Hope Ranch Real Estate Market Update | November 2016

Sold – Hope Ranch Real Estate

Hope Ranch in Santa Barbara had 2 closed sales in November:  4055 Marina Drive sold for $6,200,000 on 11/10/16 and 210 Las Palmas sold for $1,785,000 on 11/16/16. 4055 Marina Drive was a pocket listing that sold for 100% of its list price. 210 Las Palmas was on the market for 153 days and sold for 78% of its original list price price of $2,295,000.

In Escrow – Hope Ranch Real Estate

Currently, there is only a single Hope Ranch property in escrow. It’s located at 929 Canon Road and is listed for $4,550,000. This property entered escrow on 10/13/16.

Actively For Sale – Hope Ranch Real Estate

Inventory of available Hope Ranch homes is increasing. There are a total of 29 Hope Ranch properties for sale within the community, which translates to 15 months of inventory. 6 of these properties were newly introduced in November. The average asking price for homes currently listed for sale in Hope Ranch is $7,843,793. Originally, the average list price for these 29 homes was $8,674,828, which means that sellers have reduced their prices by approximately 10% from the time their homes initially arrived on the market. Lastly, the median list price is $4,450,000.

For a complete overview of the Hope Ranch real estate market, please visit: www.DanielandErinSB.com/Hope-Ranch.

If you have any questions about the condition of the Hope Ranch real estate market or are curious what your home is worth, please contact us. We’re here to be your go-to resource for all of your real estate needs.

P.S. – We hope you have a Merry Christmas and are able to spend time with family and friends during this precious holiday season. If we don’t connect with you until next year, have a safe and Happy New Year! 2017 will be an amazing year for each and every one of you.