The southern Santa Barbara’s real estate market offers a fascinating glimpse into the dynamic interplay of zip codes, neighborhoods, and trends that shape this coastal gem. Backed by insightful data from Altos Research, this blog post dives into the nuanced details of housing market performance in the region, exploring patterns that define both its charm and investment potential.
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In 2024 the southern Santa Barbara real estate market saw a 16% increase in inventory. The number of new listings for the southern Santa Barbara real estate market in 2024 was 1,169, up from 1,009 in 2023. With nearly 100 homes listed each month, on average, 70 homes sold each month with the strongest sales in the summer.
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The 40th Annual Santa Barbara International Film Festival is rolling out the red carpet Tuesday, February 4th – Saturday, February 15th, 2025
For four incredible decades, SBIFF has been a premier destination for cinephiles, bringing together the best in independent and international cinema. Ranked among the Top 10 Film Festivals in the U.S., SBIFF transforms the stunning seaside city of Santa Barbara, California into a cinematic paradise—just 90 minutes north of Los Angeles!
11 Days
200+ Films
Exclusive Tributes & Symposiums
100,000+ Attendees
Unforgettable Celebrity Moments
Beyond the films, SBIFF is an unparalleled opportunity to network with top-tier filmmakers, industry insiders, and award-season contenders. Whether you’re an aspiring filmmaker, a passionate movie buff, or just love being part of the Hollywood magic, this festival is the place to be.
Star-Studded Lineup for 2025
Get ready to see some of the biggest names in Hollywood! This year’s highly anticipated guests include:
Angelina Jolie (Maria)
Ralph Fiennes (Conclave)
Zoe Saldana & Selena Gomez (Emilia Perez)
Timothée Chalamet (A Complete Unknown)
Colman Domingo (Sing Sing)
Kieran Culkin (A Real Pain)
Ariana Grande (Wicked)
Adrien Brody & Guy Pearce (The Brutalist)
Whether you’re here for Oscar-worthy performances, groundbreaking storytelling, or just the electric atmosphere, SBIFF 2025 promises to be an unforgettable cinematic experience.
Tickets & More Info: www.sbiff.org
See you in Santa Barbara!
For more information, links, and images click Read More below.
Nearly a hundred thousand Los Angeles County residents are still under evacuation orders as of Monday, January 13, and with more than 10,000 homes, schools, or other structures completely destroyed by fires from Pacific Palisades to Altadena to Sylmar, many are seeking refuge just up the coast in Santa Barbara.
Personal accounts posted on social media show frantic families packing their cherished belongings into cars and looking for anywhere safe. As evacuation centers in Los Angeles began to rapidly fill up, some jumped on Highway 101 northbound to find shelter on the Central Coast.
By the weekend, Santa Barbara hotels were filling up with people affected by the Los Angeles wildfires. On Saturday, Visit Santa Barbara announced a special lodging rate for evacuees at 25 different locations, with some offering 25-30 percent discounts or rooms for prices as low as $129 per night.
Click Read More below for links to the full stories
To our friends and neighbors affected by the recent devastating fires in Los Angeles, Santa Barbara extends a warm and heartfelt welcome to you. We understand the challenges you’re facing and want you to know that you are not alone.
Click Read More below for information on rentals and hotels in Santa Barbara and Montecito.
In this post we will address some of the pros and cons of Rent Control and how reforming Proposition 13 could help California’s current housing crisis. Proposition 33 aimed to repeal the Costa-Hawkins Rental Housing Act which currently limits the scope of rent control in California. On November 5, 2024 Californian voters voted 60% to 40% against the passing of Proposition 33.
Home prices in Santa Barbara continue to fluctuate, presenting a mixed picture for buyers and sellers. While the median listing home price currently averages around $2.6 million, data from Zillow indicates that home values have increased overall by 7.2% over the past year. This rise, however, comes with neighborhood variations in values. Prime neighborhoods with homes in excellent condition, priced realistically, are moving. Homebuyers taking part in this market should brace themselves for possible bidding wars, particularly in the better neighborhoods. August sales in 2024 were up from the same time in 2023.
For more detailed information click Read More below.
The recent changes to real estate commission rules, which took effect on August 17, 2024, significantly alter how commissions are structured in real estate transactions. Historically, home sellers were required to pay commissions for both their listing agents and the buyer’s agents, typically resulting in total commission rates of around 5-6%. However, due to a recent settlement involving the National Association of Realtors (NAR), this requirement has been removed, allowing for more flexibility and competition in commission negotiations.
Click Read More below for Key Changes with the new law and Video to help better explain the potential impact.
The Santa Barbara real estate market trends for 2024 have been admirable. In the first half of the year, there were 625 sales, a 12% increase compared to last year. While single-family detached homes accounted for 446 homes sold, reflecting a 15% increase over the same period as last year, condominiums and townhomes accounted for 179 homes sold, a 7% increase.
The average sales price for single-family detached homes rose by 14% to $3,714,928 while the median price rose by 7% to $2,250,000.
The average sales price for condominiums decreased by 3% to $1,135,143 and the median price rose 5% to $975,000.
In the second quarter of this year, all cash sales made up 42% of all sales, a 2% increase from the same period last year.
Inventory supply has picked up. The inventory supply has climbed to its highest level since 2020. Sitting at just over 3 months. Source: Fidelity National Title Company.
Click Read More below for charts, graphs, and video
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