Santa Barbara Real Estate Statistical Update – May 15, 2015. The Santa Barbara real estate market remains strong. High demand and short supply continues. The number of Santa Barbara homes sold is up 22.2% over last year. The number of Santa Barbara homes listed for sale is up 8.9%. The Santa Barbara median sales price is currently $865,000. That is up 1.8% over this time last year when the Santa Barbara median sales price was $850,000.
The Santa Barbara luxury real estate market remains very strong. The number of Santa Barbara luxury homes sold is up 83.3% over this time last year. The number of luxury homes listed for sale in Santa Barbara is up 34.5%. This number is slightly skewed by homes that are re-listed for sale after being taken off the market for a while. The Santa Barbara luxury real estate median sales price is now $6,845,000. That is down 2.2% from this time last year when the Santa Barbara luxury real estate median sales price was $7,000,000.
The Montecito real estate market is also very strong with very high demand and short supply. The number of Montecito homes sold is up 23.6% over last year. The number of Montecito homes listed for sale is down 6.8%. The Montecito median sales price is currently $2,800,000. That is up 5.1% from this time last year when the Montecito median sales price was $2,665,000.
The Montecito luxury real estate market is red hot! The number of Montecito luxury homes sold is up an incredible 183.3% over this time last year. The number of Montecito luxury homes listed for sale is up 46.2% although this is skewed by re-listings. The Montecito luxury median sales price is now $6,845,000. Yes, that’s the same as Santa Barbara luxury real estate meaning that all luxury sales are currently in Montecito. The Montecito luxury median sales price is down 22.2% over this time last year when the Montecito luxury median sales price was $8,800,000.
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To discuss your real estate needs, call Wendy Gragg at 805.453.3371 or email WGragg@DistinctiveRealEstateOnline.com