Is Santa Barbara, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Santa Barbara has remained a Seller's Market.
Key Takeaway
Santa Barbara is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Santa Barbara, CA
How much do homes in Santa Barbara, CA cost?
Median Sold Price
$2,195,208
$1,307/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Santa Barbara have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in Santa Barbara was $2,195,208 in April 2024, up 15.3% from last year, and the median price per square foot was $1,307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $825K | $805.9K | -2.3% |
| 2 Bedrooms | $1.3M | $1.3M | +2.3% |
| 3 Bedrooms | $1.8M | $2.1M | +15.8% |
| 4 Bedrooms | $2.5M | $2.9M | +12.6% |
| 5+ Bedrooms | $4.9M | $4.4M | -10.5% |
Summary: Santa Barbara housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Santa Barbara | $1.9M | $2.1M | +15.3% |
| Goleta | $1.2M | $1.2M | +2.4% |
Housing Supply in Santa Barbara, CA
How many homes are available in Santa Barbara, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 313 | 351 | +12.1% |
Summary: The Santa Barbara real estate market had 351 homes for sale in April 2024, a 12.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 11 | +10.0% |
| 2 Bedrooms | 50 | 56 | +12.0% |
| 3 Bedrooms | 109 | 123 | +12.8% |
| 4 Bedrooms | 88 | 99 | +12.5% |
| 5+ Bedrooms | 56 | 62 | +10.7% |
Summary: The Santa Barbara housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 10.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 83 | 94 | +13.3% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Santa Barbara, you may be able to get a good deal. 58.5% of homes here sold below asking price last month.
Summary: A total of 94 homes were sold or pending in Santa Barbara in April 2024, up by 13.3% month-over-month. Of the 94 sold homes, 59% were sold under asking, 12% were sold at asking, and 30% were sold over asking.
Days on Market for Santa Barbara, CA
How long does it take to sell a home in Santa Barbara, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 33 Days | +24.7% |
Summary: Homes in Santa Barbara had an average of 33 days on market in Apr 2024, up by 24.7% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Santa Barbara are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 94 homes were sold in Santa Barbara; 70% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.