47% of Sales in September Were Cash
Single Family Homes Sold -22% ~ 69 in Sept 2023 vs. 88 in Sept 2022
Single Family Median Sales Price +34% ~ $2,350,000. in Sept 2023 vs. $1,753,000. in Sept 2022
Single Family Average Sales Price +36% ~ $3,880,318. in Sept 2023 vs. $2,856,852. in Sept 2022
Single Family – Year to Date
Homes Sold -28%
Median Sales -4%
Average Sales Price -4%
Condos Sold -6% ~ 29 in Sept 2023 vs. 31 in Sept 2022
Condo Median Sales Price +39% ~ $1,374,000. in Sept 2023 vs. $990,000. in Sept 2022
Condo Average Sales Price +19% ~ $1,399,011. in Sept 2023 vs. $1,175,161. in Sept 2022
Condo – Year to Date
Condos Sold -27%
Median Sales Price flat
Average Price +4%
Inventory
There was 2.49 months of supply in September. There was 2.19 months of inventory in August and 2.2 months in July. Inventory has been under 2 months for nearly 3 years.
Pending Sales
There were 107 pending sales in September. There was in August, 98 in July, 113 in June, 114 in May, 108 in April, 100 in March, 105 pending in February and 74 in January.
Price Reductions
There were 75 price reductions in September. There were 54 in August, 71 in July, 42 in June, 51 in May, 36 in April, 41 in March, 38 price reductions in February and 27 in January.
Sales Price % to Original List Price
September homes and condos sold at 97.7% of original list price.
Of the 98 sales of homes and condos sold in September, 82 or 83.6% were above $1,000,000.
Cash Sales
47% of all sales in September were cash.
Year to date, 41% of all sales were cash.
Days on Market
30 days for single family homes
24 days for condos
Year over Year Price Report for September
Santa Barbara Median Sales Price +32.7% ~ $2,100,000. in Sept 2023 vs. $1,582,500. in Sept 2022
Santa Barbara Average Sales Price +16.6% ~ $2,130,510. in Sept 2023 vs. $1,826,204. in Sept 2022
Montecito Median Sales Price +9% ~ $5,297,000. in Sept 2023 vs. $4,857,741. in Sept 2022
Montecito Average Sales Price +23.5% ~ $6,726,800. in Sept 2022 vs. $5,446,855. in Sept 2022
Hope Ranch Median Sales Price +104.1% ~ $6,712,500. in Sept 2023 vs. $3,287,500. in Sept 2022
Hope Ranch Average Sales Price +104.1% ~ $6,712,500. in Sept 2023 vs. $3,287,500. in Sept 2022
Summerland Median Sales Price +40.3% ~ $3,825,000. in Sept 2023 vs. $2,726,081. in Sept 2022
Summerland Average Sales Price +40.3% ~ $3,825,000. in Sept 2023 vs. $2,726,081. in Sept 2022
Carpinteria Median Sales Price +25.7% ~ $2,055,000. in Sept 2023 vs. $1,635,000. in Sept 2022
Carpinteria Average Sales Price +110.3% ~ $7,404,139. in Sept 2023 vs. $3,521,000. in Sept 2022
Goleta Median Sales Price +27.4% ~ $1,655,763. in Sept 2023 vs. $1,300,000. in Sept 2022
Goleta Average Sales Price -10.3% ~ $1,445,240. in Sept 2023 vs. $1,611,889. in Sept 2022
Call or text Wendy Gragg for more information 805.453.3371
Source: CORT INDATA as of Oct 13, 2023. This includes both off market and MLS data combined.
