January 2021 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 January 2021

    As has been the trend recently, we continue to see very strong sales numbers in the Santa Barbara real estate market. Although December 2019 had a red hot real estate market, last month is indeed outperforming last year. One of the contributing factors to our recent seller’s market has been a shortage of inventory (homes for sale). This appears to be opening up ever so slightly. During December, we saw 100 new listings come to the market, which is a dramatic 72% increase over this time last year. However, to bring this into perspective, our total single-family homes inventory is still only 306, which is 29% less than last December’s numbers. So long as we face inventory shortages at this scale, home prices have nowhere to go but up. Our current median sales price for December is $1,275,000, which beats last December by 11%. So, if you are still on the fence about selling your house, it appears the window of opportunity is still open. However, it is very unclear how long this “greatest seller’s market of all time” will last.

    Single Family Homes for January 2021

    Including year over year change

    100 New Listings

    72% Increase

    131 Sold Listings

    7% Increase

    306 Homes for sale

    29% Decrease

    $1,275,000 Avg Sales Price

    11% Increase

    1.61 Months of Inventory

    50% Decrease

    44 Avg Days on market

    34% Decrease

    Condos for January 2021

    Including year over year change

    20 New Listings

    20% Decrease

    60 Sold Listings

    62% Increase

    64 Condos for sale

    43% Decrease

    $695,000 Avg Sales Price

    6% Increase

    1.61 Months of Inventory

    50% Decrease

    35 Avg Days on market

    26% Decrease

    Definition of Terms

    Historical Santa Barbara Housing Reports

    Free Home Valuation