Is Santa Barbara, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$2,161,108
$1,284/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Santa Barbara was $2,161,108 in March 2024, up 10.8% from last year, and the median price per square foot was $1,284.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $825K | $815K | -1.2% |
2 Bedrooms | $1.3M | $1.3M | 0.4% |
3 Bedrooms | $1.9M | $2.1M | +12.8% |
4 Bedrooms | $2.5M | $2.8M | +12.9% |
5+ Bedrooms | $4.9M | $4.8M | -2.4% |
Summary: Santa Barbara housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
Santa Barbara | $1.9M | $2.1M | +10.8% |
Goleta | $1.2M | $1.2M | +2.0% |
Housing Supply in Santa Barbara, CA
How many homes are available in Santa Barbara, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
290 | 305 | +5.2% |
Summary: The Santa Barbara real estate market had 305 homes for sale in March 2024, a 5.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 8 | +100.0% |
2 Bedrooms | 51 | 47 | -7.8% |
3 Bedrooms | 104 | 108 | +3.8% |
4 Bedrooms | 70 | 84 | +20.0% |
5+ Bedrooms | 61 | 58 | -4.9% |
Summary: The Santa Barbara housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 4.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
72 | 82 | +13.9% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 82 homes were sold or pending in Santa Barbara in March 2024, up by 13.9% month-over-month. Of the 82 sold homes, 43% were sold under asking, 21% were sold at asking, and 37% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 42 Days | +27.7% |
Summary: Homes in Santa Barbara had an average of 42 days on market in Mar 2024, up by 27.7% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During March 2024, 82 homes were sold in Santa Barbara; 70% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.