350 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: $4,970,669
- Median list price: $2,850,000
Of the active homes, 110 are already under contract. This leaves only 240 active homes on the market. Let's break down the available inventory by price range:
- Homes listed under $1,000,000: 32
- Homes listed $1,000,001 - $2,000,000: 98
- Homes listed $2,000,001 - $5,000,000: 126
- Homes listed over $5,000,000: 47
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: 2.3 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 months BUYER'S MARKET (absorption rate: 14 sales/mo, 6 mo. avg).
- Homes listed over $5,000,000: 15.6 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: 51 days
- Sales prices $1,000,000 - $2,000,000: 88 days
- Sales prices $2,000,001 - $5,000,000: 129 days
- Sales prices over $5,000,000: 96 days
11 Homes Closed Escrow
The average sold price was $1,668,927 ranging from $943,000 to $3,350,000.
34 New Listings Hit the Market
Below is a list of listings that became active in the last 7 days.
161 Sawtelle Ave
Listing office: Real Estate Services Unlimited Inc.
MLS® ID: 17-3974
401 Chapala St #402
Santa Barbara, California
Listing office: Berkshire Hathaway Home Services California Properties
MLS® ID: 17-3972