Q4, 2024 - South Santa Barbara County Sales
Overall Market
- Total Sales: 1,240 transactions, totaling $3.4 billion, up 22% from 2023.
- Average Price: The average sales price rose to $2.8 million, and the median price increased to $1.71 million.
- Active Listings: 1,901 listings, reflecting a 13% increase in inventory.
- Days on Market: Homes sold in an average of 38 days, slightly longer than 2023.
Key Takeaways
- The luxury market, is thriving with significant demand for homes over $10 million.
- The broader market saw steady growth, with more listings and slightly longer time on market.
- Hope Ranch remains a prestigious area, though without the same high-end transactions seen in Montecito.
Looking ahead to 2025, the market continues to show strength, with luxury properties leading the charge.