Santa Barbara Real Estate Statistical Update ~ December & Year End 2021
BEST.YEAR.EVER!!!
2021 Far Surpasses the 2020 Record
Yearly Revenue +29%
$5,353,551,979. in 2021
vs.
$4,142,544,870. in 2020
Estates Priced $10 Million and Above +58%
$924,382,712. in 2021
vs.
$583,444,267. in 2020
Single Family Homes Sold -36% ~ 91 in Dec 2021 vs. 143 in Dec 2020
Single Family Median Sales Price +12% ~ $1,750,000. in Dec 2021 vs. $1,563,000. in Dec 2020
Single Family Average Sales Price +6% ~ $2,760,223. in Dec 2021 vs. $2,603,343. in Dec 2020
Single Family Year to Date ~ Homes Sold +3% ~ Median Sales Price +24% ~ Average Sales Price +26%
Condos Sold -47% ~ 47 in Dec 2021 vs. 88 in Dec 2021
Condo Median Sales Price +7% ~ $845,000. in Dec 2021 vs. $788,500. in Dec 2020
Condo Average Sales Price +3% ~ $942,702. in Dec 2021 vs. $916,432. in Dec 2020
Condo Year to Date ~ Condos Sold +8% ~ Median Sales Price +11% ~ Average Sales Price +16%
Inventory
There was only 0.5 months of supply in December 2021. December 2020 had 1.61 months of supply. That was considered low at the time. All of 2021 ranged in the 1 month of supply range.
Pending Sales
There were 98 pending sales in December. This is the lowest number of pending sales in 2021. The high was 193 in March 2021.
Price Reductions
There were 21 price reductions in December. This is the lowest number of price reductions in 2021. The high was 51 in June 2021.
Sales Price % to Original List Price
December homes and condos sold at 101% of original list price. Multiple offers are mostly at the lower range of the market.
Of the 138 sales of homes and condos sold in December, 98 or 71% were above $1,000,000.
Cash Sales
28% of all sales in December were cash. For the year, 33% of all sales were cash.
Days on Market
38 days for single family homes ~ 22 days for condos
Year End Price Report
Santa Barbara Median Sales Price +22% ~ $1,696,000. in 2021 vs. $1,395,000. in 2020
Santa Barbara Average Sales Price +24% ~ $1,989,064. in 2021 vs. $1,607,601. in 2020
Montecito Median Sales Price +27% ~ $4,589,000. in 2021 vs. $3,603,750. in 2020
Montecito Average Sales Price +25% ~ $6,265,675. in 2021 vs. $5,009,599. in 2020
Hope Ranch Median Sales Price +40% ~ $4,750,000. in 2021 vs. $3,400,000. in 2020
Hope Ranch Average Sales Price +39% ~ $5,846,738. in 2021 vs. $4,200,263. in 2020
Summerland Median Sales Price +39% ~ $2,999,000. in 2021 vs. $2,152,000. in 2020
Summerland Average Sales Price -38% ~ $1,686,804. in 2021 vs. $2,734,218. in 2020
Carpinteria Median Sales Price +30% ~ $1,400,000. in 2021 vs. $1,080,000. in 2020
Carpinteria Average Sales Price +33% ~ $2,462,573. in 2021 vs. $1,846,759. in 2020
Goleta Median Sales Price +24% ~ $1,300,000. in 2021 vs. $1,050,000. in 2020
Goleta Average Sales Price +28% ~ $1,572,534. in 2021 vs. $1,224,294. in 2020
2020 Forecast
Inventory will Increase as Interest Rates Go Up and the Stock Market Takes a Hit
Buyer Demand will Remain Robust But Price Sensitivity Will Become More Prevalent
Pricing Will Moderate
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of January 11, 2022. This includes both off market and MLS data combined.
