Santa Barbara Real Estate Statistical Update – Feb 16, 2015. The luxury segment of the Santa Barbara real estate market is dominating! This is a twist from the recent past when the low end of the Santa Barbara real estate market was the strongest.
The median sales price of homes sold in Santa Barbara is off 3.2% from this time last year. The Santa Barbara median sales price currently stands at $870,000. The Santa Barbara median sales price last year was $899,000. The number of Santa Barbara homes sold is off 8.4% and the number of newly listed Santa Barbara homes is up 29.8%. This number is skewed by homes that are taken off the market for the Holiday Season and re-listed as a “new listing.”
The Santa Barbara luxury real estate market tells quite a different story. The median sales price in the Santa Barbara luxury real estate segment is up 26.8% year over year. The Santa Barbara luxury real estate median sales price is currently $6,725,600. Last year the Santa Barbara luxury real estate median sales price was $5,325,000. The number of Santa Barbara luxury real estate homes sold is up an incredible 333.3% over this time last year. The number of newly listed homes in the Santa Barbara luxury real estate is up 87.5% but again this is a skewed number by post Holiday re-listings of Santa Barbara luxury homes.
The Montecito real estate statistics are stong in all price segments. The median sales price of homes sold in Montecito is up 128.4%. The Montecito median sales price currently stands at $5,630,000. Last year at this time, the Montecito median sales price was $2,465,000. The Montecito median sales price is skewed by the strength of the Montecito luxury real estate segment. The number of Montecito homes sold year over year is flat. The number of Montecito homes listed for sale is up 53.6% but again this is skewed by post Holiday re-listings.
The Montecito luxury real estate market is strong. The median sales price in the Montecito luxury real estate market is $6,752,600 – yes all the sales in the Santa Barbara luxury real estate segment have come from Montecito so far this year. Last year at this time, the Montecito luxury median sales price was $4,875,804. an increase of 38.5% year over year. The number of Montecito luxury homes sold is up a whopping 700% year over year. The number of newly listed Montecito luxury homes is up 400% but again this is a skewed number.
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