As spring rolls on, it's time to delve into the real estate market in the picturesque Carp/Summerland area. With low inventory and high demand, let's explore the latest happenings in April. From home sales to condos, we'll discuss the key trends and figures that shape this desirable coastal region.

Housing Market:

The number of homes listed for sale in Carp/Summerland increased slightly compared to the previous month, with a total of 12 listings available at the end of April. However, this still reflects historically low inventory levels. On a positive note, three homes successfully closed escrow during April, all within a remarkably swift 11-day period and fetching prices close to their listing values.

Interestingly, when comparing the current year to the same period in the previous year, there has been a notable shift. In April of last year, homes in Carp/Summerland were selling for nearly 10% over the list price. However, this year saw a significant decrease, with the median sale price at $1.46 million, substantially lower than the $3.8 million recorded last month.

Condo Market:

The condo market in Carp/Summerland also experienced limited inventory, although there was a slight increase from the previous month, bringing the total number of condos for sale to just five. This figure, however, still remains historically low, highlighting the demand for this type of property.

During April, four condo units were successfully sold, taking an average of 52 days on the market. These properties commanded prices nearly 3% over the listed price, indicating healthy competition among buyers. The median sale price for condos in Carp/Summerland during this period reached $783,000, which represents a slight increase compared to the previous month but a modest decline from the same time last year.

Looking Ahead:

As we move forward, it will be intriguing to observe how the Santa Barbara South County area, including Carp/Summerland, fares in May. Will the trends of low inventory and high demand continue? Stay tuned for our next update to find out.