May 2019 South Coast Snapshot..
135 single family homes sold in May. That is up 18% from last May. 57 condos sold in May. That is down 3% from last May. The median sales price of single family homes was $1,288,500. That is up 5% from last May. The average sales price of single family homes was $1,886,152. That is down 3% from last year. The median sales price of condos was $695,000. That is down 2% from last year. The average price of condos was $801,982. That is down 9% from last year.
Year to date, single family sales are up 1%, condo sales are up 29%. Median sales price of single family homes is up 5%. Average price of single family homes is up 8.6%. Median sales price of condos is up 3%. Average sales price of condos is down 6%.
There is 5.05 months of supply on the market. Supply remained relatively stable compared to April at 5.12 months of supply, but supply has been increasing. It was 4.62 month in March, 4.16 months in February and 4.18 months in January.
There were 152 price reductions in May. There were 154 in April, 108 in March, 98 in February and 140 in January.
The average number of days on the market for single family homes is 69 days.
The average number of days on the market for condos is 67 days.
The majority of sales are below $3,000,000.
Of the 192 sales of homes and condos in May, 108 were below $1,000,000.
Year over Year Price Report
Santa Barbara Median Price $1,195,000 +2% – Santa Barbara Average Price $1,337,223. +3%
Montecito Median Price $2,992,500. +11% – Montecito Average Price $3,842,114. -8%
Hope Ranch Median Price $5,690,000. -43% – Hope Ranch Average Price $6,053,750. -39%
Summerland Median Price $1,375,000. +34% – Summerland Average Price $1,564,289. +19%
Carpinteria Median Price $577,000. -33% – Carpinteria Average Price $735,200. -23%
Goleta Median Price $830,000. -5% – Goleta Average Price $966,008. +8%
For more information call or text Wendy Gragg at 805.453.3371
COR/INdata as of May 2019