Santa Barbara Market Update | Q4 2014

Montecito, CA | web: 0592884

Santa Barbara Market Update Fourth Quarter 2014 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 - Goleta North.

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 2010 Montecito

2011 Santa Barbara

2012

2013

Carpinteria | Summerland

2014

Hope Ranch

Goleta

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4

SANTA BARBARA

$1,200,000 $1,400,000

350 250

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

300

200 250

$800,000 $1,000,000

Known as the American Riviera, Santa Barbara is

$600,000 $800,000

truly one of California’s most vibrant and beautiful

$600,000 $400,000

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.

200 150 150

100 100

$400,000 $200,000

5050

$200,000 $0 $0

0 2010

2011

2010

2012

2011 2012 Average Sale Price Average Sale Price

2013

2013 Total SFH Sold

2014

0

2014

Total SFH Sold

2010

2011

2012

2013

2014

% Change (2014 v 2013)

AVERAGE LIST PRICE

$963,936

$832,840

$754,325

$1,030,376

$1,107,787

8%

AVERAGE SOLD PRICE

$908,473

$783,318

$735,734

$1,006,316

$1,078,309

7%

TOTAL SFH SOLD

149

172

323

193

193

0%

DISCOUNT RATIO

94%

94%

98%

98%

97%

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

250 55

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

54

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

CARPINTERIA / SUMMERLAND

200 53

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

52

$800,000 $800,000 $600,000

51 150 50

The oceanside city of Carpinteria has its own

$600,000 $400,000

special character and is known as a residential

49 100 48

$200,000 $400,000

and agricultural gem with gorgeous bluffs

$0 $200,000

overlooking the ocean and beautiful beaches.

47 50 46 2010

2011

$0 2010

2012

2013

2014

Average Sale Price 2011 2012

Total SFH Sold 2013

2014

Average Sale Price

0

Total SFH Sold

2010

2011

2012

2013

2014

% Change (2014 v 2013)

AVERAGE LIST PRICE

$1,554,763

$546,066

$1,127,145

$1,196,879

$1,153,215

-4%

AVERAGE SOLD PRICE

$1,305,883

$513,499

$1,069,271

$1,106,443

$1,094,373

-1%

TOTAL SFH SOLD

54

50

53

49

52

6%

DISCOUNT RATIO

84%

94%

95%

92%

95%

SINGLE FAMILY HOMES | Q4

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $5,000,000

9

$4,500,000

8

$4,000,000

7

$3,500,000

HOPE RANCH

6

$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 the

$1,500,000

ocean. A wonderful blend of fine estates, Hope

$1,000,000

Ranch remains one of the great gems of gracious living in the Santa Barbara area.

5 4 3 2 1

$500,000 $0

0 2010

2011

2012

Average Sale Price

2013

2014

Total SFH Sold

2010

2011

2012

2013

2014

% Change (2014 v 2013)

AVERAGE LIST PRICE

$5,391,429

$4,463,250

$3,051,250

$3,505,000

$2,589,125

-26%

AVERAGE SOLD PRICE

$4,452,143

$3,791,025

$2,946,125

$3,285,833

$2,364,750

-28%

TOTAL SFH SOLD

7

6

8

6

8

33%

DISCOUNT RATIO

83%

85%

97%

94%

91%

SINGLE FAMILY HOMES | Q4

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

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $4,000,000

100

$3,500,000

90 80

$3,000,000

MONTECITO

70

$2,500,000

60

The community of Montecito offers a serene

$2,000,000

50

retreat and boasts tree-lined streets with lavish

$1,500,000

40

estates, many of which are architecturally

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 2010

Elegance is exuded in every detail of its stunning

2011

2012

Average Sale Price

surroundings and relaxed atmosphere.

2013

2014

Total SFH Sold

2010

2011

2012

2013

2014

% Change (2014 v 2013)

AVERAGE LIST PRICE

$2,961,498

$2,054,312

$3,096,977

$3,798,987

$3,057,238

-20%

AVERAGE SOLD PRICE

$2,612,919

$1,905,244

$2,828,281

$3,422,400

$2,867,950

-16%

TOTAL SFH SOLD

57

41

87

52

40

-23%

DISCOUNT RATIO

88%

93%

91%

90%

94%

SINGLE FAMILY HOMES | Q4

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4 $1,000,000

160

$900,000

140

$800,000

120

GOLETA

$700,000 $600,000

100

Goleta lies approximately 15 miles west of

$500,000

80

$400,000

60

Santa Barbara. Formerly home to acres of avocados, lemons and oranges, Goleta real estate is built among the few remaining

$300,000

40

$200,000

20

$100,000

productive groves. Goleta enjoys fabulous

$0

0 2010

communities, beaches, schools, and outdoor

2011

2012

Average Sale Price

living. Views abound throughout the area of

2013

2014

Total SFH Sold

the Santa Ynez Mountains and the Channel Islands.

2010

2011

2012

2013

2014

% Change (2014 v 2013)

AVERAGE LIST PRICE

$730,119

$599,208

$640,489

$950,738

$667,482

-30%

AVERAGE SOLD PRICE

$696,106

$566,522

$630,294

$905,158

$656,692

-27.5%

TOTAL SFH SOLD

98

103

133

135

113

-16%

DISCOUNT RATIO

95%

95%

98%

95%

98%

SINGLE FAMILY HOMES | Q4

sothebyshomes.com/santabarbara

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 0137477 | $3,350,000 HOUSTON, TX | Web: 1231893 | $3,150,000 SAN FRANCISCO, CA | Web: 0086812 | $3,195,000 RESORT MARKETS MALIBU, CA | Web: 1290076 | $3,295,000 PALM BEACH, FL | Web: 0076514 | $3,400,000 SANTA BARBARA, CA | Web: 0632314 | $3,200,000 FOREIGN MARKETS ISRAEL | Web: FZMR3K | $3,838,575 ENGLAND | Web: MQYOM4 | $3,505,219 MEXICO | Web: ZPWPDR | $3,250,000 sothebyshomes.com | sothebysrealty.com

SANTA BARBARA AREA SIGNIFICANT SALES | Q4 2014

MONTECITO | Montecito Valley Views | Offered at $5,900,000 | Montecito - Coast Village Road | Bob Lamborn 805.689.6800 | Bob represented the buyer.

SANTA BARBARA | Artful Architecture | Offered at $4,990,000

SANTA BARBARA | Ocean View | Offered at $4,285,000

MONTECITO | California Living | Offered at $3,995,000

Montecito - Coast Village Road | Suzanne Perkins 805.895.2138 Suzanne represented the seller.

Montecito - Coast Village Road | Maureen McDermut 805.570.5545 Maureen McDermut represented the seller.

Montecito - Upper Village Brokerage | Wade Hansen 805.689.9682 Wade represented the buyer.

SANTA BARBARA | On the Riviera | Offered at $3,950,000

MONTECITO | Sought-after Location | Offered at $3,495,000

SANTA YNEZ | Double J Ranch | Offered at $3,495,000

Santa Barbara | M. Calcagno 805.896.0876, N. Hamilton 805.451.4442 Michael & Nancy represented the seller.

Montecito - Coast Village Road | Kathleen St. James 805.705.0898 Kathleen St James represented the seller.

Santa Ynez Valley | Patty Murphy 805.680.8571 Patty represented the seller.

SANTA BARBARA | La Vista Views | Offered at $3,375,000

VENTURA | Cape Cod-Style | Offered at $3,200,000

MONTECITO | Luxury Residences | Offered at $3,050,000

Montecito - Coast Village Road | Nick Svensson 805.895.2957 Nick represented the buyer.

Montecito - Coast Village Road | Janet Caminite 805.896.7767 Janet represented the seller.

Santa Barbara | M. Calcagno 805.896.0876, N. Hamilton 805.451.4442 Michael & Nancy represented the seller.

SANTA BARBARA AREA SIGNIFICANT SALES | Q4 2014

MONTECITO | Montecito Farmhouse | Offered at $2,995,000

CARPINTERIA | Equestrian Retreat | Offered at $2,950,000

Montecito - Upper Village Brokerage | Cristal Clarke 805.886.9378 Cristal represented the seller.

Montecito - Coast Village Road | Suzanne Perkins 805.895.2138 Santa Barbara | Adam McKaig 805.452.6884 Suzanne represented the seller. Adam represented the buyer.

SANTA BARBARA | Tropical Retreat | Offered at $2,950,000 Montecito - Coast Village Road | Michelle Cook 805.570.3183, Bob Lamborn 805.689.6800, Maureen McDermut 805.570.5545 Michelle & Bob represented the seller. Maureen represented the buyer.

SANTA BARBARA | Neo Classical-style | Offered at $2,895,000

SANTA BARBARA | Classic Estate | Offered at $2,849,000

MONTECITO | Upper Village | Offered at $2,825,000

Montecito - Coast Village Road | Marilyn Rickard 805.452.8284 Marilyn represented the buyer.

Montecito - Coast Village Road | Janet Caminite 805.896.7767 Janet Caminite represented the seller.

Montecito - Coast Village Road | Nick Svensson 805.895.2957 Nick represented the seller.

MONTECITO | Luxury Residences | Offered at $2,600,000

MONTECITO | Montecito View Home | Offered at $2,575,000

Santa Barbara | M. Calcagno 805.896.0876, N. Hamilton 805.451.4442 Michael & Nancy represented the seller.

Montecito - Upper Village Brokerage | Cristal Clarke 805.886.9378 Cristal represented the seller.

SANTA BARBARA | Botanical Gardens Retreat | Offered at $2,495,000 Montecito - Coast Village Road | Jennifer Berger 805.451.5484 Santa Barbara Brokerage | Frank Hotchkiss 805.403.0668 Jennifer represented the seller. Frank represented the buyer.

SANTA BARBARA | Stunning Las Alturas | Offered at $2,350,000

SANTA BARBARA | Mediterranean-Style | Offered at $2,220,000

SANTA BARBARA | Hope Ranch Opportunity | Offered at $2,120,000

Montecito - Coast Village Road | Bob Lamborn 805.689.6800 Bob represented the seller.

Montecito - Upper Village Brokerage | Diane Randall 805.705.5252 Diane represented the buyer.

Santa Barbara | J. Krautmann 805.451.4527, D. McKnight 805.637.7772 Jay & Darcie represented the buyer.

Masterpieces in the Making

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