September 2019 South Coast Snapshot…
106 single family homes sold in September. That is up 23% from last September. 50 condos sold in September. That is down 18%. The median sales price of single family homes was $1,225,000. That is up 8% from last September. The average sales price of single family homes was $2,029,354. That is up 15% from last year. The median sales price of condos was $694,500. That is down 2% from last year. The average sales price for condos was $716,480. That is down 13% from last year.
Year to date, single family sales are up 8%, condo sales are up 9%. Median sales price of single family homes is up 4%. Average price of single family homes is up 9%. Median sales price of condos is up 2%. Average sales price of condos is down 2%.
There was 5.05 months of supply in September. It has held in the 5 month range since April. It was 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 179 price reductions 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 familyhomes is 74 days.
Average number of days on the market for condos is 61 days.
The majority of sales are below $3,000,000.
Of the 156 sales of homes & condos sold in September, 79 were below $1,000,000.
Year Over Year Price Report
Santa Barbara Median Sales Price $1,012,500. -28% ~ Santa Barbara Average Sales Price $1,104,031. – 15%
Montecito Median Sales Price $2,600,000. +3% ~ Montecito Average Sales Price $3,633,452. -20%
Hope Ranch Median Sales Price $4,742,500. +64% ~ Hope Ranch Average Sales Price $5,122,000. +46%
Summerland Median Sales Price $1,002,500. -38% ~ Summerland Average Sales Price $1,002,500. -38%
Carpinteria Median Sales Price $850,000. +30% ~ Carpinterial Average Sales Price $2,723,182. +144%
Goleta Median Sales Price $821,750. +3% ~ Goleta Average Sales Price $954,204. +13%
Source: CORT Indata as of September 2019