Santa Barbara Real Estate Statistical Update :: January 2020

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Real Estate Broker/Owner with Distinctive Real Estate 01304471
Santa Barbara Real Estate Statistical Update :: January 2020
 
Single Family Homes Sold +14%
96 in Jan 2020 vs. 84 in Jan 2019
 
Single Family Median Sales Price -0.3%
$1,302,500. in Jan 2020 vs. $1,307,000. in Jan 2019
 
Single Family Average Sales Price -26%
$1,687,451. in Jan 2020 vs. $2,265,486. in Jan 2019
 
Condos Sold -11%
33 in Jan 2020 vs. 37 in Jan 2019
 
Condo Median Sales Price -1%
$740,000. in Jan 2020 vs. $749,000. in Jan 2019
 
Condo Average Sales Price +8%
$829,121 in Jan 2020 vs. $767,959. in Jan 2019
 
Inventory
Inventory remains at historical lows with just 3.23 months of supply in January. Inventory began tightening up in November when we had 3.77 months of supply, December had 3.19 months of supply. It had been in the 4-5 months of supply range for the majority of 2019. Inventory is especially tight under $2,500,000.
 
Price Reductions
There were 106 price redeuctions in January. This is a dramatic increase over December with 63 price reductions which had been the the lowest level for all of 2019. The majority of 2019 hovered between 100-200 price reductions per month.
 
Days on Market
80 days for single family homes
65 days for condos.
This has been very consistent through all of 2019
 
Of the 129 sales of homes & condos sold in January, 51or 39.5% were below $1,000,000. This has also been relatively stable all year.
 
 
 

 

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