Real Estate Market Update for Goleta - Houses first. This week we are covering the year to date stats versus the monthly data to get a little different perspective of what’s going on in the market year over year.

Active listings have decreased by 27% over last year and closings are down by 41%. The YTD median sale price for homes is down 8%, going from $1,543,750 in 2022 to $1,425,000 in 2023. While prices have dipped, they still remain relatively robust. The sale price to list price ratio has decreased by 4%, from 107% in 2022 to 103% in 2023, and the median days on the market for homes have decreased from 22 days in 2022 to 15 days in 2023, marking a 7-day acceleration. Homes are selling faster, suggesting an active and competitive market.

Now, turning our attention to condos, we observe a similar trend. Active listings for condos have decreased by a substantial 44% and closings have seen a 48% drop, declining from 64 in 2022 to 33 in 2023. The median sale price for condos has dipped by 4%, going from $767,500 in 2022 to $740,000 in 2023. Prices have softened slightly, although they remain competitive. The sale price to list price ratio for condos has maintained at 103%. However, the median days on the market for condos have increased from 11 days in 2022 to 18 days in 2023. Come back next week to get the latest on the luxury markets Hope Ranch and Montecito.