Santa Barbara Real Estate Statistical Update – July 31, 2014

Santa Barbara and Montecito Real Estate Statistics through July 31, 2014.

Viva la Fiesta! Santa Barbara is Celebrating its 90th Annual Old Spanish Days Fiesta. While the community at large is celebrating Fiesta, the Real Estate Market is busy! The Santa Barbara Real Estate Statistical Update through July 31, 2014 show the Number of Sold Listings down -19.0%, the Dollar Volume of Sold Listings are up +1.9% and the Median Sales Price is up +11.8% year over year. The Median Sales Price in Santa Barbara currently stands at $855,000. Last year the Median Sales Price was $765,000. The Number of New Listings is down -6.4% while the Dollar Volume of New Listings is up +2.0%. The Median List Price currently stands at $959,000., up +8.4% from last year’s Median List Price of $885,000.

Santa Barbara Luxury Real Estate – Pick Up in Sales Activity

The Santa Barbara luxury real estate market has seen an uptick in sales activity recently. An oceanfront home on famed Padaro Lane has just closed escrow at $12 million. It was listed at $14.5 million less than 6 months ago. Another Santa Barbara sale was not as fortunate with time on the market. This Montecito Estate on 10 acres was listed in 2012 for $12.9 million. It just closed escrow at $9.725 million.