As the calendar turned to October, the real estate market in Santa Barbara continued to see dynamic changes, and in this month's update, we'll take a closer look at the key statistics for both houses and condos in the area.

Housing Market Overview:

Active Listings: At the end of October, there were 84 active house listings in Santa Barbara. This number is slightly lower compared to the previous month but significantly higher than the same time last year. The increase in active listings indicates a growing supply of houses on the market.

Sales Activity: A total of 36 houses were sold during the month of October. Interestingly, these homes sold relatively quickly, spending an average of just 28 days on the market. Moreover, they fetched slightly higher prices than their listing prices, signaling strong demand in the region.

Median Sale Price: The median sale price for houses in Santa Barbara in October was $1,950,000. While this figure is lower than both the previous month and the same period last year, it's still a substantial value, demonstrating the market's overall stability and attractiveness.

Condo Market Overview:

Active Listings: For condos, there were 18 active listings at the end of October. This represents an increase compared to both the previous month and October of the previous year, indicating a growing supply of condos in the market.

Sales Activity: In October, 11 condos were sold, and these properties flew off the market quickly, with an average time on market of just 11 days. Notably, condos sold at around 2% above their list prices, revealing a strong demand for this property type.

Median Sale Price: The median sale price for condos in Santa Barbara during October was $940,000. While this figure is slightly lower compared to the previous month and last year, it still represents a healthy price point for prospective condo buyers.

Santa Barbara’s real estate market remains active and resilient, with promising opportunities for both buyers and sellers. It's important to keep an eye on market dynamics and consult with a real estate professional for the most up-to-date insights and personalized advice in this ever-changing landscape. As we head into the fall season, the market continues to offer a dynamic environment that is worth exploring.