7 MONTH COMPARISON FOR SANTA BARBARA’S REAL ESTATE MARKET
So hard to believe that we are in August. Summer vacation will soon be over and the kids will be back in school. We are starting to see a change in the market and have noticed that there are less sales, due most likely because of the rise in prices. It will be interesting to see how the months ahead will be reflected in both the number of sold properties and both its average and median sold prices. See below for more statistics!
REAL ESTATE UPDATE:
RESIDENTIAL # of Sales Average Median Average Median List Price List Price Sold Price Sold Price
July – 2016 83 $1,912,625 $1,249,000 $1,810,035 $1,210,000
July – 2015 126 $1,596,571 $999,000 $1,553,301 $997,500
June – 2016 105 $1,742,898 $1,197,000 $1,685,757 $1,173,000
June – 2015 114 $2,039,542 $1,250,000 $1,965,296 $1,252,500
May – 2016 112 $1,730,770 $1,164,350 $1,680,745 $1,125,000
May – 2015 127 $1,959,030 $1,299,000 $1,869,745 $1,280,000
April – 2016 104 $1,592,940 $1,197,000 $1,538,594 $1,174,500
April – 2015 94 $1,551,742 $997,500 $1,482,599 $975,000
March – 2016 85 $1,752,501 $1,199,000 $1,675,354 $1,225,000
March – 2015 117 $2,000,054 $1,295,000 $1,916,432 $1,205,000
RESIDENTIAL: January 1st – July 31st – 2015 vs. 2016
2015 2016 % Up or down
# Sold Properties: 708 625 Down -11.7%
Median Sold Price: $1,122,500 $1,200,000 Up +6%
Median Sold Price: $961,750 $1,005,000 Up +4.5% w/o Hope Ranch & Montecito
Average Sold Price: $1,844,818 $1,756,073 Down -4.8%
Average Sold Price: $1,290,657 $1,265,843 Down -1.9% w/o Hope Ranch & Montecito
RESIDENTIAL: January – July 2012 – 2016
Year # of Properties Sold Median Sold Price
2016 625 $1,200,000
2015 708 $1,122,500
2014 608 $1,123,000
2013 764 $925,000
2012 734 $797,000
CONDOS
# of Sales Average Median Average Median List Price List Price Sold Price Sold Price
July – 2016 33 $699,884 $599,000 $690,085 $599,000
July – 2015 51 $562,869 $525,000 $556,860 $527,500
June – 2016 47 $678,804 $625,000 $654,872 $620,000
June – 2015 47 $693,397 $649,000 $688.626 $636,000
May – 2016 40 $767,861 $594,000 $751,421 $586,640
May – 2015 53 $724,583 $595,000 $715,338 $591,000
April – 2016 36 $807,000 $699,000 $788,046 $700,000
April – 2015 64 $658,214 $564,500 $660,038 $565,500
CONDOS: January 1st – July 31st – 2015 vs. 2016
2015 2016 % Up or down
# Sold Properties: 328 236 Down -28%
Median Sold Price: $565,500 $635,000 Up +12.3%
Median Sold Price: $553,500 $610,000 Up +10% w/o Montecito
Average Sold Price: $681,997 $787,326 Up +15%
Average Sold Price: $628,799 $692,081 Up +10% w/o Montecito
CONDOS: January – July 2012 – 2016
Year # of Properties Sold Median Sold Price
2016 236 $635,000
2015 328 $565,500
2014 237 $545,000
2013 262 $498,750
2012 233 $400,000
We would like to thank the Santa Barbara Association of Realtors & Coldwell Banker for providing us with our information. As always if you are thinking of buying or selling, or know someone who is, please think of us and make sure you check out our new website at: www.TheSantaBarbaraLifestyle.com. We have new listings coming up and we would not want you to miss out on something that is right for you. Read our “blog” which is found on our website. We are looking forward to hearing from you soon!
Best regards,
Randy & Kellie