July 2019 South Coast Snapshot
117 single family homes sold in July. That is up 27% from last July. 78 condos sold in July. That is up 13% from last July. The median sales price of single family homes was $1,172,000. That is flat from last July. The average sales price of single family homes wasw $1,912,491. That is up 20% from last year. The median sales price of condos was $633,750. That is down 12% from last year. The average price for condos was $809,445. That is down 1% from last year.
Year to date, single family sales are up 8%, condos sales are up 24%. Median sales price of single family homes is up 4%. Average sales price of single family homes is up 11%. Median sales price of condos is up 42%. Average sales price of condos is down 2.5%.
Inventory continues to creep up. There was 5.30 months of supply for July. It was 5.13 months in June, 5.05 months in May, 5.12 months in April, 4.63 months in March, 4.16 months in February and 4.18 months in January.
There were 191 price reductions in July. There were 160 in June, 152 in May, 154 in April, 108 in March, 98 in February and 140 in January.
Average number of days on the market for single family homes is 72 days.
Average number of days on the market for condos is 66 days.
The majority of sales are below $3,000,000.
Of the 195 sales of homes and condos in July, 109 were below $1,000,000.
Year over Year Price Report
Santa Barbara Median Price $915,000. -13% Santa Barbara Average Price $1,174,807 +3%
Montecito Median Price $2,832,750. +7% Montecito Average Price $3,674,975. +41%
Hope Ranch Median Price $1,875,000. -41% Hope Ranch Average Price $1,875,000. -66%
Summerland Median Price $1,362,500. +1% Summerland Average Price $1,362,500. +1%
Carpinterial Median Price $875,000. +13% Carpinteria Average Price $2,519,400. +200%
Goleta Median Price $850,000. +7% Goleta Average Price $983,762. +18%
Source: CORT Indata as of July 2019