October 2019 South Coast Snapshot…
109 single family gomes sold in October. That is down 11% from last October. 46 condos sold in October. That is up 12%. The median sales price of single family homes was $1,280,000. That is up 7% from last October. The average sales price of single family homes was $2,178,073. That is up 24% from last year. The median sales price of condos was $665,000. That is down 13% from last year. The average price of condos was $786,402. That is down 4% from last year.
Year to date, single family sales are up 6%, condo sales are up 9%. Median sales price of single family homes is up 4%. Average price of single family homes is up 10%. Median sales price of condos is up 1%. Average sales price of condos is down 2.7%.
There was 4.66 months of supply in October. There was 5.05 months in September, 5.30 months in August, 5.30 months in July, 5.13 months 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 months in January.
There were 185 price reductions in October. There were 179 in September, 165 in August, 191 in July, 160 in June, 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 64 days.
Average number of days on the market for condos is 76 days.
Of the 155 sales of homes and condos in October, 74 were below $1,000,000.
Year over Year Price Report
Santa Barbara Median Price $1,180,000 +15% ~ Santa Barbara Average Price $1,250,960. -3%
Montecito Median Price $3,202,000. +45% ~ Montecito Average Price $4,607,286. +47%
Hope Ranch Median Price $7,946,000. +46% ~ Hope Ranch Average Price $7,496,000. +46%
Summerland Median Price $2,650,000. +80% ~ Summerland Average Price $2,650,000. +94%
Carpinteria Median Price $729,000. -9% ~ Carpinteria Average Price $661,385. -39%
Goleta Median Price $837,000. -1% ~ Goleta Average Price $915,125. +1%
For more information call or text Wendy Gragg 805.453.3371
Source: CORT InData October 2019
