The Year is Off to a Strong Start
Single Family Homes Sold +33% ~ 76 in Feb 2025 vs. 57 in Feb 2024
Single Family Median Sales Price +18%~ $2,665,625. in Feb 2025 vs. $2,265,000. in Feb 2024
Single Family Average Sales Price -18% ~ $3,468,485. in Feb 2025 vs. $4,226,728. in Feb 2024
Year to Date Single Family
Homes Sold +26%
Median Sales Price +20%
Average Sales Price +11%
Condos Sold -19% ~ 26 in Feb 2025 vs. 32 in Feb 2024
Condo Median Sales Price +51% ~ $1,450,000. in Feb 2025 vs. $962,500. in Feb 2024
Condo Average Sales Price +50% ~ 1,536,740. in Feb 2025 vs. $1,023,626. in Feb 202
Year to Date Condos
Condos Sold -7%
Median Sales Price +34%
Average Sales Price +57%
Inventory
There was 2.68 months of supply in February. This continues the 5 year long run of exceptionally low inventory.
Pending Sales
There were 107 pending sales in February. This is in the range it has held for all of 2023 and most of 2024.
Price Reductions
There were 65 price reductions in February. There were 61 in January.
Sales Price % to Original List Price
February homes and condos sold at 97% of original list price.
Of the 102 sales of homes and condos sold in February, 96 or 94.1% were above $1,000,000.
Cash Sales
33% of all sales in February were cash.
Days on Market
38 days for single family homes
31 days for condos
Year over Year Price Report for February
Santa Barbara Median Sales Price +23.5% ~ $2,681,250. in Feb 2025 vs. $2,171,500. in Feb 2024
Santa Barbara Average Sales Price +24.4% ~ $2,874,368. in Feb 2025 vs. $2,311,299. in Feb 2024
Montecito Median Sales Price -8.2% ~ $5,462,500. in Feb 2025 vs. $5,950,000. in Feb 2024
Montecito Average Sales Price -47.4% ~ $6,010,388. in Feb 2025 vs. $11,424,192. in Feb 2024
Hope Ranch Median Sales Price N/A ~ $6,300,000. in Feb 2025 vs. no sales in Feb 2024
Hope Ranch Average Sales Price N/A ~ $6,120,000. in Feb 2025 vs. no sales in Feb 2024
Summerland Median Sales Price N/A ~ no sales in Feb 2025 or Feb 2024
Summerland Average Sales Price N/A ~ no sales in Feb 2025 or Feb 2024
Carpinteria Median Sales Price N/A ~ $1,637,500 in Feb 2025 vs. no sales in Feb 2024
Carpinteria Average Sales Price N/A ~ $1,637,500 in Feb 2025 vs. no sales in Feb 2024
Goleta Median Sales Price +7% ~ $1,634,500. in Feb 2025 vs. $1,527,500. in Feb 2024
Goleta Average Sales Price +5.8% ~ $1,831,111. in Feb 2025 vs. $1,730,791. in Feb 2024
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of Mar 14, 2024. This includes both off market and MLS data combined.