The residential real estate industry just witnessed a seismic event: the proposed combination of Compass and Anywhere Real Estate. This deal is set to create the world’s largest real estate enterprise, but it also shines a spotlight on the controversial business practices and market power of these two giants.
Here is a breakdown of the companies, the combined entity, and the hot-button issues at play.
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As Q3 wraps and September’s stats roll in, South Santa Barbara County’s residential market tells a tale of recalibration. After years of pandemic-fueled frenzy, 2025 is shaping up as the year the market caught its breath—albeit with a few raised eyebrows and some price tags still flexing their luxury muscles.
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If you’ve been waiting for a window to open in the Santa Barbara real estate market, this might just be it — and it’s not a drafty one. With interest rates dipping to their lowest level since early April and inventory on the rise, buyers are finally seeing some breathing room.
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If you’ve been wondering whether the Southern Santa Barbara real estate market is cooling off or just catching its breath—spoiler alert—it’s the latter. As we cruise through mid-2025, the region continues to defy broader market trends with a cocktail of rising inventory, resilient demand, and a dash of Hollywood sparkle.
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Home prices in Santa Barbara continue to fluctuate, presenting a mixed picture for buyers and sellers. While the median listing home price currently averages around $2.6 million, data from Zillow indicates that home values have increased overall by 7.2% over the past year. This rise, however, comes with neighborhood variations in values. Prime neighborhoods with homes in excellent condition, priced realistically, are moving. Homebuyers taking part in this market should brace themselves for possible bidding wars, particularly in the better neighborhoods. August sales in 2024 were up from the same time in 2023.
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The Santa Barbara real estate market trends for 2024 have been admirable. In the first half of the year, there were 625 sales, a 12% increase compared to last year. While single-family detached homes accounted for 446 homes sold, reflecting a 15% increase over the same period as last year, condominiums and townhomes accounted for 179 homes sold, a 7% increase.
The average sales price for single-family detached homes rose by 14% to $3,714,928 while the median price rose by 7% to $2,250,000.
The average sales price for condominiums decreased by 3% to $1,135,143 and the median price rose 5% to $975,000.
In the second quarter of this year, all cash sales made up 42% of all sales, a 2% increase from the same period last year.
Inventory supply has picked up. The inventory supply has climbed to its highest level since 2020. Sitting at just over 3 months. Source: Fidelity National Title Company.
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Looking back at the last six months the south coast of Santa Barbara, spanning from Goleta to Carpinteria, we’ve not...
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