Santa Barbara South County
Market Report Data Feb 2016/2017

Given the year over year average and median price trends for the month of February , majority of the numbers show a downward trend in List Prices & Sold Prices from this time last year.

Continuing to look into the year over year comparison of 2016 vs 2017, we have had very significant declines. The Median Sales price has fallen over the past year around 16%, while the Average Sales price has declined by almost 23%. Contrary to these declines, the number of Sold properties has been on the rise; 9% more homes have sold than this time last year

Over the last four years for the Jan-Feb Median Sales0 Prices have fluctuated with the changing market. The two most significant changes was the increase in Med Sales price from 2015 to 2016, with a substantial decline over 2016 to 2017. We are currently close to the 2014 Median Sale price numbers.

The total number of homes entering escrow  at this time has increased substantially by over 22%, or 34 more homes entering into transactions. There are around 60 more active listings than there were at this time in 2016, while the number of new homes coming on the market has dropped slightly.

With spring time approaching, there should be a continued influx of new listings, and more competition in the buyers market. Due to the inclement weather over the last month or two might be one of the main reasons for the decline of new listings.