Is Santa Barbara, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Santa Barbara has remained a Seller's Market.
Housing Prices in Santa Barbara, CA
How much do homes in Santa Barbara, CA cost?
Median Sold Price
$2,200,000
$1,307/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Santa Barbara was $2,200,000 in May 2024, up 13.4% from last year, and the median price per square foot was $1,307.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $786K | $828.4K | +5.4% |
2 Bedrooms | $1.3M | $1.3M | -0.8% |
3 Bedrooms | $1.9M | $2.1M | +13.5% |
4 Bedrooms | $2.5M | $2.9M | +12.4% |
5+ Bedrooms | $4.9M | $4.4M | -9.9% |
Summary: Santa Barbara housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes decreased by 9.9%.
Median Sold Price Compared To Nearby Cities
Santa Barbara | $1.9M | $2.2M | +13.4% |
Goleta | $1.2M | $1.2M | +2.2% |
Housing Supply in Santa Barbara, CA
How many homes are available in Santa Barbara, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
352 | 371 | +5.4% |
Summary: The Santa Barbara real estate market had 371 homes for sale in May 2024, a 5.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 10 | +11.1% |
2 Bedrooms | 55 | 61 | +10.9% |
3 Bedrooms | 126 | 125 | -0.8% |
4 Bedrooms | 101 | 113 | +11.9% |
5+ Bedrooms | 61 | 62 | +1.6% |
Summary: The Santa Barbara housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 10.9%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 1.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
94 | 86 | -8.5% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 86 homes were sold or pending in Santa Barbara in May 2024, down by 8.5% month-over-month. Of the 86 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 44 Days | +20.6% |
Summary: Homes in Santa Barbara had an average of 44 days on market in May 2024, up by 20.6% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During May 2024, 86 homes were sold in Santa Barbara; 64% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.