42% of All Sales in June Were Cash
41% Were All Cash in May
Single Family Homes Sold -25% ~ 82 in June 2023 vs. 109 in June 2022
Single Family Median Sales Price +4% ~ $2,372,500. in June 2023 vs. $2,275,000. in June 2022
Single Family Average Sales Price +8% ~ $3,437,169. in June 2023 vs. $3,117,810. in June 2022
Single Family – Year to Date
Homes Sold -17%
Median Sales -6%
Average Sales Price -8%
Condos Sold -11% ~ 34 in June 2023 vs. 38 in June 2022
Condo Median Sales Price -13% ~ $920,000. in June 2023 vs. $1,063,500. in June 2022
Condo Average Sales Price -14% ~ $1,146,794. in June 2023 vs. $1,330,174. in June 2022
Condo – Year to Date
Condos Sold -22%
Median Sales Price +2%
Average Price +1%
Inventory
There was 2.06 months of supply in June. Inventory has been below 2 months of supply for nearly 3 years – that’s 31 consecutive months!
Pending Sales
There were 113 pending sales in June. There were 114 in May, 108 in April, 100 in March, 105 pending in February and 74 in January.
Price Reductions
There were 42 price reductions in June. There were 51 in May, 36 in April, 41 in March, 38 price reductions in February and 27 in January.
Sales Price % to Original List Price
June homes and condos sold at 99.3% of original list price.
Of the 116 sales of homes and condos sold in June, 93 or 80.2% were above $1,000,000.
Cash Sales
41% of all sales in June were cash.
Year to date, 38% of all sales were cash.
Days on Market
30 days for single family homes
24 days for condos
Year over Year Price Report for June
Santa Barbara Median Sales Price -2.2% ~ $2,150,000. in June 2023 vs. $2,200,000. in June 2022
Santa Barbara Average Sales Price +3.7% ~ $2,520,217. in June 2023 vs. $2,429,830. in June 2022
Montecito Median Sales Price +27% ~ $6,100,000. in June 2023 vs. $4,800,000. in June 2022
Montecito Average Sales Price +18.6% ~ $6,831,882. in June 2022 vs. $5,762,603. in June 2022
Hope Ranch Median Sales Price -41.3% ~ $4,575,000. in June 2023 vs. $7,800,000. in June 2022
Hope Ranch Average Sales Price -49.4% $4,575,000. in June 2023 vs. $9,050,200. in June 2022
Summerland Median Sales Price N/A ~ no sales in June 2023 vs. $10,200,000. in June 2022
Summerland Average Sales Price N/A ~ no sales in June 2023 vs.$10,200,000. in June 2022
Carpinteria Median Sales Price -4.4% ~ $1,612,500. in June 2023 vs. $1,687,500. in June 2022
Carpinteria Average Sales Price -35% ~ $1,874,333. in June 2023 vs. $2,883,750. in June 2022
Goleta Median Sales Price +5.2% ~ $1,682,900. in June 2023 vs. $1,600,000. in June 2022
Goleta Average Sales Price -9.7% ~ $2,241,584. in June 2023 vs. $1,796,581. in June 2022
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of July 12, 2023. This includes both off market and MLS data combined.