Santa Barbara Real Estate Statistical Update ~ March 2021
Median and Average Sales Price at their Highest Ever!
Please Note Covid Negatively Impacted the Market in March 2020
Single Family Homes Sold +71% ~ 156 in Mar 2021 vs. 91 in Mar 2020
Single Family Median Sales Price +54% ~ $2,052,500. in Mar 2021 vs. $1,330,000. in Mar 2020
Single Family Average Sales Price +113% ~ $3,576,920. in Mar 2021 vs. $1,676,022. in Mar 2020
Single Family Year to Date ~ Homes Sold +37% ~ Median Sales Price +45% ~ Average Sales Price +82%
Condos Sold +127% ~ 84 in Mar 2021 vs. 37 in Mar 2021
Condo Median Sales Price +27% ~ $827,750. in Mar 2021 vs. $652,000. in Mar 2020
Condo Average Sales Price +27% ~ $1,022,238. in Mar 2021 vs. $805,432. in Mar 2020
Condo Year to Date ~ Condos Sold +44% ~ Median Sales Price +16% ~ Average Sales Price +20%
Inventory
March delivered another a shockingly low 1.8 months of supply. February had 1.4 months of supply. January had 1.44 months of supply. Multiple offers are common as Buyers fight for the very little inventory to choose from.
Pending Sales
There were 193 pending sales in March. There were 178 in February and 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 29 price reductions in March. There were 25 in February and 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
March homes and condos sold at 101% of original list price due to several multiple offers resulting in selling prices above asking.
Of the 240 sales of homes and condos sold in March, 167 or 69.6% were above $1,000,000.
Days on Market
68 days for single family homes ~ 57 days for condos
Year over Year Price Report
Santa Barbara Median Sales Price +31.1% ~ $1,763,500. in Mar 2021 vs. $1,345,000. in Mar 2020
Santa Barbara Average Sales Price +27.1% ~ $2,167,516. in Mar 2021 vs. $1,456,143. in Mar 2020
Montecito Median Sales Price +70.3% ~ $4,832,500. in Mar 2021 vs. $2,837,250. in Mar 2020
Montecito Average Sales Price +117.2% ~ $6,941,750. in Mar 2021 vs. $3,195,607. in Mar 2020
Hope Ranch Median Sales Price +20.4% ~ $4,695,500. in Mar 2021 vs. $3,900,000. in Mar 2020
Hope Ranch Average Sales Price -0.43% ~ $3,999,300. in Mar 2021 vs. $4,016,667. in Mar 2020
Summerland Median Sales Price +304% ~ $5,575,000. in Mar 2021 vs. $1,380,000. in Mar 2020
Summerland Average Sales Price +304% ~ $5,575,000. in Mar 2021 vs. $1,380,000. in Mar 2020
Carpinteria Median Sales Price +33.5% ~ $1,200,000. in Mar 2021 vs. $899,000. in Mar 2020
Carpinteria Average Sales Price +372.6% ~ $4,491,429. in Mar 2021 vs. $950,400. in Mar 2020
Goleta Median Sales Price +21.3% ~ $1,257,500. in Mar 2021 vs. $1,037,000. in Mar 2020
Goleta Average Sales Price +40% ~ $1,507,500. in Mar 2021 vs. $1,076,982. in Mar 2020
Call or text Wendy Gragg at 805.453.3371 for more information.
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Source: CORT INDATA as of April 15, 2021. This includes both off market and MLS data combined.