November 2019 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 November 2019

    Thanksgiving is just around the corner, and Santa Barbara’s weather is beginning to cool. Similarly, the real estate market has continued to cool. Zia Group’s founder, Daniel Zia just returned from a mastermind with Gary Keller, the founder and CEO of Keller Williams. For 2 days, the top 200 teams (out of 180,000) discussed everything from the best marketing practices to market trends across the country. The conclusion? While Santa Barbara is not cooling as significantly as some other markets across the nation, it is not immune to the effects of the shifting market.

    Every real estate market is ripe for opportunity if you know where to find it. Many of our savvy investors and sellers have capitalized on this trend by bringing their properties on the market this year at aggressive prices to stimulate activity in a climate that lacks urgency. This lack of urgency can deceptively lull homebuyers and homesellers into a “we will do something next year” mindset. Sadly, this mindset can cause many people to miss the ample opportunities that exist in this current market.

    If you are looking to transition from your current home or investment in the coming years, call us immediately! The coming months may present one of the best environments to capitalize on your equity. Homeownership is a balance between affordability and quality of life. Call us to find out how you can secure the right home that meets both of those goals.

    Single Family Homes for November 2019

    Including year over year change

    136 New Listings

    4% Decrease

    92 Sold Listings

    7% Decrease

    599 Homes for sale

    1% Increase

    $1,159,241 Avg Sales Price

    7% Decrease

    4.66 Months of Inventory

    -

    61 Avg Days on market

    1% Increase

    Condos for November 2019

    Including year over year change

    35 New Listings

    36% Decrease

    39 Sold Listings

    -

    149 Condos for sale

    2% Increase

    $648,000 Avg Sales Price

    13% Increase

    4.66 Months of Inventory

    -

    25 Avg Days on market

    67% Decrease

    Definition of Terms

    Historical Santa Barbara Housing Reports

    Free Home Valuation