Real Estate Market Update for Santa Barbara for September - Starting with homes. The number of active listings is 137,  higher than last month and last year. There are 40 closings for September which is lower than last month and last year. The median sale price for homes has shown a slight decrease, going from $2,350,000, lower than last month but 35% higher compared to last year. The sale price to list price ratio is at 97.8% and properties are sold within 32 days on the market. So inventory is still low, and prices have mostly stabilized. Homes are taking a week longer to sell and we are seeing less overbidding but sellers as a whole aren’t taking massive haircuts on their price. 

Now, turning our attention to condos. Active listings for condos are at 21 which is higher than last month and last year. There are 13 properties sold, and the median sale price for condos is at $1,250,000.  The sale price to list price ratio for condos is at 103.25% which is higher than last month and last year. Condos are selling faster at an average of 8 days on the market. The condo market is holding a little stronger, but this sector is also seeing a sold faster on the market. Overall both property types in Santa Barbara are still heavily in the seller's favor. 

Come back next week to get the latest on Goleta.