Inventory and Price Reductions Increase
Single Family Homes Sold +8% ~ 94 in Apr 2025 vs. 87 in Ap 2024
Single Family Median Sales Price -4%~ $2,175,000. in Apr 2025 vs. $2,255,000. in Apr 2024
Single Family Average Sales Price -13% ~ $3,207,922. in Apr 2025 vs. $3,673,446. in Apr 2024
Year to Date Single Family
Homes Sold +14%
Median Sales Price +19%
Average Sales Price +13%
Condos Sold +38% ~ 33 in Apr 2025 vs. 24 in Apr 2024
Condo Median Sales Price -3% ~ $1,049,000. in Apr 2025 vs. $1,081,000. in Apr 2024
Condo Average Sales Price +29% ~ $1,454,360. in Apr 2025 vs. $1,131,021. in Apr 2024
Year to Date Condos
Condos Sold +13%
Median Sales Price +27%
Average Sales Price +37%
Inventory
Inventory is increasing. There was 3.38 months of supply in April. There was 2.95 months in March. It has been in the 2 month range or lower for the last 5 years.
Pending Sales
There were 130 pending sales in April and 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 115 price reductions in April. There were 90 in March, 65 price in February and 61 in January.
Sales Price % to Original List Price
April homes and condos sold at 95.8% of original list price.
Of the 127 sales of homes and condos sold in April, 111 or 87.4% were above $1,000,000.
Cash Sales
35% of all sales in April were cash.
Year to date, 39% 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 -5.9% ~ $2,127,120. in Apr 2025 vs. $2,262,500. in Apr 2024
Santa Barbara Average Sales Price -6.9% ~ $2,523,544. in Apr 2025 vs. $2,710,088. in Apr 2024
Montecito Median Sales Price +30% ~ $5,975,000. in Apr 2025 vs. $4,600,000. in Apr 2024
Montecito Average Sales Price -30% ~ $5,815,750. in Apr 2025 vs. $8,316,975. in Apr 2024
Hope Ranch Median Sales Price -30.5% ~ $4,495,000. in Apr 2025 vs $6,468,750. in Apr 2024
Hope Ranch Average Sales Price +10% ~ $7,115,000. in Apr 2025 vs. $6,468,750. in Apr 2024
Summerland Median Sales Price -35% ~ $1,750,000. in Apr 2025 vs. $2,700,000. in Apr 2024
Summerland Average Sales Price -35% ~ $1,750,000. in Apr 2025 vs. $2,700,000. in Apr 2024
Carpinteria Median Sales Price -8.5% ~ $1,830,000 in Apr 2025 vs. $2,000,000. in Apr 2024
Carpinteria Average Sales Price +32.4% ~ $2,370,000. in Apr 2025 vs. $1,790,000. in Apr 2024
Goleta Median Sales Price +18.7% ~ $1,825,000. in Apr 2025 vs. $1,537,500. in Apr 2024
Goleta Average Sales Price +0.7% ~ $1,986,000. in Apr 2025 vs. $1,917,364. in Apr 2024
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of May 15, 2025. This includes both off market and MLS data combined.
