Welcome to our monthly real estate market update for Goleta, where we bring you the latest information on house and condo sales in the area. In this edition, we'll be focusing on the month of May and providing you with key insights into the current state of the market.

Houses in Goleta: As of the end of May, there were 11 active house listings in Goleta. This number represents a slight increase compared to the previous month but is relatively similar to the number of listings we saw at the same time last year. However, it's worth noting that there is still a significant shortage of homes in Goleta compared to what we used to see in the range of 40-50 active listings.

In terms of house sales, May saw a total of 15 closings. These properties didn't spend much time on the market, as they were sold within an average of 7 days. Furthermore, they fetched a remarkable 6% over the list price, indicating a high level of demand and competition among buyers. The median sale price for these homes was $1,560,000, which is on par with what we observed in May of the previous year.

Condos in Goleta: Moving on to condos, there were 10 active listings on the market at the end of May. This represents a slight increase compared to the previous month, but overall, it remains a relatively low number. Condo inventory in Goleta continues to be limited, which can impact buyers looking for this type of property.

Despite the limited supply, there were 7 condo closings in May, and similar to houses, they sold quickly within an average of 6 days. Buyers were willing to pay a premium for these properties, with the final sale prices averaging 3% over the list price. The median sale price for condos in Goleta during May was $1,120,000, which marked an increase compared to both the previous month and the same period last year.

In conclusion, the Goleta real estate market continues to experience a shortage of available homes and condos. Despite the limited inventory, both houses and condos are selling quickly and often above the list price, showcasing the high demand from buyers. The median sale prices for houses and condos remained steady or experienced a slight increase compared to last year, indicating a stable market.

If you're looking to buy or sell in Goleta, it's crucial to stay informed about the current market conditions and work with a knowledgeable real estate agent who can guide you through the process. As always, we'll be back next month with another market update to keep you up to date on the ever-evolving Goleta real estate scene.