Santa Barbara Real Estate Market Report | May 2021

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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%.

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Santa Barbara Real Estate Market Report | April 2021

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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%.

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Santa Barbara Real Estate Market Report | March 2021

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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!

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Santa Barbara Real Estate Market Report | February 2021

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Could we be in the middle of the hottest Seller’s market ever? Maybe! The February 2021 market data confirms that demand for properties across all price points remains high, while inventory levels are still very low. These conditions have pushed the median sales price along the South Coast up 24% from February 2020, setting a new record high. View the full report for more details.

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