Santa Barbara Real Estate Statistical Update – March 2020
South Coast Snapshot….
Single Family Homes Sold -12% ~ 93 in Mar 2020 vs. 106 in Mar 2019
Single Family Median Sales Price +8% ~ $1,305,000. in Mar 2020 vs. $1,210,000. in Mar 2019
Single Family Average Sales Price +9% ~ $1,658,430. in Mar 2020 vs. $1,526,217.in Mar 2019
Single Family Homes Sold Year to Date +5%
Single Family Median Sales Price Year to Date +2%
Single Family Average Sales Price Year to Date -14%
Condos Sold -48% ~ 36 in Mar 2020 vs. 68 in Mar 2019
Condos Median Sales Price -9% ~ $646,000. in Mar 2020 vs. $712,500. in Mar 2019
Condos Average Sales Price flat ~ $799,750. in Mar 2020 vs. $799,794 in Mar 2019
Condos Sold Year to Date -27%
Condos Median Sales Price Year to Date -1%
Condos Average Sales Price Year to Date +6%
Inventory
March marks the 5th consecutive month of very low inventory. There was 3.22 months of supply in March, 3.58 months in February, 3.23 months in January, 3.19 months in December and 3.77 months in November. 6 months of supply is a balanced market. Inventory ranged in the 4 to 5 months supply for the majority of 2019.
Price Reductions
There were 89 price reductions in March. There were 86 price reductions in February and 106 in January. The majority of 2019 ranged in the 100-200 price reductions per month.
Days on Market
81 Days on Market Single Family Homes
61 Days on Market for Condos
This is a very consistent metric.
Percentage of Sales over $1,0000,000.
Of the 129 Sales of Homes and Condos Sold in March, 77 or 59.7% were above $1,000,000. This is also a very consistent metric
Year over Year Price Report
Santa Barbara Median Sales Price +11.1% ~ $1,345,000. in Mar 2020 vs. $1,210,000. in Mar 2019
Santa Barbara Average Sales Price +1.6% ~ $1,456,143. in Mar 2020 vs. $1,432,750. in Mar 2019
Montecito Median Sales Price -0.5% ~ $2,837,750. in Mar 2020 vs. $2,851,000. in Mar 2019
Montecito Average Sales Price -6.6% ~ $3,195,607. vs. $3,422,333. in Mar 2019
Hope Ranch Median Sales Price +32.2% ~ $3,900,000. in Mar 2020 vs. $2,948,000. in Mar 2019
Hope Ranch Average Sales Price +21.4% ~ $4,016,667. in Mar 2020 vs. $3,307,667. in Mar 2019
Summerland Median Sales Price NA ~ $1,380,000. in Mar 2020 vs. no sales in Mar 2019
Summerland Average Sales Price NA ~ $1,380,000. in Mar 2020 vs. no sales in Mar 2019
Carpinteria Median Sales Price -26% ~ $899,000. in Mar 2020 vs. $1,215,000. in Mar 2019
Carpinteria Average Sales Price -18.1% ~ $950,400. in Mar 2020 vs. $1,161,667. in Mar 2019
Goleta Median Sales Price +14.5% ~ $1,037,000. in Mar 2020 vs. $905,500. in Mar 2019
Goleta Average Sales Price +0.85% ~ $1,076,982. in Mar 2020 vs. $1,067,897, in Mar 2019
Source: CORT INDATA as of April 14, 2020. This includes both off market and MLS data combined
Call or text Wendy Gragg at 805.453.3371 for more information.
