Cash Sales Remain Elevated
Single Family Homes Sold +13% ~ 59 in Jan 2024 vs. 52 in Jan 2023
Single Family Median Sales Price +36% ~ $2,425,000. in Jan 2024 vs. $1,781,469. in Jan 2023
Single Family Average Sales Price flat ~ $3,200,139. in Jan 2024 vs. $3,215,442. in Jan 2023
Single Family – Year to Date
Homes Sold +13%
Median Sales +36%
Average Sales Price flat
Condos Sold +53% ~ 26 in Jan 2024 vs. 17 in Jan 2023
Condo Median Sales Price -2% ~ $884,250. in Jan 2024 vs. $900,000. in Jan 2023
Condo Average Sales Price –6% ~ $950,000. in Jan 2024 vs. $1,015,628. in Jan 2023
Condo – Year to Date
Condos Sold +53%
Median Sales Price -2%
Average Price -6%
Inventory
There was 2.03 months of inventory in January. It has been like this for nearly 4 years!
Pending Sales
There were 101 pending sales in January. It has held steady in this range for all of 2023.
Price Reductions
There were 53 price reductions in January. It has held this range for the last 7 months.
Sales Price % to Original List Price
January homes and condos sold at 94.1% of original list price.
Of the 85 sales of homes and condos sold in January, 64 or 75.2% were above $1,000,000.
Cash Sales
41% of all sales in January were cash.
Days on Market
30 days for single family homes
24 days for condos
Year over Year Price Report for January
Santa Barbara Median Sales Price +30% ~ $2,120,000. in Jan 2024 vs. $1,630,000. in Jan 2023
Santa Barbara Average Sales Price -1.3% ~ $2,475,761. in Jan 2024 vs. $2,572,202. in Jan 2023
Montecito Median Sales Price -4.4% ~ $4,587,500. in Jan 2024 vs. $4,800,000. in Jan 2023
Montecito Average Sales Price -15.8% ~ $5,277,500. in Jan 2022 vs. $6,265,000. in Jan 2023
Hope Ranch Median Sales Price -2.3% ~ $5,935,000. in Jan 2024 vs. $6,072,500. in Jan 2023
Hope Ranch Average Sales Price -2.3% ~ $5,935,000. in Jan 2024 vs. $6,072,500. in Jan 2023
Summerland Median Sales Price +146.7% ~ $3,700,000. in Jan 2024 vs. $1,500,000. in Jan 2023
Summerland Average Sales Price +146.7% ~ $3,700,000. in Jan 2024 vs. $1,500,000. in Jan 2023
Carpinteria Median Sales Price +113% ~ $2,447,500. in Jan 2024 vs. $1,150,000. in Jan 2023
Carpinteria Average Sales Price -33.4% ~ $2,447,500. in Jan 2024 vs. $3,676,000. in Jan 2023
Goleta Median Sales Price +14.9% ~ $1,565,000. in Jan 2024 vs. $1,362,500. in Jan 2023
Goleta Average Sales Price +16.9% ~ $1,692,962. in Jan 2024 vs. $1,448,794. in Jan 2023
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of Feb 13, 2024. This includes both off market and MLS data combined.