Inventory Continues to Increase
Price Reductions Remain Elevated
Single Family Homes Sold +4% ~ 84 in June 2025 vs. 81 in June 2024
Single Family Median Sales Price +7% ~ $2,138,830. in June 2025 vs. $1,995,000. in June 2024
Single Family Average Sales Price -33% ~ $3,263,066 in June 2025 vs. $4.884,338 in June 2024
Year to Date Single Family
Homes Sold +10%
Median Sales Price +8%
Average Sales Price -2%
Condos Sold -26% – 29 in June 2025 vs. 39 in June 2024
Condo Median Sales Price -8% ~ $999,000. in June 2025 vs. $1,085,000. in June 2024
Condo Average Sales Price +12% ~ $1,429,585. in June 2025 vs. $1,277,624. in June 2024
Year to Date Condos
Condos Sold +4%
Median Sales Price +19%
Average Sales Price +27%
Inventory ~ Inventory has increased every month this year. There was 3.72 months of supply in June. There was 3.49 months in May, 3.38 months in April, 2.95 months in March, 2.68 months in February and 2.62 months in January.
Pending Sales ~ There were 137 pending sales in June. There were 136 in May, 130 in April and March. This is slightly above the 120 range it has held for the last couple years.
Price Reductions ~ Price reductions are at the high end of the range. There were 107 price reductions in June. There were 100 in May, 115 in April, 90 in March, 65 in February, and 61 in January. Price reductions in 2024 ranged from a low of 38 in February to a high of 98 in October.
Sales Price Percentage to Original List Price ~ June homes and condos sold at 96% of original list price. Of the 113 sales, 94 or 83.2% were above $1,000,000.
Cash Sales ~ 40% of all sales in June were cash. Year to date, 39% of all sales were cash.
Days on Market ~ 32 days for single family homes :: 24 days for condos
YEAR OVER YEAR PRICE REPORT FOR JUNE
Santa Barbara Median Sales Price -8.5% ~ $1,885,000. in June 2025 vs. $2,060,000 in June 2024
Santa Barbara Average Sales Price -7.5% ~ $2,424,896 in June 2025 vs. $2,622,773. in June 2024
Montecito Median Sales Price -9.2% ~ $8,084,688 in June 2025 vs. $8,900,000. in June 2024
Montecito Average Sales Price -16.5% ~ $9,195,438 in June 2025 vs. $11,016,312. in June 2024
Hope Ranch Median Sales Price +33.3% ~ $6,300,000. in June 2025 vs. $4,724,063 in June 2024
Hope Ranch Average Sales Price +35.1% ~ $6,383,658. in June 2025 vs. $4,724,063 in June 2024
Summerland Median Sales Price -30% ~ $1,800,000. in June 2025 vs. $2,572,500. in June 2024
Summerland Average Sales Price -30% ~ $1,800,000. in June 2025 vs. $2,572,500. in June 2024
Carpinteria Median Sales Price -9.7% ~ $2,166,500. in June 2025. vs. $2,400,000. in June 2024
Carpinteria Average Sales Price -736.14% ~ $2,532,878. in June 2025 vs. $21,179,000. in June 2024
Goleta Median Sales Price +14.7% ~ $1,865,000. in June 2025 vs. $1,625,000. in June 2024
Goleta Average Sales Price +18.9% ~ $2,114,683. in June 2025 vs. $1,777,870. in June 2024
Source: CORT INDATA as of July 11, 2025. This includes both off market and MLS data combined.
Contact Wendy Gragg for more information :: 805.453.3371