November 2019 South Coast Snapshot…
83 single family homes sold in November. This is down 9% from last November. 40 condos sold in November. That is up 21%. The median sales price of single family homes was $1,275,000. That is up 19% from last November. The average sales price of single family homes was $1,710,735. That is up 14% from last year. The median sales price of condos was $665,000. That is up 2% from last year. The average price of condos was $945,688. That is up 25% from last year.
Year to date, single family sales are up 5%, condos are up 10%. Median sales price of single family homes is up 4%. Average sales price of single family homes is up 11%. Median sales price of condos is up 2.2%. Average sales price of condos is down 1%.
There was 3.77 months of supply in November. This is the lowest inventory we saw all year. There was 4.66 months of supply in October, 5.05 months in September, 5.30 months in August, 5.30 months in July, 5.13 months in June, 5.05 months in May, 5.12 months in April, 4.63 months in March, 4.16 months in February and 4.18 months in January.
There were 109 price reductions in November. This is also among the lowest all year. There were 185 price reductions in October, 179 in September, 165 in August, 191 in July, 160 in June, 152 in May, 154 in April, 108 in March, 98 in February and 140 in January.
Average number of days on the market for single family homes is 79 days.
Average number of days on the market for condos is 62 days.
The majority of sales are below $3,000,000.
Of the 123 sales of homes and condos sold in November, 52 or 42.2% were below $1,000,000.
Year over Year Price Report
Santa Barbara Median Sales Price $1,135,000. +3% ~ Santa Barbara Average Sales $1,298,811. +1%
Montecito Median Sales Price $2,990,000. +25% ~ Montecito Average Sales Price $3,416,269. +16%
Hope Ranch Median Sales Price $2,511,000. -55% ~ Hope Ranch Average Sales Price $2,511,000. -55%
Summerland had no sales in November 2018 or November 2019
Carpinteria Median Sales Price $840,000. -13% ~ Carpinteria Average Sales Price $1,546,083. -12%
Goleta Median Sales Price $890,000. +7% ~ Goleta Average Sales Price $1,022,337. +16%
Source: CORT Indata as of November 2019
