June 2019 South Coast Snapshot…
124 single family homes sold in June. That is down 11% from last June. 62 condos sold in June. That is up 24% from last June. The median sales price of single family homes was $1,195,000. That is up 2% from last June. The average sales price of single family homes was $1,917,726. That is up 14% from last year. The median sales price of condos was $713,250. That is up 15% from last year. The average price of condos was $781,976. That is up 9% from last year.
Year to date, single family sales are up 5%, condo sales are up 27%. Median sales price of single family homes is up 6%. Average sales price of single family homes is up 10%. Median sales price of condos is up 5%. Average sales price of condos is down 3%.
There is 5.13 months of supply on the market. Supply is creeping up. There was 5.05 months of supply in May, 5.12 months in April, 4.63 months in March, 4.16 months in February and 4.18 months in January.
There were 160 price reductions in June. Price reductions are increasing. There were 152 in May, 154 in April, 108 in March, 98 in February and 140 in January.
Average number of days on the market for single family homes is 72 days.
Average number of days on the market for condos is 65 days.
The majority of sales are below $3,000,000.
Of the 186 sales of homes and condos sold in June, 93 were below $1,000,000.
Year over Year Price Report
Santa Barbara Median Price $1,050,000. -10% Santa Barbara Average Price $1,131,313. -8%
Montecito Median Price $2,125,000. -25% Montecito Average Price $2,890,705. -37%
Hope Ranch Median Price $2,900,000. +12% Hope Ranch Average Price $3,086,750. +19%
Summerland Median Price $1,342,500. n/a Summerland Average Price $1,342,500 n/a (there wer no sales in June 2018)
Carpinteria Median Price $671,750. -11% Carpinteria Average Price $3,308,607. +255%
Goleta Median Price $865,000. +4% Goleta Average Price 1,029,388. +21%
Call or text Wendy Gragg at 805.453.3371 for more information
CORT data as of June 2019