DRE# 02117608Santa Barbara Monthly Real Estate Report Carpinteria - Goleta | July 2022
| July 2022 YTD | Total Sales 932 (-31% from 2021) Single Family Residences Sales 645 (-33% from 2021) Condominium Sales 287 (-28% from 2021) Cash Sales YTD 32% MARKET NUMBERSINREVIEW Goleta-Carpinteria
Median Sales Price - YTD $2,210,000 (+15% from 2021) Average Sale Price - YTD $3,447,209 (+11% from 2021) TitleChicago&TitleNationalFidelityfromis*Data Single Family ResidenceJuly2022 YTD Carpinteria - Goleta
Santa Barbara Total Sales 40 Average Sales Price $1,933,713 +12% change from July 2021 Median Sales Price $1,862,500 +24% change from July 2021 JULY2022
SingleCondominiumsFamilyResidence TitleChicago&TitleNationalFidelityfromis*Data Total Sales - YTD 268 Average Sales Price - YTD $2,590,868 Median Sales Price -YTD $2,200,000 Total Sales115-YTD Average Sales Prices $1,232,404 Median Sales Prices $965,000 Year To Date 2022
Montecito Total Sales 12 Average Sales Price $5,265,204 -16% change from July 2021 Median Sales Price $3,875,083 -15% change from July 2021 JULY2022
Total Sales - YTD 124 Average Sales Price - YTD $7,137,279 Median Sales Price -YTD $5,362,500 Total Sales -YTD 26 Average Sales Prices $2,695,269 Median Sales Prices $2,825,000 Single Family CondominiumsResidence Year To Date 2022 TitleChicago&TitleNationalFidelityfromis*Data
Hope Ranch Total Sales 3 Average Sales Price $16,166,667 +116% change from July 2021 Median Sales Price $18,150,000 +145% change from July 2021 JULY2022
TitleChicago&TitleNationalFidelityfromis*Data Total Sales - YTD 23 Average Sales Price - YTD $8,827,020 Median Sales Price -YTD $7,600,000 Single Family Residence Year To Date 2022
Goleta Total Sales 32 Average Sales Price $1,307,131 -10% change from July 2021 Median Sales Price $1,280,500 +21% change from July 2021 JULY2022
Single Family CondominiumsResidence TitleChicago&TitleNationalFidelityfromis*Data Total Sales - YTD 177 Average Sales Price - YTD $1,742,025 Median Sales Price -YTD $1,600,000 Total Sales -YTD 98 Average Sales Prices $920,947 Median Sales Prices $851,250 Year To Date 2022
TitleChicago&TitleNationalFidelityfromis*Data SingleCondominiumsFamilyResidenceTotalSales-YTD 43 Average Sales Price - YTD $2,402,540 Median Sales Price -YTD $1,615,000 Total Sales -YTD 45 Average Sales Prices $845,122 Median Sales Prices $815,000 Year To Date 2022
Summerland JULY2022 Total Sales 2 Average Sales Price $1,005,000 -72% change from July 2021 Median Sales Price $1,005,000 -72% change from July 2021
SingleCondominiumsFamilyResidence TitleChicago&TitleNationalFidelityfromis*Data Total Sales - YTD 10 Average Sales Price - YTD $2,940,500 Median Sales Price -YTD $2,050,000 Total Sales -YTD 3 Average Sales Prices $1,306,667 Median Sales Prices $1,075,000 Year To Date 2022
Some Charts That After two years of above trend (yellow line) home price appreciation, look for more of a sideways to slightly lower home prices increases over the next 6-18 months. Your monthly mortgage payment stays roughly the same when the market pulls back 10%, and the interest rate on your mortgage goes up by 1%. It is time in the market, not timing the market. Home Price $1,250,000 Home Price $1,125,000 ( -10%) Home Price $1,000,000 (-20% from high) 20% down payment 20% down payment 20% down payment 3% interest rate 4% interest rate 5% interest rate $4,216 monthly payment $4,296 monthly payment $4,294 monthly payment *monthly payments are principal and interest - you would need to add taxes and insurance
Caught My Eye…Housinginventory has increased since March, but the chart explains how tight inventory still is. Many people have locked in +/- 3% mortgages rates and they aren’t going to be selling - artificially keeping housing supply low The supply of new housing units built since 2008, has been under the average. 72 million millennials have enter the home buying stage. This is one of a few reasons, supply will stay low and I don’t expect a huge pullback in home prices
For more information please visit my website below www.caleboverton.com July ’22 Santa BarbaraRealEstate Market Report I have some creative ways to help you get top dollar for your home. Let’s start a conversation!
Santa Barbara Real Estate Agent DRE# 02117608Caleb Overton
