Santa Barbara Real Estate Market

Housing Market Data For September 2020

A guide to the Santa Barbara real estate market for the month of September 2020

Welcome to our Santa Barbara real estate market update contrasting August 2020 with August 2019. As we have discussed before, the real estate market continues to soar despite the elections and pandemic. At the time of this writing, we are only 41 days away from the Presidential election, and the market shows no sign of slowing. In fact, we are amidst of one of the greatest seller’s markets in recent history.

As an example, last month gained a 41% increase in single-family homes sold as compared with 2019. Even more astounding, condo sales exceeded last year by a 110% margin! These extraordinary sales figures are in contrast to a 26% decrease in inventory for single-family homes and a 10% decrease in condo supply. As you can see, this is only accentuating our shortage of inventory in Santa Barbara and Montecito.

One thing 2020 has taught us is that the future is uncertain. However, one thing is for sure… this is a spectacular time to be a seller. The overwhelming majority of Zia Group listings are attracting back-to-back showing requests and multiple offers. Even if you are not yet ready to sell, please reach out to your preferred Zia Group Realtor Partner to learn about this unique opportunity for homeowners.

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

Single Family Homes for September 2020

Including year over year change

173

New Listings

4% Increase
151

Sold Listings

41% Increase
482

Homes for sale

26% Decrease
$1,195,000

Median Sales Price

3% Increase
3.62

Months of Inventory

32% Decrease
44

Avg Days on market

25% Decrease

Condos for September 2020

Including year over year change

43

New Listings

20% Decrease
61

Sold Listings

110% Increase
153

Condos for sale

10% Decrease
$665,500

Median Sales Price

3% Increase
3.62

Months of Inventory

32% Decrease
42

Avg Days on market

35% 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.

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