Santa Barbara Real Estate Market Trends

The Real Estate Scene in Santa Barbara

All real estate markets are local. Santa Barbara’s real estate scene reflects what’s happening in southern Santa Barbara.
Overall, homes elsewhere in California are slightly less expensive than they were one year ago — but only very slightly. According to data from the California Association of Realtors (CAR), the median single-family home sold for $777,500 in November 2022, compared to $782,480 in November 2021. Significantly higher interest rates make that already-high price feel even less affordable.
This does not hold true across all areas of the state. For example, Fresno, Los Angeles, and Orange County saw equally slight increases year-over-year, while the wine-country regions of Napa and Sonoma saw more significant increases.
Homes are also taking longer to sell, CAR reports. In October 2021, homes spent an average of 11 days on the market before selling. A year later, that number had more than doubled to 23 days on the market.

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Here’s What’s Happening in Santa Barbara

Santa Barbara Home Sales per month 2013 to 2023 – 69 Homes Sold in January 2023