Latest Santa Barbara Area Real Estate Market Trends
Residential Single-Family Homes and Estates.
Santa Barbara, Montecito, Carpinteria, Summerland, Hope Ranch, and Goleta. Data source: SBAOR MLS
Updated: 01 February 2017 (EDITOR NOTE: This is sample data - update monthly)
Median Price - Entire Santa Barbara Real Estate Market
12-Month Median Sold Price
Year over Year Statistics
[01/01/2015 - 12/31/2015] VS. [01/01/2016 - 12/31/2016]
2015 Median Sold Price:
2016 Median Sold Price:
2015 Cumulative Days on Market:
2016 Cumulative Days on Market:
2016 Q4 Statistics
2016 Quarter 4 Median Sold Price:
2016 Quarter 4 Sold Volume:
2017 Price Range Activity
$0 - $999,999:
$1M - $1.999M:
$2M - $4.999M:
$5 MILLION +:
Santa Barbara Comprehensive Real Estate Market Analysis:
2016 South Coast Real Estate Market, the Year in Review A year ago, most predictions for the 2016 real estate market pointed toward gradual price increases, but with a slightly cooler market. The election certainly proved that predictions are not always correct, but it seems that economists and the media generally got it right for real estate -- at least for our beautiful South Coast.
Not all neighborhoods followed the same pattern, but based on data from the Santa Barbara Multiple Listing Service, the overall trend here followed expectations with a higher median price and a few less sales than in 2015. Last year about 2% fewer single family homes and PUDs (planned unit developments) were sold, and the median sale price for the year was $1,149,000, up 4.5% from 2015’s median of $1.1 million. The median price in 2015 had actually gone down compared to 2014, and for three years running it has stayed within the $1,100,000 to $1,149,500 range.
The notable exceptions to 2016 price increases occurred in luxury neighborhoods. Montecito’s median price of $2,795,000 was about 3.5% lower than 2015, and the Hope Ranch median dropped 14.7%. That number doesn’t alarm us too much right now, because Hope Ranch is the smallest market we track, and just a few sales can skew the data.
Together, Montecito and Hope Ranch comprised about 17% of all the sales on the South Coast last year. More robust markets in Goleta and Santa Barbara, which together accounted for 75% of all sales, kept the overall median price on the increase.
Data source: Sue Irwin, SBAOR
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