Statistics in this report are from Santa Barbara MLS (FlexMLS) data for single-family homes and PUDs on the South Coast (Santa Barbara, Montecito, Goleta, Carpinteria and Summerland). Duplicate MLS records are removed.
Happy February, although in light of the recent Los Angeles fires and the challenges still ahead, my foremost hope is that everyone's families, friends, and homes remain safe. My thoughts and prayers go out to all who are suffering.
It has been a busy start to the year. I currently have two active listings, and I am truly grateful for the buyers and sellers who entrust me with one of the most significant financial transactions of their lives.
Sales Up Sharply to Close Out 2024
Overall, the real estate market remains active. Year-over-year sales are on the rise, with December alone seeing 69 house and PUD sales on the South Coast compared to 48 the year before, an increase of about 44%. Prices stayed relatively flat or trended slightly upward: the December median was $1,950,000, compared to $1,912,500 in December 2023.
Read Local Statistics With Care
I urge caution when interpreting certain statistics. For example, recent Chamber of Commerce figures suggested Carpinteria's median sale price exceeded $5 million, down from $7.3 million the year before. That doesn't match what the MLS shows. According to Santa Barbara MLS data, the median sale price for Carpinteria houses and PUDs was about $1.88 million in 2024, up from about $1.6 million in 2023.
What the big numbers really reflect is a handful of ultra-luxury sales on Padaro Lane. Four Padaro Lane sales in 2024 totaled roughly $200 million, which nearly doubled Carpinteria's average sale price to about $6.3 million. Take Padaro out, and the average was about $2.5 million in both years. That's why the median, not the average, is usually the better gauge when a few outlier sales are in the mix. Carpinteria remains one of the more affordable and beautiful areas on the South Coast, and I would not want anyone to be misled.
December 2024 Market Snapshot
- Most Expensive Home Sold: $13,500,000 (770 San Ysidro Ln, Montecito)
- Least Expensive Home Sold: $875,000 (5106 Calle Real Unit B, Santa Barbara, and 6033 Suellen Ct, Goleta)
- Median Price Home Sold: $1,950,000
- Average Price Home Sold: $2,790,606
- Average Cumulative Days on Market: 59 days
As always, I wish you health, happiness, and prosperity in the coming year.
Cheers!
Curtis Swan II
(805) 607-9709
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