Santa Barbara Real Estate Market

Housing Market Data For July 2019

A Guide to Santa Barbara Real Estate Market Trends

Because more homes sell in the summer than any other time of year, the market can artificially feel like it’s “booming”. We are putting properties in escrow every week, and negotiate great deals for our clients. That said, it’s important to look deeper than the feeling of “activity” and gauge the true health and direction of the market.

When you look at the numbers, they tell a different story. They confirm Santa Barbara’s market has officially steadied. In fact, compared to June 2018, it would be hard to tell the difference between the markets from a numbers perspective. Inventory levels have risen slightly, but the number of sales hasn’t kept pace. The median home price remains virtually unchanged. That said, the big difference is that the average agent takes 80% more time to sell their listing in today’s market. Now, that’s not true for Zia Group. We are still selling our listings in about 40% of the time of the average agent. In fact, just last week, one of our Montecito listings had 5 offers and went into escrow the first week for well over the asking price!

So where does this leave you? Every market, even a flat market, has unique opportunities to pursue. For buyers--the shifting market is giving you more leverage in negotiation and our clients have been thrilled with the amazing deals we have been able to negotiate for their dream homes. And for sellers--our shifting market requires a creation of urgency. Give us a call today to learn why we are so successful at creating this urgency and generating multiple offers for our listings.

Single Family Homes for July 2019

Including year over year change

148

New Listings

1% Decrease
118

Sold Listings

1% Increase
609

Homes for sale

6% Increase
$1,158,482

Median Sales Price

1% Decrease
5.13

Months of Inventory

-
74

Avg Days on market

80% Increase

Condos for July 2019

Including year over year change

40

New Listings

33% Decrease
39

Sold Listings

11% Decrease
156

Condos for sale

19% Decrease
$643,321

Median Sales Price

1% Increase
5.13

Months of Inventory

-
32

Avg Days on market

18% Decrease

Past Reports

Historical Data for Santa Barbara Housing Market

All data supplied from CORT, Santa Barbara Association of Realtors, and Multiple Listing Service

Schedule a Consultation

Thinking of buying or selling a home in Santa Barbara? The first step is to meet with a Zia Group agent for your complimentary consultation where we will answer any questions you have.

  • We'll listen to your unique goals for your home
  • We'll answer your questions and provide resources
  • We'll provide a clear roadmap for success