Santa Barbara Real Estate Market

Housing Market Data For August 2019

A guide to the Santa Barbara real estate market for the month of August 2019

With our Santa Barbara home values so strong, even a small change in rates can have a massive effect on affordability. Recently, homebuyers were thrilled to see interest rates dip to such exciting levels as this has a direct correlation, in many cases, to buyers being able to purchase a larger home.

Local Sellers felt this uptick in buyer optimism and increased affordability with a number of homes that were priced right selling quickly and even with multiple offers. Overall, the number of sold properties increased by 24% compared to August of last year.

And for our clients who have already purchased their home and have no intent to sell soon, this is a great opportunity to refinance and lock in a new, much lower interest rate for the next 30 years. That can be a massive cost savings, at with some refinance scenarios, can be accomplished at no financial cost to the borrower.

Want to take advantage of these incredible rates? Now is a great time to talk with our team of residential home advisors and explore whether it makes the most sense to sell and ride this potentially short term wave of activity. Or, reach out, and we will connect you with a great local lender to help you capture the best rate possible for your refinance.

All data supplied from CORT, Santa Barbara Association of Realtors, and Multiple Listing Service

Single Family Homes for August 2019

Including year over year change

154

New Listings

9% Decrease
104

Sold Listings

24% Increase
641

Homes for sale

4% Increase
$1,160,000

Median Sales Price

No Change
5.3

Months of Inventory

-
44

Avg Days on market

5% Increase

Condos for August 2019

Including year over year change

56

New Listings

5% Decrease
45

Sold Listings

2% Increase
162

Condos for sale

19% Decrease
$673,500

Median Sales Price

6% Increase
5.3

Months of Inventory

-
41

Avg Days on market

5% Increase

Past Reports

Historical Data for Santa Barbara Housing Market

Did you know?

3 of 5 homes are underinsured by an average of 20 percent

These homeowners don't have enough coverage to protect them if their home is impacted by a fire or another disaster. Worse still, they won’t know it until it’s too late! Call Weiser Agency today to discover if you are underinsured.

Schedule a Consultation

Thinking of buying or selling a home in Santa Barbara? The first step is to meet with a Zia Group agent for your complimentary consultation where we will answer any questions you have.

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  • We'll provide a clear roadmap for success