Santa Barbara Real Estate Statistical Update ~ January 2022
Sales Down ~ Prices Up
Single Family Homes Sold -31% ~ 79 in Jan 2022 vs. 115 in Jan 2021
Single Family Median Sales Price +15% ~ $1,950,000. in Jan 2022 vs. $1,699,500. in Jan 2021
Single Family Average Sales Price +25% ~ $3,404,999. in Jan 2022 vs. $2,721,004. in Jan 2021
Single Family Year to Date ~ Homes Sold -31% ~ Median Sales Price +15% ~ Average Sales Price +25%
Condos Sold -33% ~ 28 in Jan 2022 vs. 42 in Jan 2021
Condo Median Sales Price +19% ~ $875,000. in Jan 2022 vs. $733,000. in Jan 2021
Condo Average Sales Price +12% ~ $991,464. in Jan 2022 vs. $885,464. in Jan 2021
Condo Year to Date ~ Condos Sold -33% ~ Median Sales Price +19% ~ Average Sales Price +12%
Inventory
There was 0.81 months of supply in January. This is the 4th consecutive month of less than 1 month of supply. January 2021 had 1.44 months – almost double the inventory!
Pending Sales
There were 110 pending sales in January. There was 158 pending sales in January 2021. Pending sales ranged from a high of 220 in July 2021 to a low of 98 in December 2021.
Price Reductions
There were 29 price reductions in January. The same as last January. Price reductions ranged from a high of 51 in June 2021 to a low of 21 in December 2021.
Sales Price % to Original List Price
January homes and condos sold at 100.5% of original list price. Multiple offers are mostly at the lower range of the market. Some high end properties are reducing price.
Of the 107 sales of homes and condos sold in January, 86 or 80.3% were above $1,000,000.
Cash Sales
30% of all sales in January were cash.
33% of all sales in 2021 were cash.
Days on Market
35 days for single family homes
21 days for condos
Year End Price Report
Santa Barbara Median Sales Price +41.2% ~ $2,118,500. in Jan 2022 vs. $1,500,000. in Jan 2021
Santa Barbara Average Sales Price +73.4% ~ $2,683,000. in Jan 2022 vs. $1,547,220. in Jan 2021
Montecito Median Sales Price +77.3% ~ $7,066,000. in Jan 2022 vs. $3,985,000. in Jan 2021
Montecito Average Sales Price +39.3% ~ $7,849,813. in Jan 2022 vs. $5,632,600. in Jan 2021
Hope Ranch Median Sales Price +55.5% ~ $4,650,000. in Jan 2022 vs. $2,990,000. in Jan 2021
Hope Ranch Average Sales Price -17.6% ~ $4,786,000. in Jan 2022 vs. $5,811,688. in Jan 2021
Summerland Median Sales Price N/A ~ No sales in Jan 2022 vs. $2,442,750. in Jan 2021
Summerland Average Sales Price N/A ~ No sales in Jan 2022 vs. $2,483,875. in Jan 2021
Carpinteria Median Sales Price +43% ~ $1,500,000. in Jan 2022 vs. $1,049,000. in Jan 2021
Carpinteria Average Sales Price +41.7% ~ $1,606,000. in Jan 2022 vs. $1,132,667. in Jan 2021
Goleta Median Sales Price +15.5% ~ $1,285,000. in Jan 2022 vs. $1,112,500. in Jan 2021
Goleta Average Sales Price +23.7% ~ $1,538,716. in Jan 2022 vs. $1,383,173. in Jan 2021
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of February 11, 2022. This includes both off market and MLS data combined.