Santa Barbara Real Estate Statistical Update – June 30, 2015. Half way through the year, the Santa Barbara real estate market remains strong. It’s been very low supply and very high demand. Santa Barbara is used to low supply and high demand. The low supply comes from the geographic boundaries of the ocean and the mountains, as well as the political will of Santa Barbara to restrict development, overcrowding and traffic congestion. The high demand is from Santa Barbara being a beautiful ocean front resort community with great weather and a terrific quality of life.
The number of Santa Barbara homes sold is up 16.2% over this time last year. The number of Santa Barbara homes listed for sale is up 10.1% over this time. The Santa Barbara median sales price is $875,000. That is up 1.7% over this time last year when the Santa Barbara median sales price was $860,000.
The Santa Barbara luxury real estate market is especially strong. The number of Santa Barbara luxury homes is up 51.9% year over year. The number of Santa Barbara luxury homes listed for sale is up 17.1%. The Santa Barbara luxury real estate market median sales price currently stands at $7,000,000. That is down 1.4% over last year when the Santa Barbara luxury real estate median sales price was $7,100,000.
The Montecito real estate market is also especially strong. The number of Montecito homes sold is up 7.0% over last year. The number of Montecito homes listed for sale is up 2.4%. The Montecito median sales price is $2,968,785. That is up 11.4% over last year when the Montecito median sales price was $2,665,000.
The Montecito luxury real estate market is strongest of all real estate sectors in Santa Barbara. The number of Montecito luxury homes sold is up 91.7% year over year. The number of Montecito luxury homes listed for sale is up 27.8% over this same time. The Montecito luxury real estate median sales price is $7,000,000. That is down 5.1% from last year when the Montecito luxury real estate median sales price was $7,375,000.
To discuss your Santa Barbara or Montecito real estate needs, call or text Wendy Gragg at 805.453.3371 or email WGragg@DistinctiveRealEstateOnline.com
Click SANTA BARBARA HOMES FOR SALE to view up to the minute inventory of homes for sale in Santa Barbara.
Click SANTA BARBARA LUXURY REAL ESTATE to view luxury homes in Santa Barbara and Montecito.
Click SANTA BARBARA DREAM HOME FINDER to receive email updates of new listings and price reductions matching criteria you specify.
I look forward to being of service to you. Wendy Gragg, Broker/President, Distinctive Real Estate 805.453.3371 – WGragg@DistinctiveRealEstateOnline.com
