Santa Barbara Real Estate Statistical Update ~ February 2021
The Market is on Fire!
Single Family Homes Sold +20% ~ 110 in Feb 2021 vs. 92 in Feb 2020
Single Family Median Sales Price +61% ~ $1,914,000. in Feb 2021 vs. $1,189,500. in Feb 2020
Single Family Average Sales Price +62% ~ $2,831,259. in Feb 2021 vs. $1,744,859. in Feb 2020
Single Family Year to Date ~ Homes Sold +9% ~ Median Sales Price +24% ~ Average Sales Price +64%
Condos Sold -25% ~ 27 in Feb 2021 vs. 36 in Feb 2021
Condo Median Sales Price +27% ~ $865,000. in Feb 2021 vs. $682,500. in Feb 2020
Condo Average Sales Price +29% ~ $1,107,652. in Feb 2021 vs. $861,681. in Feb 2020
Condo Year to Date ~ Condos Sold -3% ~ Median Sales Price +5% ~ Average Sales Price +14%
Inventory
February had a shockingly low 1.4 months of supply. January had only 1.44 months of inventory. Multiple offers are common as Buyers fight for the very little inventory to choose from.
Pending Sales
There were 178 pending sales in February. There were 158 in January. Pending sales ranged from a high of 286 in September to a low of 65 in April 2020.
Price Reductions
There were only 25 price reductions in February. There were 29 in January. Price reductions ranged from a high of 127 in July to a low of 52 in April 2020.
Sales Price % to Original List Price
January homes and condos sold at 99% of original list price. Multiple offers resulting in selling prices above asking prices is a factor.
Of the 137 sales of homes and condos in February, 104 or 75.9% were above $1,000,000.
Days on Market
69 days for single family homes ~ 61 days for condos
Year over Year Price Report
Santa Barbara Median Sales Price +52.6% ~ $1,792,500. in Feb 2021 vs. $1,174,500. in Feb 2020
Santa Barbara Average Sales Price +27.1% ~ $2,032,267. in Feb 2021 vs. $1,599,577. in Feb 2020
Montecito Median Sales Price +98% ~ $5,244,750. in Feb 2021 vs. $2,650,000. in Feb 2020
Montecito Average Sales Price +48.5% ~ $4,175,000. in Feb 2021 vs. $2,810,667. in Feb 2020
Hope Ranch Median Sales Price n/a ~ $4,500,000. in Feb 2021 vs. no sales in Feb 2020
Hope Ranch Average Sales Price n/a ~ $4,264,286. in Feb 2021 vs. no sales in Feb 2020
Summerland Median Sales Price n/a ~ $1,850,000. in Feb 2021 vs. no sales in Feb 2020
Summerland Average Sales Price n/a ~ $1,850,000. in Feb 2021 vs. no sales in Feb 2020
Carpinteria Median Sales Price 105.4% ~ $2,175,000. in Feb 2021 vs. $1,058,500. in Feb 2020
Carpinteria Average Sales Price +110.2% ~ $3,732,500. in Feb 2021 vs. $1,775,667. in Feb 2020
Goleta Median Sales Price +17.7% ~ $1,043,500. in Feb 2021 vs. $886,000. in Feb 2020
Goleta Average Sales Price +21.7% ~ $1,181,120. in Feb 2021 vs. $970,500. in Feb 2020
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Source: CORT INDATA as of March 13, 2021. This includes both off market and MLS data combined.