The real estate market in Santa Barbara is one of the most competitive and lucrative in the state of California. With its picturesque location and high quality of living, buyers are constantly vying for a piece of this paradise. As we are midway through the year, let's take a look at some of the statistics and trends that have been observed in the Santa Barbara real estate market for the month of June.

Let's begin by looking at the housing market. As of June 30th, there were 56 active home listings in Santa Barbara, which is a significant increase from 39 listings in the same period last year. This increase is a sign of growth in the market and is a positive indicator for buyers and sellers. However, the inventory is still relatively low compared to demand, and it continues to be a seller's market.

In June, there were 33 house sales in Santa Barbara, and these homes were sold within a median of 16 days on the market, which is an impressive turnaround for the sellers. The homes were also sold for approximately 1% over the list price, which is a testament to the competitiveness of the market. The median sale price for a home in Santa Barbara was $2,500,000, an increase of around $250k from last year.

Now, let's look at the condo market. As of June 30th, there were 9 active condo listings in Santa Barbara, which is the same as last year. The number of listings has increased since last month, which is a good indication for buyers. In June, there were 14 condo sales, which were sold within 9 days on the market, and they sold for approximately 1.4% over the list price. This indicates a highly competitive market with buyers willing to pay over the asking price to secure a home. The median sale price for a condo in Santa Barbara was $1,125,000, an increase from both last month and last year.

Overall, the Santa Barbara real estate market continues to be highly competitive with low inventory, high demand, and homes selling for over the asking price. Buyers need to be ready to act fast and strategically in order to secure their dream home. While it is a seller's market, sellers must still ensure their properties are priced appropriately to take advantage of the market trend.