Santa Barbara Housing Market Update April 2025

Santa Barbara Housing Market Update April 2025

Inventory is Up, but the Playing Field is Shifting

The spring market picked up pace in April, bringing more listings, more movement, and some clear signs of shifting expectations.

This month’s highest sale was an off-market estate on Hot Springs Road in Montecito, which closed for $11,000,000. On the other end of the spectrum, the lowest sale was a $700,000 condo in Goleta.

Monthly sales increased 14% to 127 sold listings, with 3.38 months of supply now on the market. Increasing inventory gives buyers more options and nudges us closer to a balanced landscape. That said, there is a clear split between the listing that are keeping up with our shifting market and those getting left behind. 

Move-in-ready homes are trending to sell quickly, often with strong terms, while homes that need cosmetic work or homes priced unrealistically are being overlooked. Today’s buyers are hesitant to pay a premium and then invest additional time and money into improvements. With more inventory on the market, they have choices and they’re taking their time.

Many sellers are still expecting the fast-paced, ultra-competitive market of recent years. But without investing in presentation and pricing strategically, homes are sitting longer and the longer a home sits, the more the market begins to discount its value. A stale listing quickly develops a reputation. Momentum matters. We lose negotiating power when it’s gone. The strongest results come when we launch with intention and negotiate from a position of traction, not recovery.

Single Family Homes: Activity is Up, Buyer Psychology Has Shifted

  • Total Sales: 94 homes sold in April 2025 vs. 87 in April 2024 (up 8%)

  • Median Sales Price: $2,175,000 (down 4% year-over-year)

Condos: Sales Climb as Buyers Seek Value

  • Total Sales: 33 units sold this April vs. 24 last year (up 38%)

  • Median Sales Price: $1,049,000 (down 3% year-over-year)

Market Snapshots by Area

Carpinteria

  • Single Family: $1,830,000

  • Condo: $906,750

Goleta

  • Single Family: $1,825,000

  • Condo: $1,045,250

  • Lowest Sale in South SB: $700,000 for a 2 bedroom, 1 bath condo

Montecito

  • Single Family: $5,975,000

  • Condo: $2,317,500

  • Highest Sale in South SB: $11,000,000 off-market estate on Hot Springs Road

Santa Barbara

  • Single Family: $2,127,120

  • Condo: $1,049,000

Hope Ranch

  • Single Family: $4,495,000

Summerland

  • Single Family: $1,750,000

Market Dynamics: The Edge Belongs to Those with a Plan

  • 20% of homes sold over asking

  • 35% of sales were all cash

  • 97% average sold-to-list price ratio

Final Thoughts

In 2021 and 2022, it wasn’t uncommon to see 90–100% of homes selling at or above asking price. As a seller, you could name your price and expect results. As a buyer, you were often paying as much as you could(sometimes hundreds of thousands over asking) just to win the deal.

Today, the advantage belongs to those who approach the market with a clear plan and smart strategy. Sellers who understand that pricing is the number one marketing tool are the ones creating momentum and still receiving strong offers. Buyers who are tuned into the data are finding opportunities, whether that means planning when to engage an overpriced listing or coming in strong and dominant to win a competitive listing. 

Our spring market has been rewarding to those with insight and execution. There are opportunities out there, but they aren't always obvious.  Whether you're considering selling or looking to buy something that feels like a win, I'm here to help you navigate every step with clarity, strategy, and experience.


 

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