Santa Barbara Real Estate Statistical Update ~ January 2021
2021 Is Off to a Very Strong Start
Single Family Homes Sold +21% ~ 116 in Jan 2021 vs. 96 in Jan 2020
Single Family Median Sales Price +30% ~ $1,699,500. in Jan 2021 vs. $1,302,500. in Jan 2020
Single Family Average Sales Price +60% ~ $2,706,599. in Jan 2021 vs. $1,687,451. in Jan 2020
Single Family Year to Date ~ Homes Sold +21% ~ Median Sales Price +30% ~ Average Sales Price +60%
Condos Sold +27% ~ 42 in Jan 2021 vs. 33 in Jan 2021
Condo Median Sales Price -1% ~ $733,000. in Jan 2021 vs. $740,000. in Jan 2020
Condo Average Sales Price +16% ~ $885,464. in Jan 2021 vs. $829,121. in Jan 2020
Condo Year to Date ~ Condos Sold +27% ~ Median Sales Price -1% ~ Average Sales Price +16%
Inventory
January had only 1.44 months of inventory. That is shockingly low! Demand is the strongest it has been in 20 years.
Pending Sales
There were 158 pending sales in January. It would be significantly higher if there was more inventory.
Price Reductions
There were only 29 price reductions 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
January homes and condos sold at 98.25% of original list price.
Of the 158 sales of homes and condos in January, 110 or 69.6% were above $1,000,000.
Days on Market
73 days for single family homes ~ 63 days for condos
Year over Year Price Report
Santa Barbara Median Sales Price +26% ~ $1,400,000. in Jan 2021 vs. $1,107,500. in Jan 2020
Santa Barbara Average Sales Price +20% ~ $1,429,851. in Jan 2021 vs. $1,188,466. in Jan 2020
Montecito Median Sales Price +63% ~ $3,855,000. in Jan 2021 vs. $2,370,000. in Jan 2020
Montecito Average Sales Price +82% ~ $5,307,000. in Jan 2021 vs. $2,921,125. in Jan 2020
Hope Ranch Median Sales Price -28% ~ $2,990,000. in Jan 2021 vs. $4,167,163. in Jan 2020
Hope Ranch Average Sales Price +39% ~ $5,811,688. in Jan 2021 vs. $4,167,163. in Jan 2020
Summerland Median Sales Price +63% ~ $2,067,750. in Jan 2021 vs. $1,272,000 in Jan 2020
Summerland Average Sales Price +50% ~ $1,919,250. in Jan 2021 vs. $1,283,667. in Jan 2020
Carpinteria Median Sales Price 0% ~ $790,000. in Jan 2021 vs. $792,000. in Jan 2020
Carpinteria Average Sales Price -32% ~ $829,778. in Jan 2021 vs. $1,217,250. in Jan 2020
Goleta Median Sales Price +14% ~ $985,500. in Jan 2021 vs. $865,000. in Jan 2020
Goleta Average Sales Price +12% ~ $1,136,317. in Jan 2021 vs. $1,018,952. in Jan 2020
2021 Forecast ~ Low inventory will continue into 2021. Demand will remain strong with Buyers leaving Los Angeles, San Francisco and other metropolitan markets. Low supply and high demand will continue to create multiple offers on well priced & well located homes.
Call or text Wendy Gragg at 805.453.3371 for more information.
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Source: CORT INDATA as of February 13, 2021. This includes both off market and MLS data combined.
