Sales picked up pace this month, and condos led the charge. Homes across South Santa Barbara County sold for an average of 98.4% of list price in July, up from 97.9% a year ago. Total sales climbed 9% year-over-year, with condo sales jumping 18% while single family sales grew a more modest 6%.
Cash buyers held steady at over a third of the market, and inventory stayed tight, a combination that continues to favor sellers who price with intention.
Here's the whole picture:
Highs and Lows of the Month's Sales
Highest Sale (off market): 1421 Wyant Rd in Montecito closed at $18,500,000
Lowest Sale: 5518 Armitos Avenue Apt 86 in Goleta closed at $590,000
Sales Trends and Cash Transactions
Total Sales: 131 closings (up 9% YoY)
Single Family Homes: 91 sold (up 6%)
Condos/PUDs: 40 sold (up 18%)
Cash Sales: 35% of all transactions
Sale-to-List Price Ratio: 98.4% countywide (up from 97.9% in July 2025)
Cash remains a steady presence in this market. It's not that buyers are indifferent to financing costs, it's that the ones who can pay cash are using it as leverage in a market that still rewards decisiveness. And with homes closing right around asking on average, this isn't a market where buyers are finding much room to lowball. Well-priced homes are holding their number.
Average Days on Market
Single Family: 40 days
Condos/PUDs: 25 days
Inventory
3.06 months of supply. Nearly unchanged from earlier this year, and still well under the six-month mark that would signal a true buyer's market.
Pricing Snapshot
Single Family Homes:
Average Price: $3,361,886 (down 15% YoY)
Median Price: $2,200,000 (down 9% YoY)
Condos/PUDs:
Average Price: $1,118,039 (up 3% YoY)
Median Price: $1,035,000 (up 16% YoY)
Here's the nuance: Single family pricing looks softer on paper, but the story isn't a cooling market, it's a shift in what's closing. Montecito, which anchors the county's high end, saw single family sales volume down sharply year-to-date, even as this month's $18.5M sale on Wyant Rd shows the top of the market is still very much alive. Meanwhile condos are quietly outperforming: both average and median price are up, and sales volume rose 18%, pointing to real, broad-based demand rather than a handful of outlier deals.
Market Stability & What's Ahead
Inventory has held steady all year. New listings are up from last year, but this isn't a market being flooded with new supply. It's one where well-priced homes keep finding buyers, but the wrong strategy will leave a listing stale.
For sellers: Condos that are priced right continue to be favored in our market. For single family homes, positioning matters more than list price alone. Buyers are still there for the right home, but they have more options to pick from now. Making sure your listing stands out is the best path to success.
For buyers: With inventory still tight, hesitation costs opportunity. More active listings give you more options, but that doesn't mean there isn't competition (15% of homes are still selling over asking).
In general: Goleta and Carpinteria are the two most competitive markets by this measure, with over a third of their sales going above asking. Montecito is the clear outlier on the other end: fewer than 1 in 10 Montecito sales close over list price.
If you want to talk through what this means for your home or your search, I'm always here to help!
