August 2025 Market Report

Full Report

The Santa Barbara real estate market carried strong momentum into the close of August 2025, with both sales volume and prices reflecting a healthy demand across the region. Year-to-date, total sales have reached 908, representing a 9% increase over the same period in 2024. Single-family home sales continue to lead the way, rising 12% with 663 transactions, while condominium sales also climbed 3% with 245 closings. This steady growth reflects a market that remains competitive yet balanced, with opportunities on both sides of the transaction.

South Santa Barbara County

In South Santa Barbara County, single-family homes posted a median sales price of $2,365,000—an 8% increase over last year—while the average price landed at $3.6 million. Condominiums, on the other hand, are seeing even sharper appreciation, with the average sales price up 18% to $1.36 million and the median up 8% to just over $1 million. This trend suggests that condos are becoming an increasingly attractive option for buyers who may be priced out of single-family homes but still want access to the lifestyle and amenities of the South Coast.

Community Highlights

Montecito continues to stand out as a leader in luxury real estate. The median single-family home price now sits at $6.15 million, with condos following at $2.75 million, reflecting its enduring status as a magnet for high-net-worth buyers. In the city of Santa Barbara, demand remains strong as well, with single-family homes reaching a median of $2.64 million and condos at $1.15 million, underscoring the ongoing appeal of its mix of historic charm and coastal convenience. Goleta is proving to be a competitive entry point for many buyers, where the median single-family home price has risen to $1.65 million and condos surged 18% year-over-year to $954,000. Meanwhile, Hope Ranch, known for its ultra-luxury estates, has seen some fluctuation. The year-to-date median sits at $6.2 million, though August alone reflected a slight dip to $6 million, a reminder of the variability that comes with such exclusive transactions.

Market Trends Over Time

Over the past five years, the South Santa Barbara County market has shown a steady climb in median home prices alongside fluctuating sales activity. While the number of sales tends to ebb and flow seasonally, the overall trend in pricing has remained on an upward trajectory, reflecting the strong demand and limited inventory that define our coastal market.

What’s most notable is the resilience of median prices, which have held firm even during periods when sales volume dipped. This dynamic highlights the underlying strength of buyer demand in our area and the long-term value of owning property here.

What This Means for Buyers and Sellers

For buyers, these trends highlight the need for preparation and agility. With prices continuing to rise and competition remaining fierce, especially in the mid-market range, being pre-approved and ready to move quickly is crucial. Condos present an increasingly attractive option for those looking to enter the market without compromising location or amenities. For sellers, the data points to a continued advantage. Well-priced, well-prepared properties are drawing strong interest, and in communities like Montecito, Santa Barbara, and Goleta, multiple offers are still common.

Want the full story?

Check out the full Santa Barbara Area Real Estate Report August 2025 for detailed breakdowns by neighborhood, charts, trends, and expert insight.

Thinking about buying or selling in Santa Barbara? Let’s connect to talk through your goals and how today’s market trends impact your opportunities.

Alyson Spann

Alyson@SpannAssociates.com

805.637.2884