Return to Dan's Home Page
Meet Daniel Encell
Dan's current listings
Services for Buyers & Sellers
Information about the Santa Barbara area
Market information for the Santa Barbara area
Success with Dan Encell
Dan in the Media
Search the Multiple Listing Service
Contact Dan
 

2023 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter

2022 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2021 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2020 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2019 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2018 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2017 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2016 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2015 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2014 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2013 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2012 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2011 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2010 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2009 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2008 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2007 ARCHIVES

1st Quarter
2nd Quarter
3rd Quarter
4th Quarter

2006 ARCHIVES

1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter

2005 ARCHIVES

1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter

2004 ARCHIVES
1st Quarter
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter
2003 ARCHIVES
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
2002 ARCHIVES
COMING SOON
2001 ARCHIVES
COMING SOON
2000 ARCHIVES
1st Quarter
2nd Quarter
2nd Quarter Economic Forecast
1999 ARCHIVES
1st Quarter
2nd Quarter
3rd Quarter
1998 ARCHIVES
1st Quarter
2nd Quarter
Economic Forecast
2nd Quarter Article
3rd Quarter
4th Quarter
1997 ARCHIVES
2nd Quarter
Economic Forecast
3rd Quarter
4th Quarter
1996 ARCHIVES
2nd Quarter
3rd Quarter
1995 ARCHIVES
3rd Quarter

 

Daniel Encell’s
Quarterly Real Estate Update
~ Archives ~

2020 – The Year In Review

Nationwide
The national real estate market finished 2020 with tremendous strength and momentum. Sales were frenzied – up 25% from 2019 levels. Inventory declined to record-low levels – down over 20% from late 2019. Strong demand and limited selection led prices to soar, as median sale price rose nearly 15%. December marked 106 straight months of year-over-year price gains. Low interest rates and remote-work opportunities helped propel Buyer demand for housing. According to the National Association of Realtors (NAR) “The positive momentum that home sellers are seeing will carry on well into the new year.” NAR’s expectation is for the median home price to increase another 8% in 2021.

Santa Barbara - South Coast
2020 ended up being the biggest year ever for local real estate. More sales and higher prices resulted in well over $3.5 billion in local sales volume! Sales increased in almost every community along the South Coast, as the Number Sold rose 12% to 1915. Inventory also climbed as Total Active Listings rose 14% to 2176. Overall, Sold Volume jumped 30% to $3,571,815,223. On average, properties along the South Coast sold for 96% of their last list price – an increase of 1% compared to a year ago. The largest sale for the year was 2500 East Valley Road which sold for $63,250,000.

Montecito
Montecito real estate was frenetic in 2020 as post-pandemic Buyers left larger cities in droves for more rural communities. Fueled by strong demand from both Los Angeles and Bay Area Buyers, sales in Montecito skyrocketed as the Number Sold jumped 68% to 351. Total Active Listings increased 50% to 425, but this was still not nearly enough to keep up with increased demand. Median Sale Price rose 6% to $3,050,000. Average Sale Price also rose 6%* to $4,123,412*. Overall, Sold Volume climbed 81%* to $1,447,317,932*. On average, properties in Montecito sold for 93% of their last list price – an increase of 1% compared to a year ago. The largest sale in Montecito during 2020 was also the largest Montecito sale ever – 2500 East Valley Road for $63,250,000.

San Roque
San Roque (MLS Area 15) enjoyed a strong real estate market in 2020, with impressive gains in both sales and prices. Total Active Listings increased 15% to 524 properties. The Number Sold rose 13% to 462. Average Sale Price and Median Sale Price each rose 12% to $1,547,513 and $1,350,000, respectively. Overall, Sold Volume increased 28% to $714,951,164. On average, properties in MLS Area 15 sold for 98% of their last list price – an improvement of 1% compared to a year ago. The largest sale in San Roque was 212 Canon Drive for $2,570,000.

Upper East
The Upper East (MLS Area 15) enjoyed a strong real estate market in 2020, with impressive gains in both sales and prices. Total Active Listings increased 15% to 524 properties. The Number Sold rose 13% to 462. Average Sale Price and Median Sale Price each rose 12% to $1,547,513 and $1,350,000, respectively. Overall, Sold Volume increased 28% to $714,951,164. On average, properties in MLS Area 15 sold for 98% of their last list price – an improvement of 1% compared to a year ago. The largest sale in the Upper East was 2211 Garden Street at $3,500,000.

Riviera
The Riviera (MLS Area 15) enjoyed a strong real estate market in 2020, with impressive gains in both sales and prices. Total Active Listings increased 15% to 524 properties. The Number Sold rose 13% to 462. Average Sale Price and Median Sale Price each rose 12% to $1,547,513 and $1,350,000, respectively. Overall, Sold Volume increased 28% to $714,951,164. On average, properties in MLS Area 15 sold for 98% of their last list price – an improvement of 1% compared to a year ago. The largest sale on the Riviera was 2166 Mission Ridge Road at $4,750,000.

Mesa
The Mesa (MLS Area 20) enjoyed solid growth in 2020 both in sales and prices. Total Active Listings rose 8% to 399 properties. Sales followed inventory, as the Number Sold also climbed 8% to 374. Price increases were relatively modest as Average Sale Price increased 4% to $1,276,499 and Median Sale Price inched up 2% to $1,083,500. Overall, Sold Volume improved 13% to $477,410,728. On average, properties in MLS Area 20 sold for 99% of their last list price – an increase of 2%, and the strongest list/sold price ratio along the South Coast. The largest sale on the Mesa was 1707 Shoreline Drive at $4,995,000.

Samarkand
Samarkand (MLS Area 20) enjoyed solid growth in 2020 both in sales and prices. Total Active Listings rose 8% to 399 properties. Sales followed inventory, as the Number Sold also climbed 8% to 374. Price increases were relatively modest as Average Sale Price increased 4% to $1,276,499 and Median Sale Price inched up 2% to $1,083,500. Overall, Sold Volume improved 13% to $477,410,728. On average, properties in MLS Area 20 sold for 99% of their last list price – an increase of 2%, and the strongest list/sold price ratio along the South Coast. The largest sale in Samarkand was 2932 Hermosa Road at $1,825,000.

Santa Barbara Foothills/Goleta North
Activity in the Santa Barbara Foothills and Goleta North (MLS Area 35) was much more subdued than other areas along the South Coast. Total Active Listings declined 2% to 343 properties. The Number Sold fell 9% to 296 properties. Average and Median Sale Price each improved 4% to $1,086,822 and $934,000, respectively. Overall, Sold Volume decreased 5% t o $321,699,493. On average, properties in MLS Area 35 sold for 98% of their last list price – unchanged from a year ago. The largest sale in MLS Area 35 during 2020 was 1320 Via Brigitte at $3,780,000.

Birnam Wood Golf Club
After a slow start, Birnam Wood finished 2020 strong. During the first half of the year, there was only one closed sale in Birnam Wood: 2158 Birnam Wood Drive for $3,460,000. There were five closed sales during the second half: 2029 Boundary Drive for $3,750,000; 2079 Birnam Wood Drive for $3,800,000; 2069 Boundary Drive for $4,105,000; 1185 Fife Lane for $5,200,000; and 1984 Inverness Lane for $5,150,000.

There are currently five Active Listings in the MLS, ranging from $4,175,000 to $8,450,000. There are two pending sales: 499 Crocker Sperry Drive, listed at $3,995,000; and, 457 Eastgate Lane, listed at $7,695,000.

Hope Ranch
Hope Ranch (MLS Area 25) enjoyed strong sales in 2020 as wealthy Buyers fled larger cities in favor of more rural venues. Total Active Listing rose 32% to 61 properties. The Number Sold jumped 19% to 43. Prices were mixed – Average Sale Price declined 10% to $4,093,869, while Median Sale Price climbed 14% to $3,400,000. Overall, Sold Volume increased 7% to $176,036,380. On average, properties in Hope Ranch sold for 92% of their last list price – a decrease of 2% compared to 2019. The largest sale in Hope Ranch in 2020 was 4225 Cresta Avenue at $10,500,000.

Expectations for 2021
I expect Buyer demand to be strong in our area throughout 2021. However, I do not anticipate inventory levels will keep up with that demand. This will likely limit out number of sales but will continue to push prices upward throughout the year.

Sincerely,

Daniel Encell
Director, Estates Division
Berkshire Hathaway HomeServices
(805) 565-4896

P.S. If you are considering selling, you need a strong agent with precise market knowledge, and superior marketing, advertising, and negotiation skills. In 33 years, I have sold more Montecito properties than any other agent – over $1.6 billion in local sales. Creative marketing, extensive advertising, and good old fashioned hard work get the best results in any market! Please call me at (805) 565-4896 or email me at danencell@aol.com. All calls will be confidential.

*(In actuality, these figures are low, as there were five Montecito sales in 2020 above $26,000,000 that were not reported through the MLS, so they are not included in the Average Sale Price or the Sold Volume figures)
 

Copyright Dan Encell