February 2020 Santa Barbara Real Estate Market

Data supplied from CORT, Santa Barbara Association of Realtors, and Multiple Listings Service

Contents

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

    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.

    Single Family Homes for February 2020

    Including year over year change

    121 New Listings

    8% Decrease

    78 Sold Listings

    10% Increase

    428 Homes for sale

    12% Decrease

    $1,135,000 Avg Sales Price

    10% Increase

    3.58 Months of Inventory

    15% Decrease

    91 Avg Days on market

    12% Decrease

    Condos for February 2020

    Including year over year change

    42 New Listings

    5% Decrease

    31 Sold Listings

    15% Decrease

    109 Condos for sale

    6% Decrease

    $650,000 Avg Sales Price

    44% Increase

    3.58 Months of Inventory

    15% Decrease

    60 Avg Days on market

    21% Decrease

    Definition of Terms

    Historical Santa Barbara Housing Reports

    Free Home Valuation