Santa Barbara Real Estate Statistical Update ~ June 2021
Only 1 Month of Inventory for all of 2021
Demand Remains Strong
Single Family Homes Sold +13% ~ 133 in June 2021 vs. 118 in June 2020
Single Family Median Sales Price +30% ~ $1,852,000. in June 2021 vs. $1,425,000. in June 2020
Single Family Average Sales Price +15% ~ $2,645,206. in June 2021 vs. $2,296,115. in June 2020
Single Family Year to Date ~ Homes Sold +56% ~ Median Sales Price +51% ~ Average Sales Price +66%
Condos Sold +51% ~ 65 in June 2021 vs. 43 in June 2021
Condo Median Sales Price +31% ~ $849,500. in June 2021 vs. $650,000. in June 2020
Condo Average Sales Price +6% ~ $1,047,323. in June 2021 vs. $811,442. in June 2020
Condo Year to Date ~ Condos Sold +71% ~ Median Sales Price +14% ~ Average Sales Price +21%
Inventory
June marks the 6th consecutive month of 1 month of inventory with 1.24 months of supply. May had 1.2 months, April had 1.05 months, March had 1.8 months, February had 1.4 months and January had 1.44 months of supply. Lack of supply is driving multiple offers.
Pending Sales
There were 205 pending sales in June. There were 176 in May, 202 in April, 193 in March, 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 51 price reductions in June. There were 42 in May, 39 in April, 29 in March, 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
June homes and condos sold at 102.5% of original list price due to several multiple offers resulting in selling prices above asking.
Of the 198 sales of homes and condos sold in June, 146 or 73.7% were above $1,000,000.
Days on Market
57 days for single family homes ~ 47 days for condos
Year over Year Price Report
Santa Barbara Median Sales Price +13.7% ~ $1,677,500. in June 2021 vs. $1,475,000. in June 2020
Santa Barbara Average Sales Price +22.8% ~ $1,987,874. in June 2021 vs. $1,617,663. in June 2020
Montecito Median Sales Price -3.8% ~ $3,795,000. in June 2021 vs. $3,937,500. in June 2020
Montecito Average Sales Price +0.15% ~ $4,968,489. in June 2021 vs. $4,961,273. in June 2020
Hope Ranch Median Sales Price +145% ~ $6,300,000. in June 2021 vs. $2,572,000. in June 2020
Hope Ranch Average Sales Price +144% ~ $6,391,667. in June 2021 vs. $2,615,667. in June 2020
Summerland Median Sales Price -40.2% ~ $3,050,000. in June 2021 vs. $5,103,500. in June 2020
Summerland Average Sales Price -36.7% ~ $3,050,000. in June 2021 vs. $4,845,200. in June 2020
Carpinteria Median Sales Price +15.3% ~ $1,200,000. in June 2021 vs. $1,040,000. in June 2020
Carpinteria Average Sales Price -7.3% ~ $1,639,643. in June 2021 vs. $1,769,795. in June 2020
Goleta Median Sales Price +38.4% ~ $1,350,000. in June 2021 vs. $975,000. in June 2020
Goleta Average Sales Price +53.8% ~ $1,561,743. in June 2021 vs. $1,015,118. in June 2020
Call or text Wendy Gragg at 805.453.3371 for more information.
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Source: CORT INDATA as of July 13, 2021. This includes both off market and MLS data combined.