Santa Barbara South Coast Snapshot…
Data is reflective of the first full month of COVID 19 Impact
Single Family Homes Sold -35% ~ 69 in April 2020 vs. 106 in April 2019
Single Family Median Sales Price -10% ~ $1,200,000. in April 2020 vs. $1,336,250. in April 2019
Single Family Average Sales Price -14% ~ $1,666,464. in April 2020 vs. $1,945,516. in April 2019
Single Family Year to Date: Homes Sold -7%, Median Sales Price -2%, Average Sales Price -16%
Condos Sold -53% ~ 26 in April 2020 vs. 59 in April 2019
Condo Median Sales Price +13% ~ $795,000. in April 2020 vs. $704,500. in April 2019
Condo Average Sales Price +22% ~ $942,692. in April 2020 vs. $722,112. in April 2019
2 condo sales at $1,950,000.& $1,630,000. impact April condo data.
Condos Year to Date: Condos Sold -35%, Median Sales Price +7%, Average Sales Price +10%
Inventory
April marks the 6th consecutive month of very low inventory. There were 3.81 months of supply in April. 3.22 months in March, 3.58 months in February, 3.23 months in January, 3.19 months in December and 3.77 months in November.
Pending Sales
There was a substantial drop in pending sales in April due to COVID. There were 65 pending sales in April. There were 107 in March, 144 in February and 131 in January. Pending sales in 2019 ranged from a low of 114 in Dec 2019 to a high of 199 in May 2019.
Price Reductions
There were 52 price changes in April. There were 89 in March, 86 in February, and 106 in January. The majority of 2019 ranged between 100-200 price reductions per month.
Days on Market
80 day for single family homes ~ 61 days for condos. This is a very consistent metric.
Of the 95 sales of homes and condos in April, 54 or 56.8% were above $1,000,000.
Year over Year Price Report for April
Santa Barbara Median Price flat ~ $1,200,000. in April 2020 vs. $1,200,000. in April 2019
Santa Barbara Average Price -9% ~ $1,187,200. in April 2020 vs. $1,308,403. in April 2019
Montecito Median Price -32% ~ $2,050,000. in April 2020 vs. $3,013,750. in April 2019
Montecito Average Price -30% ~ $2,809,400. in April 2020 vs. $3,999,909. in April 2019
Hope Ranch Median Price -25% ~ $3,300,000. in April 2020 vs. $4,400,000. in April 2019
Hope Ranch Average Price -32% ~ $2,989,667. in April 2020 vs. $4,400,000. in April 2019
Summerland Median Price NA ~ no sales in April 2020 vs. $1,525,000. in April 2019
Summerland Average Price NA ~ no sales in April 2020 vs. $1,525,000. in April 2019
Carpinteria Median Price +14% ~ $882,000. in April 2020 vs. $775,000. in April 2019
Carpinteria Average Price +18% ~ $993,500. in April 2020 vs. $843,864. in April 2019
Goleta Median Price +1% ~ $830,000. in April 2020 vs. $820,000. in April 2019
Goleta Average Price +25% ~ $1,106,714. in April 2020 vs. $885,090. in April 2019
Call or text Wendy Gragg 805.453.3371 for more information
Source: CORT INDATA as of May 14, 2020. This includes both off market and MLS data combined.
