Santa Barbara Real Estate Market Report | April 2024

Market Report April 2024

Knight Real Estate Group is proud to present the April 2024 Market Report by Village Properties for South Santa Barbara County. In April 2024, the total sales volume in Santa Barbara surged by 15% compared to the previous year, reaching 385 units. Single family home sales showed a robust 17% increase, totaling 280 units. The average price for a single family homes rose by 7% to $3,463,842, while the median price jumped 11% to $2,227,000. Condominium sales also saw sales volume growth, with an 8% increase to 108 units. However, the average price for condos decreased by 5% to $1,073,065, and the median price remained steady at $925,000.

Overall, our local market has demonstrated consistent growth. Yet, it’s insightful to examine different price segments within the market. By comparing the ratio of active listings to pending sales from Carpinteria to Goleta across three price ranges, we observed the following:

  • Under $3MM: 108 active listings and 91 pending listings
  • $3MM – $6MM: 54 active listings and 14 pending listings
  • Over $6MM: 73 active listings and 10 pending listings

View the full report with insights more accurate than any other Santa Barbara market report, thanks to our friends at Fidelity National Title. We hope you find value in the publication and be sure to view recent sales and blog posts when visiting our website. If you have questions about the market, please reach out anytime.

Click here to view the full report »

Disclaimer: This report is based on available data and market trends as of 4/1/24. Actual market conditions may vary, and individuals are encouraged to consult with real estate professionals for personalized advice.


Santa Barbara Real Estate Market Report | March 2024

Market Report March 2024

Knight Real Estate Group is proud to present the March 2024 Market Report by Village Properties for South Santa Barbara County. Sales volume saw a significant increase of 14% compared to the previous year, totaling 274 sales. Concurrently, the average sale price of single-family homes experienced a moderate 5% rise reaching $3,369,000, while the median sale price increased by a notable 10% to $2,200,000. However, condo sales prices showed a slight decline, with the average sale price decreasing by 11% to $1,055,000, and the median sale price down by 8% to $910,000.

Looking forward, the real estate market is displaying indications of returning to balance. While newly built or remodeled homes still command premium prices, properties in general are experiencing slightly longer time on the market. On average, properties are selling at 96% of their list price, reflecting a 1% decrease compared to last year. The current average sold price per square foot for single-family homes in Santa Barbara stands at $1,166.

Anticipated for Q2 and Q3 is an increase in inventory levels as the market continues to stabilize and consumer confidence in reentering the marketplace grows. Despite challenges such as insurance constraints and associated costs, the market remains buoyed by lifestyle-driven buyers seeking Santa Barbara as a second home or retirement destination, underscoring the enduring appeal of the region. Knight Real Estate Group remains committed to navigating these market dynamics while providing exceptional service to our clients.

For a comprehensive understanding, we encourage you to review the full report, which offers insights more precise than any other Santa Barbara market analysis courtesy of our colleagues at Fidelity National Title. We trust you will find value in this publication, and we invite you to explore recent sales and blog posts on our website. Should you have any inquiries about the market or your property’s value, we are here to assist.

Click here to view the full report »


Santa Barbara Real Estate Market Report | February 2024

Market Report February 2024

Knight Real Estate Group is pleased to present the February 2024 Market Report by Village Properties for South Santa Barbara County. February ushered in a robust period for real estate activity in Santa Barbara. The year commenced with a notable surge in demand from buyers, largely driven by reductions in interest rates. This heightened demand translated into an increase in sales volume across South Santa Barbara County, with total sales rising by an impressive 23% to 174 units compared to the same period in 2023. Specifically, single-family home sales experienced a notable uptick of 15%, totaling 116 units, while condominium sales surged by 41% to reach 58 sales.

In parallel with the heightened sales activity, both average and median prices for single-family homes experienced substantial increases, rising by 16% to $3,704,584 and 18% to $2,300,000, respectively. Conversely, condominium prices exhibited a different trend, with average sales prices declining by 8% to $990,621, and median sale prices decreasing by 2% to $902,500. These metrics reflect an evolving landscape within the Santa Barbara real estate market and suggest an exciting trajectory for the year ahead.

For a comprehensive understanding of the market dynamics, we encourage you to review the full report, which boasts insights more precise than any other Santa Barbara market report, courtesy of our associates at Fidelity National Title. We trust you will find value in this publication, and we invite you to explore recent sales and blog posts on our website. Should you have any questions on market trends, please feel free to reach out any time.

Click here to view the full report »


Santa Barbara Real Estate Market Report | January 2024

Market Report January 2024

Knight Real Estate Group is pleased to present the January 2024 Market Report by Village Properties for South Santa Barbara County. The real estate market began the year on an optimistic note with January witnessing a total of 85 sales, marking a significant 25% surge compared to January 2023. Among these transactions, 34 were cash purchases, constituting 41% of the total monthly sales volume. Sales activity in the single-family homes segment saw a notable 13% uptick totaling 59 sales, while condo sales surged by an impressive 53%, reaching 25 sales during the month.

Despite strong demand, inventory remains tight with only 2.03 months of housing supply available, thereby contributing to the stability of single-family home prices. The average sale price for single-family homes held steady at $3,200,139 compared to January 2023, while the median sale price saw a substantial 36% rise to $2,425,000 due to an increase in luxury sales. In contrast, condominium sales experienced slight depreciation in both average and median sale prices, suggesting a nuanced and dynamic entry-level market.

In sum, the market demonstrated resilience and momentum during January, driven by lower interest rates and pent-up buyer demand for single-family homes. While challenges such as inventory constraints persist, overall market conditions remain favorable, offering opportunities for both buyers and sellers in the months ahead.

View the full report with insights more accurate than any other Santa Barbara market report, thanks to our friends at Fidelity National Title. We hope you find value in the publication and be sure to view recent sales and blog posts when visiting our website. If you have questions about the market, please reach out anytime.

Disclaimer: This report is based on available data and market trends as of 1/31/24. Actual market conditions may vary, and individuals are encouraged to consult with real estate professionals for personalized advice.

Click here to view the full report »