Santa Barbara Real Estate Statistical Update :: January 2020

Single Family Homes Sold +14%

96 in Jan 2020 vs. 84 in Jan 2019

Single Family Median Sales Price -0.3%

$1,302,500. in Jan 2020 vs. $1,307,000. in Jan 2019

Single Family Average Sales Price -26%

$1,687,451. in Jan 2020 vs. $2,265,486. in Jan 2019

Condos Sold -11%

33 in Jan 2020 vs. 37 in Jan 2019

Condo Median Sales Price -1%

$740,000. in Jan 2020 vs. $749,000. in Jan 2019

Condo Average Sales Price +8%

$829,121 in Jan 2020 vs. $767,959. in Jan 2019

Inventory

Inventory remains at historical lows with just 3.23 months of supply in January. Inventory began tightening up in November when we had 3.77 months of supply, December had 3.19 months of supply. It had been in the 4-5 months of supply range for the majority of 2019. Inventory is especially tight under $2,500,000.

Price Reductions

There were 106 price redeuctions in January. This is a dramatic increase over December with 63 price reductions which had been the the lowest level for all of 2019. The majority of 2019 hovered between 100-200 price reductions per month.

Days on Market

80 days for single family homes

65 days for condos.

This has been very consistent through all of 2019

Of the 129 sales of homes & condos sold in January, 51or 39.5% were below $1,000,000. This has also been relatively stable all year.

Year over Year Price Report for January

Santa Barbara Median Price -6% :: $1,107500. in Jan 2020 vs. $1,180,000. in Jan 2019

Santa Barbara Average Price -14% :: $1,188,466. in Jan 2020 vs. $1,376,933 in Jan 2019

Montecito Median Price -1% :: $2,370,000. in Jan 2020 vs. $2,400,000. in Jan 2019

Montecito Average Price -39% :: $2,921,125. in Jan 2020 vs. $4,817,136. in Jan 2019

Hope Ranch Median Price -56% :: $4,167,163 in Jan 2020 vs. $9,575,000. in Jan 2019

Hope Ranch Average Price -57% :: $4,167,163 in Jan 2020 vs. $9,697,000. in Jan 2019

Summerland Median Price -27% :: $1,272,000. in Jan 2020 vs. $1,745,000. in Jan 2019

Summerland Average Price -26% :: $1,283,667. in Jan 2020 vs. $1,745,000. in Jan 2019

Carpinteria Median Price -16% :: $792,000. in Jan 2020 vs. $940,000. in Jan 2019

Carpinteria Average Price +23% :: $1,217,250. in Jan 2020 vs. $992,846 in Jan 2019

Goleta Median Price +13% :: $865,500. in Jan 2020 vs. $765,000. in Jan 2019

Goleta Average Price +14% :: $1,018,952. in Jan 2020 vs. $897,233. in Jan 2019

Source: CORT INDATA as of February 17, 2020. This includes both off market and MLS data combined.

Santa Barbara Real Estate Statistical Update :: January 2020

Santa Barbara Real Estate Statistical Update :: January 2020

Year over Year Price Report for January

Author: Wendy Gragg

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