344 Single-Family-Homes are Actively Listed in Santa Barbara, Montecito, and Hope Ranch*

  • Lowest list price:   $605,000   
  • Highest list price:  $85,000,000
  • Average list price: $4,970,807
  • Median list price:   $2,875,000

Of the active homes, 95 are already under contract. This leaves only 248 active homes on the market. Let's break down the available inventory by price range:

  • Homes listed under $1,000,000: 30
  • Homes listed $1,000,001 - $2,000,000: 97
  • Homes listed $2,000,001 - $5,000,000: 129
  • Homes listed over $5,000,000: 88

So, are we in a buyer's market or a seller's market? 

That depends on your price point! Less than 6 months of inventory is a SELLER'S market, 6 or more months of inventory make a BUYER'S market. 

  • Homes listed under $1,000,000: 2.30 months SELLER'S MARKET (absorption rate: 13 sales/mo, 6 mo. avg). 
  • Homes listed $1,000,001 - $2,000,000: 4.6 months SELLER'S MARKET (absorption rate: 21 sales/mo, 6 mo. avg). 
  • Homes listed $2,000,001 - $5,000,000: 9.2 months BUYER'S MARKET (absorption rate: 14 sales/mo, 6 mo. avg). 
  • Homes listed over $5,000,000: 29.3 months BUYER'S MARKET (absorption rate: 3 sales/mo, 6 mo. avg). 

Based on the last six months, on average, how long will it take to sell your home in today's market? To find out what your home is worth click HERE

  • Sales prices under $1,000,000: 46 days
  • Sales prices $1,000,000 - $2,000,000: 81 days
  • Sales prices $2,000,001 - $5,000,000: 125 days
  • Sales prices over $5,000,000: 207 days

 20 Homes Closed Escrow 

The average sold price was $1,979,659 ranging from $1,100,000 to $3,850,000.

23 New Listings Hit the Market

This includes two new Montecito Opportunites by Maureen McDermut! 

 

Below is a list of homes that became active in the last 7 days.

$595,000
2 beds - 2 Baths

7632 Hollister Ave #250

Goleta, California

Listing office: David Scott Broker

MLS® ID: 17-3217

$299,900
3 beds - 1+ Baths

308 E Lemon Ave

Lompoc, California

Listing office: Keller Williams Realty Santa Barbara

MLS® ID: 17-1752

$2,799,000
4 beds - 4+ Baths

1210 Via Brigitte

Santa Barbara, California

Listing office: Berkshire Hathaway Home Services California Properties

MLS® ID: 17-3216

$2,049,000
3 beds - 3 Baths

902 Paseo Ferrelo

Santa Barbara, California

Listing office: Sun Coast Real Estate

MLS® ID: 17-3215