August 2020 Santa Barbara Real Estate Market

A guide to the Santa Barbara real estate market for August 2020

In This Report

    Summer is in full swing here in Santa Barbara. The weather is warm, and the real estate market is hot! We have even heard various real estate teams across the country describe this as one of the best real estate markets of all time. While that is an extraordinary claim, we can confirm that Santa Barbara is enjoying a very strong seller’s market. At Zia Group, our sellers have been very pleased with the sales results we have delivered during this last month.

    Last month, we discussed the migration into Santa Barbara from San Francisco. This trend shows no signs of slowing. We are now seeing a large influx of Los Angeles residents migrating north. In fact, this month over 40% of our showing requests have come from Los Angeles residents looking to buy in Santa Barbara.

    This month, Santa Barbara has gained 222 new listings. 162 of these listings were single family homes, representing a 5% increase over this month last year. More dramatically, we saw a 16% boost in sold listings during this same timeframe! Thus, it’s no surprise that our median sales price has risen by 1% over the last 12 months.

    Despite these strong market conditions, we are still suffering from a shortage of inventory. If we haven’t made it crystal clear, this is a very good time to sell a house. If you are having thoughts of selling and are interested in capturing top dollar for your home, I strongly recommend that you reach out to a Zia Group agent right away.

    Single Family Santa Barbara Homes for August 2020

    Including year over year change

    162 New Listings

    5% Increase

    121 Sold Listings

    16% Increase

    494 Homes for sale

    23% Decrease

    $1,168,500 Avg Sales Price

    1% Increase

    4.03 Months of Inventory

    23% Decrease

    59 Avg Days on market

    34% Increase

    Santa Barbara Condos for August 2020

    Including year over year change

    60 New Listings

    7% Increase

    43 Sold Listings

    4% Decrease

    178 Condos for sale

    10% Increase

    $660,000 Median Sales Price

    2% Decrease

    4.03 Months of Inventory

    2% Decrease

    40 Avg Days on market

    23% Decrease

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

    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.

    • We'll listen to your unique goals for your home
    • We'll answer your questions and provide resources
    • We'll provide a clear roadmap for success