Santa Barbara Real Estate Statistical Update ~ September 2022
There Has Been Less than 2 Months of Supply for Nearly 2 Years
Single Family Homes Sold -27% ~ 89 in Sept 2022 vs. 122 in Sept 2021
Single Family Median Sales Price -2% ~ $1,756,000. in Sept 2022 vs. $1,790,000. in Sept 2021
Single Family Average Sales Price +24% ~ $3,229,247. in Sept 2022 vs. $2,599,199. in Sept 2021
Single Family Year to Date ~ Homes Sold -33% ~ Median Sales Price +16% ~ Average Sales Price +12%
Condos Sold -37% ~ 31 in Sept 2022 vs. 49 in Sept 2021
Condo Median Sales Price +16% ~ $990,000. in Sept 2022 vs. $850,000. in Sept 2021
Condo Average Sales Price +12% ~ $1,175,161. in Sept 2022 vs. $1,053,951. in Sept 2021
Condo Year to Date ~ Condos Sold -32% ~ Median Sales Price +14% ~ Average Sales Price +16%
Inventory
There was 1.43 months of supply in September. There has been less than 2 months of supply for 23 consecutive months.
Pending Sales
There were 117 pending sales in September. There were 146 in Aug, 121 in July, 117 in June and 150 in May.
Price Reductions
There were 69 price reductions in September. There were 79 in August, 70 in July, 57 in June and 50 in May.
Sales Price % to Original List Price
September homes and condos sold at 97.75% of original list price.
Of the 120 sales of homes and condos sold in September, 99 or 82.5% were above $1,000,000.
Cash Sales
34% of all sales in September were cash.
Year to date, 34% of all sales were cash.
Days on Market
26 days for single family homes
17 days for condos
Year over Year Price Report for September
Santa Barbara Median Sales Price +13.7% ~ $1,800,000. in Sept 2022 vs. $1,582,500. in Sept 2021
Santa Barbara Average Sales Price +12.9% ~ $2,063,222. in Sept 2022 vs. $1,826,204. in Sept 2021
Montecito Median Sales Price +51.3% ~ $7,350,000. in Sept 2022 vs. $4,857,741. in Sept 2021
Montecito Average Sales Price +75.7% ~ $9,570,867. in Sept 2022 vs. $5,446,855 in Sept 2021
Hope Ranch Median Sales Price +7.98% ~ $3,550,000. in Sept 2022 vs. $3,287,500. in Sept 2021
Hope Ranch Average Sales Price +20.1% ~ $3,950,000. in Sept 2022 vs. $3,287,500. in Sept 2021
Summerland Median Sales Price -39.4% ~ $1,650,000 in Sept 2022 vs. $2,726,081. in Sept 2021
Summerland Average Sales Price -39.4% ~ $1,650,000 in Sept 2022 vs. $2,726,081. in Sept 2021
Carpinteria Median Sales Price +2.75% ~ $1,680,000. in Sept 2022 vs. $1,635,000. in Sept 2021
Carpinteria Average Sales Price -51.7% ~ $1,697,667. in Sept 2022 vs. $3,521,000. in Sept 2021
Goleta Median Sales Price +17.7% ~ $1,531,000. in Sept 2022 vs. $1,300,000. in Sept 2021
Goleta Average Sales Price -4.7% ~ $1,534,824. in Aug 2022 vs. $1,611,889. in Sept 2021
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of Oct 12, 2022. This includes both off market and MLS data combined.