Santa Barbara Real Estate Market Update For Dec 2020

Dec 2020 Market Update

The Santa Barbara real estate market has continued to boom into December 2020. As we contrast real estate data in November of 2020 against November of 2019, it remains clear that this is a fantastic time for Santa Barbara homeowners thinking about selling.

Examining single family homes and condos together, we saw 137 sales in Santa Barbara last month. For reference, only 81 homes sold in November of 2019. Similarly, 133 homes were marked “pending” last month, which towered over the 94 homes marked pending last November.

As a homeowner, you are likely interested in the value of your home. You’ll be pleased to learn that last month the Average Sold Price (not Median Sold Price) for homes in Santa Barbara was $2,581,810. This time last year, the Average Sold Price in Santa Barbara was $1,634,969. It is astounding to see that our Average Sold Price has risen by almost a million dollars in just one year! This trend has been fueled by our exploding luxury real estate market, largely driven by out-of-town buyers relocating to Santa Barbara.

To show just how active our luxury real estate market is right now: last month 8 listings sold for over 5 million dollars, 9 listings sold in the 4 millions, and 11 homes sold in the 3 millions. Those are remarkable sales numbers for any season of the year, let alone November.

If you are thinking of selling your Santa Barbara or Montecito home, this is a phenomenal time to move. This is especially true if your home value is in a high value range. Whether you are thinking of selling or are just wondering how this market has influenced the value of your home, head over to receive your free Santa Barbara home value analysis today.