March Adds to the Strong Start to 2025
Single Family Homes Sold +3% ~ 79 in Mar 2025 vs. 77 in Mar 2024
Single Family Median Sales Price +35%~ $2,827,000. in Mar 2025 vs. $2,100,000. in Mar 2024
Single Family Average Sales Price +52% ~ $4,340,670. in Mar 2025 vs. $2,864,342. in Mar 2024
Year to Date Single Family
Homes Sold +17%
Median Sales Price +27%
Average Sales Price +25%
Condos Sold +39% ~ 32 in Mar 2025 vs. 23 in Mar 2024
Condo Median Sales Price +14% ~ $1,187,500. in Mar 2025 vs. $1,039,000. in Mar 2024
Condo Average Sales Price +9% ~ $1,333,587. in Mar 2025 vs. $1,220,491. in Mar 2024
Year to Date Condos
Condos Sold +6%
Median Sales Price +32%
Average Sales Price +40%
Inventory
There was 2.95 months of supply in March. This continues the 5 year long run of exceptionally low inventory.
Pending Sales
There were 130 pending sales in March. This is slightly above the range it has held for all of 2023 and most of 2024.
Price Reductions
Price reductions are increasing. There were 90 price reductions in March. There were 65 price in February and 61 in January.
Sales Price % to Original List Price
March homes and condos sold at 95.5% of original list price.
Of the 111 sales of homes and condos sold in March, 98 or 88.3% were above $1,000,000.
Cash Sales
41% of all sales in March were cash.
Days on Market
43 days for single family homes
30 days for condos
Year over Year Price Report for March
Santa Barbara Median Sales Price +33.5% ~ $2,795,000. in Mar 2025 vs. $2,093,750. in Mar 2024
Santa Barbara Average Sales Price +44.5% ~ $3,458,898. in Mar 2025 vs. $2,393,044. in Mar 2024
Montecito Median Sales Price flat ~ $6,000,000. in Mar 2025 vs. $6,170,000. in Mar 2024
Montecito Average Sales Price -6.4% ~ $6,786,316. in Mar 2025 vs. $7,248,500. in Mar 2024
Hope Ranch Median Sales Price +25.2% ~ $8,287,500. in Mar 2025 vs $6,618,000. in Mar 2024
Hope Ranch Average Sales Price +46.5% ~ $9,695,000. in Mar 2025 vs. $6,618,000. in Mar 2024
Summerland Median Sales Price N/A ~ $2,847,000. in Mar 2025 vs. no sales in Mar 2024
Summerland Average Sales Price N/A ~ $2,847,000. in Mar 2025 vs. no sales in Mar 2024
Carpinteria Median Sales Price +121.8% ~ $2,860,000 in Mar 2025 vs. $1,289,588. in Mar 2024
Carpinteria Average Sales Price +291.3% ~ $5,113,333. in Mar 2025 vs. $1,306,794. in Mar 2024
Goleta Median Sales Price -7.2% ~ $1,480,000. in Mar 2025 vs. $1,595,000. in Mar 2024
Goleta Average Sales Price +34.9% ~ $2,447,768. in Mar 2025 vs. $1,814,733. in Mar 2024
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of Apr 11, 2025. This includes both off market and MLS data combined.