September 2021 Market Update
In August 2020, we saw months of inventory drop below 4 months for the first time in a very long time–an indicator that our seller’s market was gaining momentum. As of August 2021, that number has stayed below 1.61 for a total of 8 consecutive months! Meanwhile, home values have continued to appreciate. Year-to-date, the median sales price for a single-family home in Santa Barbara is up 31% from only a year ago.
And sales prices will likely remain high so long as inventory remains so low. Inventory in August 2021 was just about half of what it had been in August 2020. And the number of sales in August 2021 struggled to keep pace with the sales of August 2020: In single-family home sales, condo sales, and the luxury market, the same or slightly fewer homes sold this year in the month of August compared to last year. What does this mean? Half as many homes are for sale, and buyers are buying nearly every last one of them.
If you are at all curious to know what all these numbers mean for you and your real estate goals, let us know! We’d love to talk with you, whether you are interested in purchasing a home now or in the future, about how you can plan ahead and make strategic decisions to prepare for your home purchase. Or, if you’re a homeowner curious about your home’s current value, or truly considering selling your home, give us a call! We’re here to be your guides, offering the most updated information and proprietary strategies to help you achieve your goals.
South Santa Barbara County Single Family Homes for September 2021
Including annual change | See definition of terms
145 new listings
151 sold listings
277 homes for sale
$3,023,271 avg sales price
17 avg days on market
1.17 months of inventory
South Santa Barbara County Condos for September 2021
Including annual change | See definition of terms
57 new listings
58 sold listings
79 condos for sale
$951,511 avg sales price
13 avg days on market
1.17 months of inventory
Montecito & Hope Ranch for September 2021
Including annual change | See definition of terms
43 new listings
40 sold listings
94 homes for sale
$6,403,539 avg sales price
23 avg days on market
1.79 months of inventory
Single Family Home Sales Year-to-date
Including annual change | See definition of terms
$3,135,692 avg sales price
$1,900,000 median sales price
$3,182,727,776 sold volume
Condo Sales Year-to-date
Including annual change | See definition of terms