Santa Barbara Real Estate Statistical Update for December, Year End 2025 and 2026 Forecast

Total Sales

$4,135,060,346 in 2025

vs.

$3,335,741,571. in 2024

Estates Priced $10 Million and Above

$969,858,728. in 2025

vs.

$741,892,500. in 2024

Single Family Homes Sold  – flat

70 in Dec 2025 vs. 70 in Dec 2024

Single Family Median Sales Price -5%

$1,919,993. in Dec 2025 vs. $2,025,000. in Dec 2024

Single Family Average Sales Price -12%

$2,564,531. in Dec 2025 vs. $2,911,939. in Dec 2024

Single Family – Year End 2025

Homes Sold +12%

Median Sales Price +6%

Average Sales Price +4%

Condos Sold +19%

32 in Dec 2025 vs. 27 in Dec 2024

Condo Median Sales Price +20%

$1,075,000. in Dec 2025 vs. $895,000. in Dec 2024

Condo Average Sales Price +22%

$1,298,358. in Dec 2025 vs. $1,060,656. in Dec 2024

Condo – Year End 2025

Condos Sold +8%

Median Sales Price +10%

Average Price +8%

Inventory

There was 2.59 months of supply in December. Inventory is likely to remain low.

Pending Sales

There were 76 pending sales in December. This is the lowest number of pending sales all year.  The high was 147 in October.

Price Reductions

There were 37 price reductions in December. This is the lowest number of price reductions all year.  The high was 116 in October.

Sales Price % to Original List Price

December homes and condos sold at 95.2% of original list price.

Of the 102 sales of homes & condos sold in December, 86 or 84.3% were above $1,000,000.

Cash Sales

33% of all sales in December were cash.

For the year, 38% of all sales were cash.

Days on Market

42 days for single family homes

34 days for condos.

2026 Forecast

The Federal Reserve Will Lower Rates, But if the 10 Year Treasury Stays in the 4% Range, Mortgage Rates Will Remain Elevated

Inventory Will Remain Low

We Will Continue to See A Large Number of Cash Transactions

Homeowners Insurance Will Remain Expensive