The Santa Barbara luxury real estate market kicked off 2025 with notable activity across all sectors. Here’s a quick snapshot of the latest trends:
- Total Sales: 102 sales across South Santa Barbara County, up from 96 in January 2024.
- Average Sales Price: $3,778,122, reflecting a 60.5% increase year-over-year.
- Median Sales Price: $2,000,000, up 22.3% from last year.
- Sales Over $1M: 81 properties sold for over $1M, with 51 of those transactions being all-cash.
Neighborhood Highlights:
- Montecito: 26 sales with an average price of $8,802,673, an 83.1% increase. The highest sale hit $30M.
- Santa Barbara: 51 sales with an average price of $2,031,304, up 11.1%.
- Carpinteria: 16 sales, average price $2,376,373, a 65.8% jump.
- Goleta: 6 sales, average price $1,142,250.
- Hope Ranch: 1 sale at $3,370,000.
- Summerland: 2 sales, average price $2,328,500.
Market Insights:
- Cash Dominance: 51% of transactions were all-cash, indicating strong buyer confidence.
- Luxury Segment Growth: Montecito saw substantial activity in the luxury market, with several sales surpassing $10M.
- Inventory Levels: 98 properties on the market with a 2.62-month supply, suggesting ongoing demand.
The market’s momentum, especially in the high-end segment, signals a positive outlook for 2025. If you’re considering buying or selling, now is a great time to explore your options in this dynamic market.
Contact me for more insights or to discuss your real estate goals!
