Here are the latest Real Estate Market Reports for South Santa Barbara County for March 2022 that include Montecito and Hope Ranch.
We had a solid first quarter in 2022 with this quarter being the 3rd best quarter in regards to the number of sales within the last 20 years of data. Condo sales are also enjoying the 3rd best quarter in 20 years.
The March median sales price is $2,210,000, down from February's incredible $2,650,000 median sales price.
From our weekly Compass Office meeting:
Active listings are down 26% from this time last year, and that's where the challenge begins for buyers.
Total Inventory as of 4/12 is 97. Last week was 99 and of those 99, 45 units were listed at $5 million and over!
New Listings: 45, last week 34
Pending: 48, last week 41
Closed: 28, last week it was 42
Back on Market: 6
