The Santa Barbara real estate market has been enjoying a historic run in home values over the last couple of years. Santa Barbara real estate has become a luxury commodity and despite rapid appreciation, demand remains intact as we head toward the end of the year.
2022 Market Overview
- Median Home Value: $1,751,365
- Median List Price: $2,100,000 (-7.1% year over year)
- 1-Year Appreciation Rate: +31.1%
- New Listings: 302 (-21.4% year over year)
- Active Listings: 350 (-26.1% year over year)
- Homes Sold: 262 (-21.3% year over year)
- Median Days On Market: 26 (-10.0 year over year)
- Median Rent: $2,401
- Price-To-Rent Ratio: 60.71
- Unemployment Rate: 3.5% (latest estimate by the Bureau Of Labor Statistics)
- Population: 446,475 (latest estimate by the U.S. Census Bureau)
- Median Household Income: $78,925 (latest estimate by the U.S. Census Bureau)
Many of the Santa Barbara real estate market trends in 2022 reflect broad national trends and it should be noted that the Santa Barbara real estate market trends may be more exaggerated due to significant supply and demand constraints.
Source: Fortune Builders
Market Trends for Santa Barbara January 2013 – October 2022
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