Big Decline in Sales
Pricing is Moderating
Single Family Homes Sold -34% ~ 52 in Jan 2023 vs. 79 in Jan 2022
Single Family Median Sales Price -9% ~ $1,781,469. in Jan 2023 vs. $1,950,000. in Jan 2022
Single Family Average Sales Price -6% ~ $3,215,442. in Jan 2023 vs. $3,404,999. in Jan 2022
Condos Sold -39% ~ 17 in Jan 2023 vs. 28 in Jan 2022
Condo Median Sales Price +3% ~ $900,000. in Jan 2023 vs. $875,000. in Jan 2022
Condo Average Sales Price +2% ~ $1,015,628. in Jan 2023 vs. $991,464. in Jan 2022
Inventory
There was 1.2 months of supply in January. We have had less than 2 months of supply for more than 2 years!
Pending Sales
There were 74 pending sales in January. This is the lowest number of pending sales for all of 2022.
Price Reductions
There were 27 price reductions in January. There were 18 in December and 54 in November.
Sales Price % to Original List Price
January homes and condos sold at 95% of original list price.
Of the 69 sales of homes and condos sold in January, 52 or 75.3% were above $1,000,000.
Cash Sales
26% of all sales in January were cash
Days on Market
27 days for single family homes
16 days for condos
Year over Year Price Report for January
Santa Barbara Median Sales Price -23% ~ $1,631,000. in Jan 2023 vs. $2,118,500. in Jan 2022
Santa Barbara Average Sales Price -4.1% ~ $2,572,202. in Jan 2023 vs. $2,683,000. in Jan 2022
Montecito Median Sales Price -32% ~ $4,800,000. in Jan 2023 vs. $7,066,000. in Jan 2022
Montecito Average Sales Price -20.2% ~ $6,265,000. in Jan 2022 vs. $7,849,813. in Jan 2022
Hope Ranch Median Sales Price +30.6% ~ $6,072,500. in Jan 2023 vs. $4,650,000. in Jan 2022
Hope Ranch Average Sales Price +26.8% ~ $6,072,500. in Jan 2023 vs. $4,786,000. in Jan 2022
Summerland Median Sales Price N/A ~ $1,500,000. in Jan 2023 vs. no sales in Jan 2022
Summerland Average Sales Price N/A ~ $1,500,000. in Jan 2023 vs. no sales in Jan 2022
Carpinteria Median Sales Price -23.3% ~ $1,150,000. in Jan 2023 vs. $1,500,000. in Jan 2022
Carpinteria Average Sales Price +128.8% ~ $3,676,000. in Jan 2023 vs. $1,606,000. in Jan 2022
Goleta Median Sales Price +6% ~ $1,362,500. in Jan 2023 vs. $1,285,000. in Jan 2022
Goleta Average Sales Price -5.8% ~ $1,448,794. in Jan 2023 vs. $1,538,716. in Jan 2022
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of Feb 14, 2023. This includes both off market and MLS data combined.