Market Update Summer 2021

Randy Solakian Estates Group

Summer 2021 Market Update 

Santa Barbara - Montecito - Hope Ranch 

June 1, 2021 - August 31, 2021

The strong seller's market continued throughout the summer. Low inventory and high buyer demand has decreased the number of days on market and driven up prices. Most homes are selling well above asking price with multiple offers. The high end market ($5 million and above) is particularly active with 46 closed sales between June 1 and August 31, 2021, compared to 31 closed sales for the same period in 2020. 

 

Santa Barbara market update: 161 sales, 12 days on market, $1,099,750 median price.Montecito market infographic showing sales, days on market, and median sale price.Hope Ranch market update: 16 units sold, 7 days on market, and a $7 million median sales price.

 

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