February 2020 Santa Barbara Real Estate Market

February 2020 Market Update

The Santa Barbara real estate market continued to soar in February 2020 with healthy demand from local home buyers. The relative shortage of homes for sale is further highlighting this demand. The greatest variable in February is the growing threat of the Coronavirus in America, and Santa Barbara is not immune to the pandemic. As we examine past pandemics, we find minimal volatility in home prices as compared to the stock market. Thus, we are preparing for a possible decrease in transaction volume during the coming months, but we remain optimistic about the durability of Santa Barbara home values. As always, we recommend connecting with a Zia Group agent to learn how these trends may impact your specific real estate goals today.

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South Santa Barbara County Single Family Homes for February 2020

Including annual change | See definition of terms

121 new listings

8% Decrease

78 sold listings

10% Increase

428 homes for sale

12% Decrease

$1,135,000 median sales price

6% Decrease

91 avg days on market

44% Increase

3.58 months of inventory

15% Decrease

South Santa Barbara County Condos for February 2020

Including annual change | See definition of terms

42 new listings

5% Decrease

31 sold listings

7% Increase

109 condos for sale

31% Decrease

$650,000 median sales price

9% Decrease

60 avg days on market

21% Decrease

3.58 months of inventory

15% Decrease

Definition of Terms