The Market is Shifting
Single Family Homes Sold -27% ~ 72 in April 2023 vs. 98 in April 2022
Single Family Median Sales Price -17% ~ $2,008,396. in April 2023 vs. $2,425,000. in April 2022
Single Family Average Sales Price -11% ~ $3,307,654. in April 2023 vs. $3,700,966. in April 2022
Single Family – Year to Date
Homes Sold -37%
Median Sales -13%
Average Sales Price -11%
Condos Sold -37% ~ 24 in April 2023 vs. 38 in April 2022
Condo Median Sales Price -5% ~ $849,500. in April 2023 vs. $895,000. in April 2022
Condo Average Sales Price -20% ~ $957,646. in April 2023 vs. $1,202,237. in April 2022
Condo – Year to Date
Condos Sold -42%
Median Sales Price +3%
Average Price -5%
Inventory
There was 1.44 months of supply in April.
Pending Sales
There were 108 pending sales in April. There were 100 in March, 105 pending in February and 74 in January.
Price Reductions
There were 36 price reductions in April. There were 41 in March, 38 price reductions in February and 27 in January.
Sales Price % to Original List Price
April homes and condos sold at 99% of original list price.
Of the 96 sales of homes and condos sold in April, 76 or 79.2% were above $1,000,000.
Cash Sales
36% of all sales in April were cash.
Year to date, 35% of all sales were cash.
Days on Market
28 days for single family homes
21 days for condos
Year over Year Price Report for April
Santa Barbara Median Sales Price -4.8% ~ $2,000,000. in April 2023 vs. $2,100,000. in April 2022
Santa Barbara Average Sales Price -9.3% ~ $2,228,551. in April 2023 vs. $2,459,461. in April 2022
Montecito Median Sales Price flat ~ $5,326,250. in April 2023 vs. $5,325,000. in April 2022
Montecito Average Sales Price +25.1% ~ $8,048,250. in April 2022 vs. $6,433,036. in April 2022
Hope Ranch Median Sales Price +6.6% ~ $12,800,000. in April 2023 vs. $12,000,000. in April 2022
Hope Ranch Average Sales Price +9.2%~ $12,686,353. in April 2023 vs. $11,613,090. in April 2022
Summerland Median Sales Price N/A ~ no sales in April 2023 vs. $1,897,500. in April 2022
Summerland Average Sales Price N/A~ no sales in April 2023 vs. $1,897,500. in April 2022
Carpinteria Median Sales Price +61% ~ $2,587,500. in March 2023 vs. $1,607,500. in March 2022
Carpinteria Average Sales Price +15.4% ~ $1,875,000. in March 2023 vs. $1,624,375. in March 2022
Goleta Median Sales Price -18.4% ~ $1,590,000. in April 2023 vs. $1,950,000. in April 2022
Goleta Average Sales Price -10.4% ~ $1,776,471. in April 2023 vs. $1,982,701. in April 2022
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of April 10, 2023. This includes both off market and MLS data combined.
