Santa Barbara Real Estate Statistical Update ~ September 2021
Number of Homes & Condos Sold Plummet!
$4 Million & Below and Well Located High End Still See Multiple Offers Amid Low Inventory
Single Family Homes Sold -40% ~ 122 in Sept 2021 vs. 201 in Sept 2020
Single Family Median Sales Price +4% ~ $1,790,000. in Sept 2021 vs. $1,725,000. in Sept 2020
Single Family Average Sales Price -9% ~ $2,599.199. in Sept 2021 vs. $2,859,868. in Sept 2020
Single Family Year to Date ~ Homes Sold +21% ~ Median Sales Price +29% ~ Average Sales Price +39%
Condos Sold -31% ~ 49 in Sept 2021 vs. 71 in Sept 2021
Condo Median Sales Price +22% ~ $850,000. in Sept 2021 vs. $694,500. in Sept 2020
Condo Average Sales Price +15% ~ $1,053,951. in Sept 2021 vs. $914,654. in Sept 2020
Condo Year to Date ~ Condos Sold +31% ~ Median Sales Price +13% ~ Average Sales Price +18%
Inventory
Inventory has been in the 1 month of supply range for 11 straight months, starting in November 2020. 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 160 pending sales in September. There were 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 41 price reductions in September. There were 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
September homes and condos sold at 101% of original list price. There are still multiple offers on many homes below $4 million and on well located high end homes.
Of the 171 sales of homes and condos sold in September, 124 or 72.5% were above $1,000,000.
Cash Sales
29% of all sales in September were cash. Year to date, 34% of all sales were cash.
Days on Market
45 days for single family homes ~ 30 days for condos
Year over Year Price Report
Santa Barbara Median Sales Price +14% ~ $1,467,500. in Sept 2021 vs. $1,285,000. in Sept 2020
Santa Barbara Average Sales Price +10% ~ $1,651,016. in Sept 2021 vs. $1,503,745. in Sept 2020
Montecito Median Sales Price +11% ~ $4,125,000. in Sept 2021 vs. $3,725,000. in Sept 2020
Montecito Average Sales Price -3% ~ $5,199,020. in Sept 2021 vs. $5,377,268. in Sept 2020
Hope Ranch Median Sales Price -3% ~ $3,287,500. in Sept 2021 vs. $3,400,000. in Sept 2020
Hope Ranch Average Sales Price -16% ~ $3,287,500. in Sept 2021 vs. $3,900,667. in Sept 2020
Summerland Median Sales Price +10% ~ $2,726,081. in Sept 2021 vs. $2,475,000. in Sept 2020
Summerland Average Sales Price +26% ~ $2,726,081. in Sept 2021 vs. $2,172,000. in Sept 2020
Carpinteria Median Sales Price -24% ~ $830,000. in Sept 2021 vs. $1,092,000. in Sept 2020
Carpinteria Average Sales Price -35% ~ $1,876,676. in Sept 2021 vs. $2,880,767. in Sept 2020
Goleta Median Sales Price +14% ~ $1,015,000. in Sept 2021 vs. $890,500. in Sept 2020
Goleta Average Sales Price +29% ~ $1,308,171. in Sept 2021 vs. $1,015,577. in Sept 2020
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of October 14, 2021. This includes both off market and MLS data combined.
