manager 805.969.9993 | greg.tice@sothebyshomes.com
150
10
$500,000
single family homes | Q4
200
40
$2,000,000
2009
250