Santa Barbara Real Estate: August 2021 Market Report
Here are Santa Barbara Real Estate Sales for the month of August 2021, using data straight from MLS, as compared YTD to Santa Barbara Real Estate Sales in August 2020:
The Santa Barbara Real Estate Market remains very hot, (e.g., aggressive.) Santa Barbara Real Estate Sales are still increasing, and giving sellers top dollar for their homes. Home values in Santa Barbara ca indicate they are not decreasing (or slowing down) because the median home price in Santa Barbara County (as evidenced below) continues to increase.
Here is a breakdown by area for Santa Barbara houses for sale:
Notes from Spann & Associates Realtors For Single Family Homes, the average home sale price in Santa Barbara (omitting Hope Ranch & Montecito) is now $1,953,463 which is up 35% from $1,446,804 in 2020. The Median Sales Price (again omitting Hope Ranch & Montecito,) is up to $1,551,000, which is up 29.8% from $1,195,000 in 2020. 225 homes in Santa Barbara were sold during the month of August 2021, and Cash Sales for those homes were at 41% (!!!)
What's interesting, is to look at how these stats compare YTD from last year...
Comparing August 2020 to August 2021, Total Active listings are UP 12.%, and New Listings are DOWN .5% - this is the low inventory we constantly refer to, which drives Buyer Demand UP (and therefore, keeps Selling prices high).
Another thing to note is the number of properties that went into Escrow during August 2021 is up 17.3%. And best of all, if you don't get anything out of this report, get this: The MEDIAN LIST PRICE in Santa Barbara IS UP ... from last year!
Take a look at the graph below. If you'd like to get more info on where the Santa Barbara real estate market is really headed, check out the 5 prime indicators HERE.
Why Spann & Associates? Because who you work with matters!
Our strategies yield 15% (or more) over asking price for sellers. For Buyers looking to acquire their dream property, it is common to be in a situation with multiple offers; in spite of such a competitive environment, our Buyers are still able to come through with the winning bid. Check our Property page to see our most recent listings and the data associated with the selling price/winning bids.
Our marketing gets higher returns for sellers, and our Buyers are actually able to come out ahead in bidding wars. Contact Spann & Associates, Santa Barbara's best Realtors, for more information on a specific property or issue, we know how quickly this market moves, and have aggressive strategies that win for both buyers and sellers.
Don't forget to grab your free resource!
[FREE BOOKLET] Santa Barbara Real Estate 101: How to squeeze every last dollar on your Home sale!
We are One Team, helping everyone to live the Santa Barbara Dream!