October 2019 Santa Barbara Real Estate Market

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

October 2019 Market Update

Santa Barbara isn’t immune to the effects of “seasonality”. While Fall doesn’t bring as cool weather as some other parts of the country, life seems to get busier and buying or selling a home can sometimes take the back seat. While there are fewer buyers that tend to shop for homes in the Fall as compared to the Summer, fewer homes also come on the market (which we saw this past month) so home selling economics stay consistent. So, unlike other parts of the country, there is no bad time to buy or sell in Santa Barbara. As an example of this, we are seeing the same median price point from August to today, showing you can still sell a home for the same price as you did in the summer.

For sellers, Zia Group’s proven marketing strategies gave our sellers a distinct advantage last month. In September 2019, the average days on the market for the MLS was 58 days while it took Zia Group only 8 days on average to get our listings into escrow!

For buyers, there is much less competition for your perfect home. This moment in the market can be a perfect time to scoop up your dream home while other buyers are busy with school or preparing for the holidays. As a testament to this, Zia Group’s founder, Daniel Zia, bought (and sold) his primary residence in the Fall.

Every moment in the market offers opportunities. Call our team of experts today to have a complimentary strategy consultation about what is best for you and your family.

Home Values Are Up

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South Santa Barbara County Single Family Homes for October 2019

Including year over year change | See definition of terms

114 New Listings

17% Decreased

101 Sold Listings

22% Increased

604 Homes for sale

0% Change

$1,160,000 Avg Sales Price

2% Increased

58 Avg Days on market

49% Increased

5.05 Months of Inventory

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South Santa Barbara County Condos for October 2019

Including year over year change | See definition of terms

45 New Listings

22% Increased

33 Sold Listings

15% Decreased

156 Condos for sale

12% Decreased

$649,500 Avg Sales Price

2% Increased

48 Avg Days on market

19% Decreased

5.05 Months of Inventory

-

Definition of Terms

Historical Santa Barbara Housing Reports