Santa Barbara Real Estate Statistical Update Dec 31, 2014. The Santa Barbara real estate market finishes the year strong! The Santa Barbara median sales price finishes 2014 at $865,000. That is 9.6% higher than last year’s Santa Barbara median sales price of $789,000.
The trend in Santa Barbara real estate in 2014 was a lack of homes for sale. The Santa Barbara real estate market finished 2014 with 4.1% less homes for sale than 2013. As a result of the lack of homes for sale for Santa Barbara buyers to buy, the number of Santa Barbara homes sold was off 14.9% in 2014 compared to 2013.
The Montecito median sales price finished 2014 at $2,670,000. That is 12.4% higher than 2013 when the Montecito median sales price was $2,375,000.
Montecito, like Santa Barbara also had a lack of homes for sale in 2014. Montecito had 6.3% less homes for sale in 2014 than it had in 2013. As a result, the number of homes sold in Montecito was off 15.2% year over year.
The Santa Barbara luxury real estate market has a different set of statistics. The Santa Barbara luxury real estate segment is defined as Santa Barbara luxury homes priced at $5 million and above. The median sales price of the Santa Barbara luxury real estate market is up a scant 0.7% year over year. The Santa Barbara luxury real estate median sales price finished 2014 at $7,175,000. The Santa Barbara luxury real estate median sales price in 2013 was $7,122,500.
The Santa Barbara luxury real estate market has a wide variety of homes for sale for the Santa Barbara luxury home buyer. The number of Santa Barbara luxury homes for sale is up 17.6% year over year. As a result of the plentiful supply to choose from, Santa Barbara luxury home buyers took action in 2014. The number of Santa Barbara luxury homes sold is up 15.0% year over year.
Click SANTA BARBARA LUXURY REAL ESTATE to browse the plentiful supply of luxury homes for sale in Santa Barbara.
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For personal attention, call or text Wendy Gragg at 805.453.3371 or email WGragg@DistinctiveRealEstateOnline.com
Wishing you the very best in the New Year!!
Wendy Gragg