The January 2023 real estate market in Carpinteria and Summerland was exceptionally active, with all 7 house sales occurring within 15 days of listing and Median Sales Price remaining steady at $1,500,000.

Activity in mid-January sparked multiple offers and quickly selling homes, contributing to the incredibly tight inventory levels with only 14 homes for sale as we enter February 2023.

Condos on the other hand saw a drastic decrease in sales activity in January, with only one sale taking place. This sale was priced at $750,000, and had been on the market for 138 days. There were also only seven condos for sale throughout the area, indicating an unusually low level of activity. Next week we'll take a closer look at what is happening in Montecito and Hope Ranch to get an idea of how the housing market is performing there.