December 2021 Santa Barbara Real Estate Market

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December 2021 Market Update

This time last year, we were astounded as we watched the market continue to pick up pace right through the holiday season. And this year? As we stated last month, the market has slowed down, quite remarkably. Last year, in November 2020, 137 single-family homes were sold. This November, only 94 were sold–a 31% decrease in sales activity.

Most notably, only 92 single-family homes were newly listed for sale this November. All of this means that our current months of inventory remains below one month–at 0.94 months. In other words, inventory is at a record low. With prices remaining high, however, it is obvious that buyer demand is still strong. The median sales price for November 2021 (single-family homes) is $1,942,750–right on par with past months, and even slightly higher than the year-to-date median price: $1,900,000.

Indeed, with the possibility for interest rates to rise, buyers are eager to find homes now rather than in a few months when, even if prices remain steady, they will pay more. This consistent demand from buyers to find homes now keeps prices strong.

If you’re at all curious about your home’s current market value, reach out to your trusted Zia Group advisor, or go here to receive your free Santa Barbara home value analysis today.

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South Santa Barbara County Single Family Homes for December 2021

Including annual change | See definition of terms

92 new listings

25% Decrease

94 sold listings

31% Decrease

207 homes for sale

43% Decrease

$2,909,589 median sales price

13% Increase

25 avg days on market

38% Decrease

.94 months of inventory

53% Decrease

South Santa Barbara County Condos for December 2021

Including annual change | See definition of terms

34 new listings

3% Decrease

44 sold listings

13% Increase

62 condos for sale

39% Decrease

$1,150,071 median sales price

19% Increase

20 avg days on market

43% Decrease

.94 months of inventory

53% Decrease

Montecito & Hope Ranch for December 2021

Including annual change | See definition of terms

23 new listings

28% Decrease

23 sold listings

45% Decrease

77 homes for sale

54% Decrease

$6,055,173 median sales price

21% Increase

41 avg days on market

23% Decrease

1.78 months of inventory

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Single Family Home Sales Year-to-date

Including annual change | See definition of terms

$3,057,146 mean sales price

34% Increase

$1,900,000 median sales price

23% Increase

$4,139,375,782 sold volume

51% Increase

Condo Sales Year-to-date

Including annual change | See definition of terms

$1,044,611 mean sales price

11% Increase

$830,000 median sales price

14% Increase

$536,930,538 sold volume

38% Increase

Definition of Terms