Santa Barbara Real Estate Market Report | June 2021
Summer is going strong! The June Real Estate Market statistics show that the market is still moving fast, and Knight Real Estate Group continues to keep pace with the demand. We currently have 6 properties under contract with more listings coming to market every week.
View the full report with insights more accurate than any other Santa Barbara market report thanks to our friends at Fidelity National Title. And as always, give us a call if you would like to have a conversation on our local real estate market.
Santa Barbara Real Estate Market Report | May 2021
Home sales in South Santa Barbara County remain piping-hot as we move into the summer months. This is the time when we typically expect the real estate market to heat up. The question on everyone’s mind now is, can the market get any hotter?!? The month of May saw sales of single family homes increase 145% (May ’21 v. May ’20). The average sales price increased 67% in 2021 compared to 2020, while the median sales price increased 95%. Condominiums experienced similar increases in sales, with a more modest average price increase of 6%.
Santa Barbara Real Estate Market Report | April 2021
We glanced at the market stats, then did a double take. The numbers are astonishing, even to those of us who live and breathe real estate every day. Highlights from the South Santa Barbara County Real Estate Market Report for April 2021 are:
• The median sales price of a single-family home has increased 49.1% over the last year. The median sales price went from $1.3 mill in 2020 to $1,938,000 in 2021. If you remove Montecito and Hope Ranch sales, the median sales price has still increased 31.4%.
• The median sales price of a condo has increased 21.4% over the last year. The median sales price went from $697,500 in 2020 to $799,500 in 2021. If you remove Montecito condo sales, the median sales price has still increased 17.1%.
Santa Barbara Real Estate Market Report | March 2021
As the numbers reflect, a shortage of homes for sales is the rocket fuel pushing prices higher across South Santa Barbara County. A lack of supply is creating unprecedented market competition, leading to a record share of homes selling above the asking price in March. Will these conditions continue? Check back next month for an update!