Is Santa Barbara County, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Santa Barbara County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Santa Barbara County has remained a Seller's Market.

Key Takeaway

Santa Barbara County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Santa Barbara County, CA

How much do homes in Santa Barbara County, CA cost?

Median Sold Price

$1,220,730

$485/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$86,161(+7.6%)

Key Takeaway

Homes in Santa Barbara County have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Santa Barbara County was $1,220,730 in October 2024, up 7.6% from last year, and the median price per square foot was $485.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $750K$714K
-4.8%
2 $882.6K$950K
+7.6%
3 $1.1M$1.0M
-5.1%
4 $1.3M$1.5M
+13.7%
5+ $3.1M$3.0M
-2.8%

Summary: Santa Barbara County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes increased by 7.6%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes decreased by 2.8%.

Median Sold Price Compared To Nearby Counties

Santa Barbara County
+7.6%
Ventura County
+6.0%
San Luis Obispo County
+5.5%
Kern County
+1.4%

Housing Supply in Santa Barbara County, CA

How many homes are available in Santa Barbara County, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
850862+1.4%

Summary: The Santa Barbara County real estate market had 862 homes for sale in October 2024, a 1.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1524
+60.0%
2 122144
+18.0%
3 334328
-1.8%
4 259248
-4.2%
5+ 120118
-1.7%

Summary: The Santa Barbara County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 18%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 1.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
184194+5.4%

Asking Price vs. Sold Price

101 Homes Were Sold
Under Asking

36 Homes Were Sold
At Asking

57 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Santa Barbara County, you may be able to get a good deal. 52.1% of homes here sold below asking price last month.

Summary: A total of 194 homes were sold or pending in Santa Barbara County in October 2024, up by 5.4% month-over-month. Of the 194 sold homes, 52% were sold under asking, 19% were sold at asking, and 29% were sold over asking.

Days on Market for Santa Barbara County, CA

How long does it take to sell a home in Santa Barbara County, CA?

Average Sale Time

Oct 2023Oct 2024CHANGE
35 Days37 Days+4.4%

Summary: Homes in Santa Barbara County had an average of 37 days on market in Oct 2024, up by 4.4% compared to last year.

Breakdown of Home Sale Times

127 Homes Were Sold
Under 30 Days

47 Homes Were Sold
In 30 - 90 Days

20 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Santa Barbara County are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 194 homes were sold in Santa Barbara County; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

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