Santa Barbara Real Estate Market

Housing Market Data For May 2019

A guide to the Santa Barbara real estate market for the month of May 2019

Many joke Santa Barbara lives in its own bubble, and there really is no other place like it. As the national news talks about a balancing or shifting real estate market, it is hard to imagine that as we go about our daily lives here in paradise. Shielded by the mountains, ocean and islands, it is easy to believe we remain unaffected by “trade wars” or economic mishaps in other parts of the nation. The reality is that while the median home price is “up” this month, the reality of our adjusting market is that we are currently seeing as many homes sell for lower prices as higher prices as compared to a year ago.

What goes up will eventually have to come down and we’re continuing to see the early indicators of a balancing market. Average days on market has increased drastically with homes now taking 32% longer to sell! For the first time this year, our months of inventory has pushed over 5 months, which while still a “healthy” paced market nationally, is slower than what we have seen the past years.

The great news is that Zia Group’s marketing strategies continue to prove effect selling homes 37 days faster than the market average. Want to learn how we are helping our clients beat the balancing market and still secure a top dollar price? Schedule a strategic marketing session with our agents today!

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

Single Family Homes for May 2019

Including year over year change

183

New Listings

4% Increase
94

Sold Listings

2% Decrease
569

Homes for sale

16% Increase
$1,537,428

Median Sales Price

12% Increase
5.12

Months of Inventory

-
62

Avg Days on market

32% Increase

Condos for May 2019

Including year over year change

62

New Listings

7% Increase
36

Sold Listings

3% Increase
182

Condos for sale

17% Increase
$652,450

Median Sales Price

3% Increase
5.12

Months of Inventory

-
49

Avg Days on market

4% Increase

Past Reports

Historical Data for Santa Barbara Housing Market

Did you know?

3 of 5 homes are underinsured by an average of 20 percent

These homeowners don't have enough coverage to protect them if their home is impacted by a fire or another disaster. Worse still, they won’t know it until it’s too late! Call Weiser Agency today to discover if you are underinsured.

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