July 2025 Market Report

Full Report

The Santa Barbara real estate market is thriving as we move through 2025, with strong sales activity and steady price growth across nearly every segment. Year-to-date, total sales have climbed to 796 transactions, an 11% increase compared to the same period in 2024. Single-family homes continue to dominate the market, accounting for 575 of those sales—up 12% from last year—while condominiums have also seen healthy momentum with 221 sales, a 9% year-over-year increase

Home Prices on the Rise

Pricing trends tell a clear story of demand outpacing supply. The median sales price for single-family homes in South Santa Barbara County has risen 10% from last year, now reaching $2,430,000, while the average sales price sits just over $3.7 million. Condominiums have seen even sharper growth, with the average sales price jumping 20% to $1.38 million and the median price climbing 13% to $1.09 million. These numbers highlight the growing appeal of condos as both an entry point into the market and an attractive downsizing option for those seeking a more simplified lifestyle.

Regional Market Trends

Looking across the county, different communities are experiencing unique trends. Montecito remains one of the strongest luxury markets in the area, with average single-family home prices hovering around $7.6 million and the median at $6 million. In July alone, the community saw average sales rise by 21% compared to 2024, a sign of continued appetite for high-end properties.

Santa Barbara itself has been busy, with nearly 250 single-family sales recorded so far this year and a median price of just over $2.3 million. Condos in the city remain particularly competitive, with a median price of $1.17 million, demonstrating how desirable these more accessible options are becoming. Goleta, often seen as a value alternative to central Santa Barbara, continues to hold steady with a median price of $1.65 million across 147 single-family sales. Hope Ranch has maintained its reputation for exclusivity, averaging more than $7.5 million per home, although recent numbers suggest a slight cooling compared to last year.

Meanwhile, the Santa Ynez Valley is telling a different story. While sales volume is holding steady, prices have softened. The median single-family price is down 8% to $1.78 million, a shift that could open the door for buyers looking to secure property in this sought-after wine country setting.

What It Means for Buyers and Sellers

For buyers, the trends across the county reinforce the need to be prepared. Rising prices and competitive markets mean that pre-approval and readiness to act quickly remain essential. Areas like Santa Ynez and Goleta may provide opportunities for those looking for slightly more approachable price points without sacrificing lifestyle.

For sellers, the outlook remains favorable. Demand is strong, inventory is tight, and well-presented properties are still drawing multiple offers. With price growth continuing in both the single-family and condominium markets, homeowners considering a sale are positioned to take advantage of one of the strongest markets we’ve seen in recent years.

As we move through the rest of 2025, Santa Barbara real estate remains a market defined by its desirability, limited supply, and enduring appeal to both local and global buyers.

Want the full story?

Check out the full Santa Barbara Area Real Estate Report through July 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