The Santa Barbara South County real estate market shows trends and recent sales data for the Santa Barbara & surrounding areas. According to the 28-Year Price Trend shown below, the average price range took a slight decline between 2015 and 2016, when we started to see a small increase in 2017, which has stayed relatively steady for 2018. In the past year we have seen approx. a 0.47% increase, or approx. $7,000 increase in average sales prices. The median price levels show a linear increase from 2015 to 2017, with increases of about $50,000+/- per year. Over the last year, there has been almost zero change in median price levels. The average price in SB South County is approximately 1.438 million, while the median price is currently $985,000.
The total number of sales decreased for the first month of 2018 by about 32.5% from 132 to 89 total sales. Since, we have seen a steady increase in sales throughout the entire summer, besides a minimal decline in July, which is consistent with the 2017 trend. Over the last month total sales increased by approx. 17% from 124 sales in November to 146 in the month of December. Based on the models from previous years, we should expect a gradual decline of sales transactions through the the beginning of 2019, and then a consistent rise in sales throughout spring and summer. Last year we saw the number of home sales reach yearly low during the winter months – with sales starting to increase again in February – This year we have seen an increase in sales earlier, with increases so far being by approx. 10-20% per month., which tapered out in June, reached a brief decline in July and peak sales numbers in August.
The below graphic shows the total number of transactions for the month of December 2018. Additionally, the sales are listed by area and address, while being distinguished by being a home or condo. Lastly the list designates whether it was a cash sale, and the few properties that were non-MLS sales.
YEAR IN REVIEW – 2018 Sales Overview by Area