In 2024 the southern Santa Barbara real estate market saw a 16% increase in inventory. The number of new listings for the southern Santa Barbara real estate market in 2024 was 1,169, up from 1,009 in 2023. With nearly 100 homes listed each month, on average, 70 homes sold each month with the strongest sales in the summer.
Some homeowners were unhappy with interest rates and held back listing their homes. While the supply of available homes is still relatively low, buyer demand continues to drive prices up.
The three most active zip codes in 2025 are Carpinteria, Santa Barbara, and Goleta which are experiencing a “seller’s market.”
Montecito cooled some in 2024 but had an unusually busy January in 2025. During the pandemic buying frenzy nearly 300 homes sold each year in Montecito. In 2024 130 homes sold in Montecito and the median home price rose from $5,460,000 to $5,687,500.
The average days on the market in 2024 for southern
Santa Barbara was 55 days and sellers, on average, walked away with 96% of their asking price.
The California Association of Realtors forecast is for a modest rise in the median price and an increase of homes for sale in 2025. The reality is that there aren’t enough properties for sale to satisfy every buyer’s demand for Santa Barbara.
In 2025 keep an eye on interest rates, politics that affect real estate, and best of luck out there.
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