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
carpinteria | Summerland AVerage Sale Price | Total SFH Sold | Q4
About the Area The oceanside city of Carpinteria has its own special character and is known as a residential
$1,800,000
56
$1,600,000
54
$1,400,000
52
$1,200,000
50
$1,000,000
48
$800,000
46
and agricultural gem with gorgeous bluffs
$600,000
overlooking the ocean and beautiful beaches.
$400,000
44
$200,000
42
$0
40 2009
2010
2011
2012
Average Sale Price
single family homes | Q4
2009
2010
2011
2013
Total SFH Sold
2012
% Change (2013 v 2012)
2013
Average List Price
$1,851,204
$1,554,763
$546,066
$1,144,110
$1,196,879
5%
Average Sold Price
$1,683,322
$1,305,883
$513,499
$1,085,218
$1,106,443
2% -6%
Total SFH Sold
Discount Ratio
45
54
50
52
49
91%
90%
94%
97%
95%
hope ranch AVerage Sale Price | Total SFH Sold | Q4 $5,000,000
12
$4,500,000 10
$4,000,000 $3,500,000
About the Area
$3,000,000
The palm-lined community of Hope Ranch is a
$2,500,000
world of its own. Hope Ranch properties have
$2,000,000
spectacular views of both the mountains and
$1,500,000
the ocean. A wonderful blend of fine estates,
$1,000,000
Hope Ranch remains one of the great gems of
8
6
4
2
$500,000
gracious living in the Santa Barbara area.
$0
0 2009
2010 Average Sale Price
single family homes | Q4
2011
2012
2013
Total SFH Sold
2012
2013
% Change (2013 v 2012)
$4,463,250
$2,965,714
$3,505,000
18%
$3,791,025
$2,845,571
$3,285,833
15%
7
6
7
6
-14%
92%
93%
83%
100%
2009
2010
2011
Average List Price
$4,558,800
$5,391,429
Average Sold Price
$3,976,900
$4,452,143
Total SFH Sold
10
Discount Ratio
88%
montecito | santa barbara | carpinteria - Summerland | hope ranch | Goleta
montecito AVerage Sale Price | Total SFH Sold | q4 $4,000,000
100
$3,500,000
90 80
$3,000,000
70
$2,500,000
60
About the Area
$2,000,000
50
The community of Montecito offers a
$1,500,000
40
serene retreat and boasts tree-lined
30
streets with lavish estates, many of which
20
are architecturally significant, including
10
English-style manor houses and elegant
0
contemporary homes that stretch from
$1,000,000 $500,000 $0 2009
2010
2011
Average Sale Price
2012
2013
the beach up into the foothills. Elegance is exuded in every detail of its stunning
Total SFH Sold
surroundings and relaxed atmosphere. single family homes | Q4
2009
2010
Average List Price
$2,683,321
$2,961,498
Average Sold Price
$2,435,906
$2,612,919
2011
% Change (2013 v 2012)
2012
2013
$2,054,312
$3,106,825
$3,789,046
22%
$1,905,244
$2,837,098
$3,411,546
20% -42%
Total SFH Sold
45
57
41
86
50
Discount Ratio
87%
90%
93%
95%
95%
goleta AVerage Sale Price | Total SFH Sold | Q4 $1,000,000
140
$900,000
120
$800,000 $700,000
100
$600,000
80
About the Area Goleta lies approximately 15 miles west of
$500,000 $400,000
60
Santa Barbara. Formerly home to acres of
$300,000
40
avocados, lemons and oranges, Goleta real
$200,000
estate is built among the few remaining
20
$100,000 $0
productive groves. Goleta enjoys fabulous communities, beaches, schools, and
0 2009
2010 Average Sale Price
2011
2012
2013
outdoor living. Views abound throughout
Total SFH Sold
the area of the Santa Ynez Mountains and the Channel Islands.
single family homes | Q4
2009
2010
2011
2012
2013
% Change (2013 v 2012)
Average List Price
$759,888
$730,119
$599,208
$644,639
$930,367
44%
Average Sold Price
$723,468
$696,106
$566,522
$634,162
$890,605
40% 2%
Total SFH Sold
132
98
103
131
133
Discount Ratio
97%
96%
95%
93%
99%
sothebyshomes.com/santabarbara
ON THE MARKET FEATURED PROPERTy
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE
Montecito, CA
in metropolitan markets
Price: $4,200,000 Agent: Harry Kolb
Houston, Sugar Land
harry.kolb@sothebyshomes.com 805.452.2500
Enjoy ocean and views from this classic Mediterranean-style home located in Montecito, in the prestigious gated community of Ennisbrook. Set on an approx. half-acre lot, this highly appointed 3-bedroom plus office, 4.5-bath home features approx. 4,523 sq.ft. of expansive public rooms with vaulted, beamed ceilings, and elegant antique fixtures. Perfect for entertaining, the gourmet kitchen is open to the family room and ideal for gatherings, featuring granite countertops, a professional-grade range and a butcher block kitchen island. The expansive living room with a large arched leaded window, fireplace and French doors opens to the formal dining room with a wall of French doors. A dramatic tower leads to the second-floor master bedroom suite with tiled terrace, and ocean and garden views.
NEW YORK
Los Angeles
5 br / 5 ba / 2 hf ba $4,950,000 3 br / 2 ba / 1 hf ba $5,350,000 6 br / 9 ba $5,800,000
in resort markets
SANTA FE
PALM BEACH
5 br / 5 ba / 2 hf ba $4,800,000
3 br / 4 ba / 1 hf ba $4,700,000 5 br / 4 ba $5,195,000
Ventura
in foreign markets
South Africa
Puerto Rico
6 br / 6 ba $5,186,242
5 br / 5 ba / 2 hf ba $4,400,000 5 br / 4 ba / 1 hf ba Price Upon Request
at sotheby’s auction
Songye“Four Horn” Community Power Figure The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000
Australia
sothebys.com
The Pink Star Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30