Santa Barbara Real Estate Market

Housing Market Data For August 2020

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

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.

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

Single Family 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

Median Sales Price

1% Increase
4.03

Months of Inventory

23% Decrease
59

Avg Days on market

34% Increase

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

23% Decrease
40

Avg Days on market

2% Decrease

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.

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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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