August 2019 South Coast Snapshot…
130 single family homes sold in August. That is down 1% from last August. 46 condos sold in August. That is down 36%. The median sales price of single family homes was $1,292,500. That is up 7% from last August. The average price of single family homes was $1,750,327. That is down 9% from last year. The median sales price of condos was $675,000. That is up 3% from last year. The average price of condos was $721,967. That is up 5% from last year.
Year to date, single family home sales are up 7%., condo sales are up 13%. Median sales price of single family homes is up 4%. Average price of single famiily homes is up 8%. Median sales price of condos is up 2%. Average sales price of condos is down 1%.
Inventory has been creeping up all year, but stabilized in August at 5.30 months. It was 5.30 months in July, 5.13 months of supply in June, 5.05 months in May, 5.12 months in April, 4.63 months in March, 4.16 months in February, and 4.18 moths in January.
Average number of days on the market for single family homes is 73 days.
Average number of days on the market for condos is 66 days.
The majority of sales are below $3,000,000.
Year over Year Price Report
Santa Barbara Median Sales Price $1,167,500. +15% – Santa Barbara Average Sales Price $1,342,554. +14%
Montecito Median Sales Price $4,200,000. +63% – Montecito Average Sales Price $4,454,467. -5%
Hope Ranch Median Sales Price $2,575,000. -33% – Hope Ranch Average Sales Price $2,575,000. -55%
Summerland Median Sales Price $1,005,000. -75% – Summerland Average Sales Price $1,228,750. -69%
Carpinteria Median Sales Price $762,000. +30% – Carpinteria Average Sales Price $812,947. +21%
Goleta Median Sales Price $885,000. +13% – Goleta Average Sales Price $1,020,682. +20%
Call or text Wendy Gragg at 805.453.3371 for more information.
Source: Cort INdata as of August 2019