Santa Barbara Real Estate Statistical Update ~ November 2021
Sales Plummet for 3rd Consecutive Month Amid Low Inventory
Single Family Homes Sold -33% ~ 99 in Nov 2021 vs. 148 in Nov 2020
Single Family Median Sales Price +28% ~ $2,100,000. in Nov 2021 vs. $1,644,500. in Nov 2020
Single Family Average Sales Price +11% ~ $2,880,279. in Nov 2021 vs. $2,594,402. in Nov 2020
Single Family Year to Date ~ Homes Sold +7% ~ Median Sales Price +25% ~ Average Sales Price +28%
Condos Sold flat ~ 56 in Nov 2021 vs. 56 in Nov 2021
Condo Median Sales Price +2% ~ $842,500. in Nov 2021 vs. $822,500. in Nov 2020
Condo Average Sales Price +15% ~ $1,070,190. in Nov 2021 vs. $927,384. in Nov 2020
Condo Year to Date ~ Condos Sold +19% ~ Median Sales Price +13% ~ Average Sales Price +18%
Inventory
In November 2020 we had 1.99 months of supply. In November 2021 we had only 0.94 months of supply! October had 0.98 months of supply, September had 1.12 months of supply, August had 1.17 months, July also had 1.17 months, June had 1.24 months, 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. December 2020 had 1.61 months & November 2020 had 1.99 months.
Pending Sales
There were 131 pending sales in November. This is the lowest number of pending sales in 2021. There were 172 pending sales in October, 160 in September, 174 in August, 220 in July, 205 in June, 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 36 price reductions in November. There were 25 in October, 41 in September, 40 in August, 45 in July, 51 in June, 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
November homes and condos sold at 102% of original list price. There are still multiple offers, mostly at the lower range of the market.
Of the 155 sales of homes and condos sold in November, 111 or 71.2% were above $1,000,000.
Cash Sales
35% of all sales in November were cash. Year to date, 33% of all sales were cash.
Days on Market
39 days for single family homes ~ 25 days for condos
Year over Year Price Report
Santa Barbara Median Sales Price +25.5% ~ $1,882,000. in Nov 2021 vs. $1,500,000. in Nov 2020
Santa Barbara Average Sales Price +30.8% ~ $2,101,279. in Nov 2021 vs. $1,607,031. in Nov 2020
Montecito Median Sales Price +6.5% ~ $4,150,000. in Nov 2021 vs. $3,895,000. in Nov 2020
Montecito Average Sales Price -2% ~ $5,644,485. in Nov 2021 vs. $5,764,095. in Nov 2020
Hope Ranch Median Sales Price +62% ~ $4,762,500. in Nov 2021 vs. $2,947,000. in Nov 2020
Hope Ranch Average Sales Price +89% ~ $5,582,500. in Nov 2021 vs. $2,947,000. in Nov 2020
Summerland Median Sales Price +33% ~ $2,900,000. in Nov 2021 vs. $2,180,000. in Nov 2020
Summerland Average Sales Price +28.8% ~ $2,900,000. in Nov 2021 vs. $2,251,143. in Nov 2020
Carpinteria Median Sales Price +45.7% ~ $1,450,000. in Nov 2021 vs. $995,000. in Nov 2020
Carpinteria Average Sales Price +36.7% ~ $1,611,333. in Nov 2021 vs. $1,178,591. in Nov 2020
Goleta Median Sales Price +21.4% ~ $1,312,000. in Nov 2021 vs. $1,080,500. in Nov 2020
Goleta Average Sales Price +23.7% ~ $1,584,094. in Nov 2021 vs. $1,280,500. in Nov 2020
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of December 17, 2021. This includes both off market and MLS data combined.