July 2019 Santa Barbara Real Estate Market

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

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.

Local Home Values Are Up 25%

See Your Home Value

South Santa Barbara County Single Family Homes for July 2019

Including year over year change | See definition of terms

148 New Listings

1% Decrease

118 Sold Listings

1% Increase

609 Homes for sale

6% Increase

$1,158,482 Avg Sales Price

1% Decrease

74 Avg Days on market

80% Increase

5.13 Months of Inventory

-

South Santa Barbara County Condos for July 2019

Including year over year change | See definition of terms

40 New Listings

33% Decrease

39 Sold Listings

11% Decrease

156 Condos for sale

19% Decrease

$643,321 Avg Sales Price

1% Increase

32 Avg Days on market

18% Decrease

5.13 Months of Inventory

-

Definition of Terms