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Following are the current YTD and mid-Q4 housing market stats for Santa Barbara and surrounding areas. Condos have decreased in every category except for median price, and houses have had increased in inventory, number under contract (mid-Q4), number sold (mid-Q4), and median price.
YTD – Percentage Change Over Last Year
Condos: 10% decrease in number of listings, 23% decrease in pending sales, 24% decrease in number sold, 16% decrease in sold volume, 7% increase in median price from $595,000 to $640,000.
Houses: 5% increase in number of listings, 11% decrease in pending sales, 6% decrease in number sold, 13% decrease in sold volume, 3% increase in median price from $1.155M to $1.2M.
Mid-Q4 – Percentage Change Over Last Year
Condos: 41% decrease in new listings, 15% decrease in pending sales, 12% decrease in number sold, 20% decrease in sold volume, 5% increase in median price from $617,500 to $649,000.
Houses: 22% increase in new listings, 22% increase in pending sales, 4% increase in number sold, 19% decrease in sold volume, 5% increase in median price from $1.032M to $1.09M.
It will be interesting to see how year-end numbers finish up for Santa Barbara’s real estate market. Many home buyers have come off the fence in the past month and a half, prompted by new inventory and a previous lack of buyer competition for available properties. I look forward to keeping you posted with the latest news and appreciate your inquiries.
