Santa Barbara Real Estate Statistical Update ~ April 2021
Unprecedented Demand ~ Extremely Low Supply
Please Note Covid Negatively Impacted the Market in April 2020
Single Family Homes Sold +123% ~ 154 in Apr 2021 vs. 69 in Apr 2020
Single Family Median Sales Price +71% ~ $2,050,000. in Apr 2021 vs. $1,200,000. in Apr 2020
Single Family Average Sales Price +87% ~ $3,123,562. in Apr 2021 vs. $1,666,464. in Apr 2020
Single Family Year to Date ~ Homes Sold +54% ~ Median Sales Price +51% ~ Average Sales Price +89%
Condos Sold +160% ~ 65 in Apr 2021 vs. 25 in Apr 2021
Condo Median Sales Price +7% ~ $850,000. in Apr 2021 vs. $791,000. in Apr 2020
Condo Average Sales Price +21% ~ $1,115,585. in Apr 2021 vs. $920,000. in Apr 2020
Condo Year to Date ~ Condos Sold +66% ~ Median Sales Price +10% ~ Average Sales Price +22%
Inventory
April delivered 1.05 months of supply. April marks the 3rd consecutive month of shockingly low inventory. March had 1.8 months of supply, February had 1.4 months and January had 1.44 months of supply. Lack of supply is driving multiple offers.
Pending Sales
There were 202 pending sales in April. There were 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 39 price reductions in April. There were 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
April homes and condos sold at 101% of original list price due to several multiple offers resulting in selling prices above asking.
Of the 219 sales of homes and condos sold in March, 169 or 77.2% were above $1,000,000.
Days on Market
66 days for single family homes ~ 54 days for condos
Year over Year Price Report
Santa Barbara Median Sales Price +30% ~ $1,560,000. in Apr 2021 vs. $1,200,000. in Apr 2020
Santa Barbara Average Sales Price +51% ~ $1,788,925. in Apr 2021 vs. $1,187,200. in Apr 2020
Montecito Median Sales Price +107% ~ $4,245,000. in Apr 2021 vs. $2,050,000. in Apr 2020
Montecito Average Sales Price +108% ~ $5,832,318. in Apr 2021 vs. $2,809,400. in Apr 2020
Hope Ranch Median Sales Price +61% ~ $5,300,000. in Apr 2021 vs. $3,300,000. in Apr 2020
Hope Ranch Average Sales Price +84% ~ $5,490,000. in Apr 2021 vs. $2,989,667. in Apr 2020
Summerland Median Sales Price n/a ~ $1,724,000. in Apr 2021 vs. no sales in Apr 2020
Summerland Average Sales Price n/a ~ $1,724,000. in Apr 2021 vs. no sales in Apr 2020
Carpinteria Median Sales Price +8% ~ $832,500. in Apr 2021 vs. $769,000. in Apr 2020
Carpinteria Average Sales Price +39% ~ $1,145,214. in Apr 2021 vs. $821,333. in Apr 2020
Goleta Median Sales Price +33% ~ $1,100,000. in Apr 2021 vs. $830,000. in Apr 2020
Goleta Average Sales Price +27% ~ $1,405,918. in Apr 2021 vs. $1,106,714. in Apr 2020
Call or text Wendy Gragg at 805.453.3371 for more information.
CLICK TO VIEW MY EXCLUSIVE LISTINGS
Source: CORT INDATA as of May 18, 2021. This includes both off market and MLS data combined.
