6 MONTH Comparison for Santa Barbara’s Real Estate Market

It is amazing how fast the year seems to be moving.  Can you believe that we are already in the second half of 2016? Wow! So, how is the real estate market in the Santa Barbara (Carpinteria, Summerland, Montecito, Santa Barbara, Hope Ranch and Goleta) area?

Since 6 months have gone by, it is a good time to reflect on the market trends, what we are seeing, and also to compare the first six months of 2016 vs. the first six month of 2015.  See below.

In summary, market is still strong with the overall median sales price and list price being up, even though the average sales price is down and there were less sales in 2016 than 2015. There is activity and we still appear to be in seller’s market due to supply and demand. Homes that are priced correctly and those under $1,000,000 have been receiving multiple offers, and all cash buyers are involved in nearly 28% of the market.

July Estate Update

REAL ESTATE UPDATE:

RESIDENTIAL            # of Sales        Average         Median           Average          Median

                                                            List Price        List Price         Sold Price      Sold Price

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      $1,295,000      $1,916,432      $1,205,000

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 –  June 30th

                                                 2015                         2016                       % Up or down

# Sold Properties:                  583                           540                          Down  -7.4%

Median Sales Price:   $1,175,000              $1,195,000                                Up  +.7%

Median Sales Price:      $972,000              $1,015,000                              Up  +4.4%                                                                                                                                         w/o Hope Ranch & Montecito

Average Sales Price:  $1,906,450              $1,750,552                          Down  -8.0%

Average Sales Price:  $1,328,757              $1,258,325                          Down  -5.3%                                                                                                                                        w/o Hope Ranch & Montecito

 

CONDOS         # of Sales      Average          Median             Average           Median

                                               List Price        List Price         Sold Price        Sold Price

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 –  June 30th  –  2015 vs. 2016

                                           2015                        2016                          % Up or down

# Sold Properties:            277                           203                              Down  -26.7%

Median Sales Price:    $580,000                 $635,000                               Up  +9.5%

Median Sales Price:    $565,000                 $620,000                               Up  +9.7% w/o Montecito

Average Sales Price:   $705,037                $803,134                               Up   +14.0%

Average Sales Price:   $647,327                $701,751                               Up   +8.4% w/o Montecito

 

We would like to thank to SBAOR and 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 current listings, our SB open guide, which is updated daily, and more from our blog and Facebook. Sign up for our monthly newsletter for more in-depth information!

Thank you!

Kellie & Randy

Skip to content