Highest Total of Luxury Sales for January Ever
$136 million
Single Family Homes Sold +19% ~ 70 in Jan 2025 vs. 59 in Jan 2024
Single Family Median Sales Price +19%~ $2,875,000. in Jan 2025 vs. $2,425,000. in Jan 2024
Single Family Average Sales Price +51% ~ $4,822,622. in Jan 2025 vs. $3,200,139. in Jan 2024
Condos Sold +8% ~ 28 in Jan 2025 vs. 26 in Jan 2024
Condo Median Sales Price +13% ~ $1,000,000. in Jan 2025 vs. $884,250. in Jan 2024
Condo Average Sales Price +66% ~ 1,575,549. in Jan 2025 vs. $950,000. in Jan 202
Inventory
There was 2.62 months of supply in January. This continues the 5 year long run of exceptionally low inventory.
Pending Sales
There were 118 pending sales in January. This is in the range it has held for all of 2023 and most of 2024.
Price Reductions
There were 61 price reductions in January. This is up substantially from 45 in December.
Sales Price % to Original List Price
January homes and condos sold at 92.9% of original list price.
Of the 98 sales of homes and condos sold in January, 82 or 83.6% were above $1,000,000.
Cash Sales
45% of all sales in January were cash.
Days on Market
38 days for single family homes
31 days for condos
Year over Year Price Report for January
Santa Barbara Median Sales Price +17.9% ~ $2,500,000. in Jan 2025 vs. $2,120,000. in Jan 2024
Santa Barbara Average Sales Price +6.6% ~ $2,638,772. in Jan 2025 vs. $2,475,761. in Jan 2024
Montecito Median Sales Price +78.5% ~ $8,187,500. in Jan 2025 vs. $4,587,500. in Jan 2024
Montecito Average Sales Price +97.2% ~ $10,408,630. in Jan 2025 vs. $5,277,500. in Jan 2024
Hope Ranch Median Sales Price -43.2% ~ $3,370,000. in Jan 2025 vs. $5,935,000. in Jan 2024
Hope Ranch Average Sales Price -43.2% ~ $3,370,000. in Jan 2025 vs. $5,935,000. in Jan 2024
Summerland Median Sales Price -37% ~ $2,328,500. in Jan 2025 vs. $3,700,000. in Jan 2024
Summerland Average Sales Price -37% ~ $2,328,500. in Jan 2025 vs. $3,700,000. in Jan 2024
Carpinteria Median Sales Price -18.2% ~ $2,000,000 in Jan 2025 vs. $2,447,500. in Jan 2024
Carpinteria Average Sales Price +66.5% ~ $4,075,002. in Jan 2025 vs. $2,447,500. in Jan 2024
Goleta Median Sales Price -4.2% ~ $1,500,000. in Jan 2025 vs. $1,565,000. in Jan 2024
Goleta Average Sales Price -12.3% ~ $1,484,959. in Jan 2025 vs. $1,692,962. in Jan 2024
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.