April Market Update

May 16, 2025

April Market Update: How is the Market?

It's a question we hear often, and the current financial uncertainty can naturally make both buyers and sellers thoughtful. Here in our market, which encompasses South Santa Barbara County (including Carpinteria, Summerland, Montecito, Santa Barbara, Hope Ranch, Goleta, and the Gaviota Coast), we're seeing continued strength. We're keeping a close eye on the data and are always available to discuss your specific real estate goals.

Looking at the year-over-year figures through April 2025 for South Santa Barbara County, we've seen:

* A 14% increase in total sales

* A 19% rise in the median single-family home price

* A 27% increase in the median condo sale price

Key insights also include:

* 2.72 months of inventory – still indicating a seller's market.

* 15 median days on market – while some properties take longer, desirable homes are still moving quickly, often with multiple offers within a week.

* A 96.2% sale-to-original list price ratio – showing that even in a seller's market, buyers retain some negotiating ability.

For context, Redfin's national report indicates:

* A 4% decrease in home sales year-over-year.

* A 5% increase in the median price.

* An increase in median days on market to 39, with 3.2 months of inventory (it's worth noting that this is still historically low, with a balanced market typically considered to be around 6 months of inventory).

Location remains a significant factor, and many individuals still have the flexibility to choose where they live and work remotely or creatively. While Santa Barbara South County isn't untouched by broader market trends, our local data underscores the importance of location and highlights that local statistics are the most valuable when making real estate decisions.

We’re always here to help you navigate your personal real estate plans and goals strategically.

This report is based on data and sources believed to be reliable, but we do not guarantee their accuracy or completeness. Market conditions and trends are subject to change, and past performance is not indicative of future results. Always consult with a licensed real estate professional, financial advisor, or legal expert before making any investment decisions or entering into any real estate transaction.