Maurie McGuireStatistical Analysis of South Santa Barbara County Real Estate Data | May 2016
By: Scott Westlotorn
The Medium sales price of the 175 single family home sales on the south coast of Santa Barbara from May 3 to June 25 was $945,000. Down significantly from the number of sales this same period last year of 204. The average price per square foot was up 3% to $737.01 compared to the same period last year of $717.26.
Total Active listings are down 17% keeping an upward bias on prices up nearly 7½ % year over year. This has encouraged more seller’s into the market with a 5.6% increase in new listings. Sales however are down 8%.
Open house activity slowed a bit over Father’s Day and Graduation’s. There are buyers out looking for new homes and listings are seeing an increase in inquiries and scheduled showings. Offers generally follow this activity so we should see the number of escrows start to increase into July. If you’re thinking of selling please call us for a market evaluation and see what we do to get home’s sold in the top of the markets value range.
Click links below for May 2016 data covering Santa Barbara, Montecito, Summerland, Carpinteria, Hope Ranch, & Goleta: