Is Summerland, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summerland is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Summerland was a Seller's Market.

Key Takeaway

Summerland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Summerland, CA

How much do homes in Summerland, CA cost?

Median Sold Price

$2,700,000

$1,246/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$350,000(-11.5%)

Key Takeaway

Homes in Summerland have sold for 11.5% less than they did a year ago.

Summary: The median home sold price in Summerland was $2,700,000 in September 2024, down 11.5% from last year, and the median price per square foot was $1,246.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $1.4M$1.6M
+14.5%
3 $2.5M$3.0M
+22.5%
4 $8.0M$13.0M
+61.0%
5+ $5.3M-
N/A

Summary: Summerland housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 61%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Montecito
+9.8%
Summerland
-11.5%

Housing Supply in Summerland, CA

How many homes are available in Summerland, CA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1118+63.6%

Summary: The Summerland real estate market had 18 homes for sale in September 2024, a 63.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 510
+100.0%
4 23
+50.0%
5+ 11
0.0%

Summary: The Summerland housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summerland, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Summerland in September 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Summerland, CA

How long does it take to sell a home in Summerland, CA?

Average Sale Time

Sep 2023Sep 2024CHANGE
24 Days43 Days+74.3%

Summary: Homes in Summerland had an average of 43 days on market in Sep 2024, up by 74.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Summerland has remained consistent over time.

Summary: During September 2024, 1 homes were sold in Summerland; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 Sep 1, 2024

Newest Listings in Summerland, CA

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