December '24 Santa Barbara Real Estate Newsletter

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| www.CalebOverton.com | DRE# 2

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CalebOvertonSB@gmail.com |

MARKET NUMBERS IN REVIEW

| December 2024 YTD | (+ % from

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Single Family Residences Sales 894 (+ Condominium Sales 339 (+ % from Cash Sales Dec. 37%

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Cash Sales YTD 41%

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Carpinteria - Goleta

Total Sales

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Single December 2024 YTD Average Sale Price - YTD

$3,509,152 (10% from 2023) Median Sales Price - YTD

$2,172,130 (3% from

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*Data is from Fidelity National Title & Chicago Title

Carpinteria - Goleta

Santa Barbara

December 2024 Total Sales Average Sales Price $

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-8% change from Dec

Median Sales Price $ 3

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% change from Dec 5

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Year To Date Single Family Residence Total Sales - YTD

429 Average Sales Price - YTD

Median Sales Price -YTD

$2,490,110

$2,140,000

Condominiums Total Sales -YTD

129 Median Sales Prices

$1,281,150

$1,085,000

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*Data is from Fidelity National Title & Chicago Title

Average Sales Prices

Montecito

December

Total Sales

Average Sales Price $ +

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- % change from Dec 1

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% change from Dec.

Median Sales Price $ 5

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Year To Date Single Family Residence Total Sales - YTD

145 Average Sales Price - YTD

Median Sales Price -YTD

$7,602,453

$5,550,000

Condominiums Total Sales -YTD

18 Median Sales Prices

$3,783,092

$3,212,500

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*Data is from Fidelity National Title & Chicago Title

Average Sales Prices

Hope Ranch

December

2024 Total Sales

Average Sales Price $5,350,000 N/A change from Dec

Median Sales Price $5,350,000 3

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N/A change from Dec.

Year To Date Single Family Residence Total Sales - YTD

17 Average Sales Price - YTD

$6,259,993 Median Sales Price -YTD

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*Data is from Fidelity National Title & Chicago Title

$6,053,000

Goleta

December

2024 Total Sales

Average Sales Price $

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Median Sales Price $ 0

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+ % change from Dec

Year To Date Single Family Residence Total Sales - YTD

240 Average Sales Price - YTD

Median Sales Price -YTD

$1,837,995

$1,622,500

Condominiums Total Sales -YTD

129 Median Sales Prices

$1,035,987

$942,000

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*Data is from Fidelity National Title & Chicago Title

Average Sales Prices

Carpinteria

December

2024 Total Sales

Average Sales Price +

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% change from Dec

Median Sales Price +

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% change from Dec

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Year To Date Single Family Residence Total Sales - YTD

51 Average Sales Price - YTD

Median Sales Price -YTD

$7,351,386

$2,000,000

Condominiums Total Sales -YTD

62 Median Sales Prices

$1,016,566

$840,000

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*Data is from Fidelity National Title & Chicago Title

Average Sales Prices

Summerland

December 2024 Average Sales Price

Total Sales

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N/A% change from Dec

Median Sales Price

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N/A% change from Dec

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Year To Date Single Family Residence Total Sales - YTD

12 Average Sales Price - YTD

Median Sales Price -YTD

$3,675,750

$3,182,500

Condominiums Total Sales -YTD

1 Median Sales Prices

$999,999

$999,999

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*Data is from Fidelity National Title & Chicago Title

Average Sales Prices

Charts That Cau

Source: Keeping Current Matters

Source: Keeping Current Matters

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Source: Keeping Current Matters

Source: Keeping Current Matters

What does the market look like?

Looking Ahead: Support and Rebuilding in the Wake of LA's Tragedy As we close out 2024 and turn our attention to 2025, we cannot ignore the devastating fires that have torn through Los Angeles. Our hearts are heavy for everyone affected by this tragedy. Our thoughts are with the families, businesses, and communities that have lost so much.

In the wake of these heartbreaking events, we've seen an outpouring of support from all over, especially here in Santa Barbara. Many of our friends and family in LA have reached out, looking for rentals and homes to purchase. It has been truly inspiring to see people open up their homes—offering extra bedrooms or rental properties to help those in need. The scale of the disaster means that it will take all of us to make a difference.

As the situation continues to unfold, we anticipate different phases of recovery. Many businesses, schools, and homes have been destroyed or severely damaged. Yet, the response from the community has been nothing short of extraordinary, with individuals and organizations coming together to provide food, water, shelter, and muchneeded supplies.

A reminder: Price gouging during natural disasters is illegal. Landlords can only increase rental rates by up to 10%. Please be vigilant and report any unjust practices during this difficult time.

Looking ahead, we expect many individuals and families affected by the fires to consider relocating. Some may stay within the Los Angeles area, while others may seek new communities further up and down the coast, from San Diego to Santa Barbara. Early indications suggest that the rebuilding process could take anywhere from 3 to 8 years, so it’s likely we’ll see an influx of relocations to our region in the near future.

A Call to Action for Home Sellers If you’ve been "considering" selling your home in the next 3, 6, or 12 months, we encourage you to think about moving that timeline forward—if possible. This is not about taking advantage of the situation, but rather about providing much-needed housing for families who have lost everything. If you were already planning to sell, now might be the time to consider opening your doors to those who need stability and support—especially those with young children who need a steady school and community environment.

Our collective efforts, no matter how small, can make a profound difference. Imagine what you would need if the roles were reversed, and you found yourself rebuilding your life and home from the ground up. Every bit of support counts.

I’d be more than happy to chat and share what we are doing at Berkshire Hathaway to assist those in need.

Together, we can make a real impact.

All my best, Caleb Overton

For more information please contact me below | CalebOvertonSB@gmail.com | www.caleboverton.com

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Monthly Market Report

Santa Barbara Real Estate Agent

Caleb Overton

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DRE#