50% of Sales in April Were Cash
Price Reductions Increased
Single Family Homes Sold +21% ~ 87 in Apr 2024 vs. 72 in Apr 2023
Single Family Median Sales Price +12% ~ $2,255,000. in Apr 2024 vs. $2,008,396. in Apr 2023
Single Family Average Sales Price +11% ~ $3,673,446. in Apr 2024 vs. $3,307,654. in Apr 2023
Year to Date Single Family
Homes Sold +17%
Median Sales +11%
Average Sales Price +7%
Condos Sold flat ~ 24 in Apr 2024 vs. 24 in Apr 2023
Condo Median Sales Price +27% ~ $1,081,000. in Apr 2024 vs. $849,500. in Apr 2023
Condo Average Sales Price +18% ~ 1,131,021. in Apr 2024 vs. $957,646. in Apr 2023
Year to Date Condos
Condos Sold +8%
Median Sales Price flat
Average Price -5%
Inventory
There was 2.39 months of inventory in April. We have been in or below 2 month range for nearly 4 years!
Pending Sales
There were 118 pending sales in April. It has held steady in this range for all of 2023 and 2024.
Price Reductions
There were 63 price reductions in April. There were 50 in March, 38 price in February. Otherwise, price reductions have held the 50 range for the last 7 months.
Sales Price % to Original List Price
April homes and condos sold at 97.5% of original list price.
Of the 111 sales of homes and condos sold in April, 100 or 90% were above $1,000,000.
Cash Sales
50% of all sales in April were cash.
Year to date 45% of all sales were cash.
Days on Market
30 days for single family homes
22 days for condos
Year over Year Price Report for April
Santa Barbara Median Sales Price +13.1% ~ $2,262,500. in Apr 2024 vs. $2,000,000. in Apr 2023
Santa Barbara Average Sales Price +21.6% ~ $2,710,088. in Apr 2024 vs. $2,228,551. in Apr 2023
Montecito Median Sales Price -13.6% ~ $4,600,000. in Apr 2024 vs. $5,326,250. in Apr 2023
Montecito Average Sales Price +3.3% ~ $8,316,975. in Apr 2022 vs. $8,048,250. in Apr 2023
Hope Ranch Median Sales Price -48.3% ~ $6,468,750. in Apr 2024 vs. $12,800,000. in Apr 2023
Hope Ranch Average Sales Price -49% ~ $6,468,750. in Apr 2024 vs. $12,686,353. in Apr 2023
Summerland Median Sales Price N/A ~ $2,700,000 in Apr 2024 vs. no sales in Apr 2023
Summerland Average Sales Price N/A ~ $2,700,000 in Apr 2024 vs. no sales in Apr 2023
Carpinteria Median Sales Price +37.2% ~ $2,000,000. in Apr 2024 vs. $1,457,131. in Apr 2023
Carpinteria Average Sales Price +28.7% ~ $1,790,000. in Apr 2024 vs. $1,390,626. in Apr 2023
Goleta Median Sales Price -3.3% ~ $1,537,500. in Apr 2024 vs. $1,590,000. in Apr 2023
Goleta Average Sales Price +11% ~ $1,971,364. in Apr 2024 vs. $1,776,471. in Apr 2023
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of May 14, 2024. This includes both off market and MLS data combined.