February 2025

Santa Barbara Market Trends

Top 10 Monthly Trends

HIGHS

Home Sales Surge with Mid-Range Momentum:

Home sales climbed from 62 ($305.6M) in January to 72 ($235.6M) in February, with YTD sales up 32% (136 vs. 103 in 2024). The $2.25M-$2.75M range exploded from 3 to 9 sales, signaling a hot mid-range shift.

New Home Inventory Fuels Growth:

245 fresh listings hit the market YTD (133 Jan, 112 Feb), a 42.4% leap over 2024’s 172, driving total active listings to 342—up 35.7% from 252 in 2024.

Home Sales Accelerate:

Days on Market (DOM) shrank from 44 to 37 between January and February, showing buyers are acting faster as spring nears.

Condo Market Gains Traction:

Condo sales rose from 22 ($36.8M) to 25 ($38.3M), with YTD volume up 61.1% ($75.2M vs. $46.7M in 2024), driven by a $1.3M-$1.6M surge (1 to 7 sales).

Condo Medians Spike:

Condo median sold prices jumped 37.4% from $982,500 (Jan) to $1.35M (Feb), bolstered by a retreat from $5M+ sales (2 to 0).

Inventory Expands Across the Board:

Active listings grew from 178 (Jan) to 199 (Feb), while Condos edged up from 52 to 55—part of a broader YTD increase (342 SFRs, 111 Condos).

Seller Leverage Strengthens:

SFR Sale-to-List ratios rose from 93.96% (Jan) to 98.43% (Feb), and Condos from 96.26% to 99.06%, indicating buyers are paying closer to asking prices.

LOWS

Luxury Home Sales Soften Slightly:

The $5M+ bracket held steady (13 sales Jan, 12 Feb), but top-end prices dropped from $30M to $9.9M, hinting at a pause in ultra-luxury closings.

Home Prices Adjust Downward:

Median SFR sold prices fell 9.6% from $2.95M (Jan) to $2.67M (Feb), reflecting fewer high-end sales and a mid-range focus.

Pending Sales Show Mixed Signals:

Pending listings dipped from 76 to 69 (-9.2%), but Condo pendings ticked up from 28 to 29 (+3.6%), suggesting varied buyer confidence.

Curious about how these trends impact your plans?

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Stoeber Agency

At Stoeber Agency, we're dedicated to turning your property dreams into reality. With expert knowledge of the market and personalized guidance every step of the way, we help you buy, sell, or invest in properties with confidence and ease.

Experienced real estate professional with Local Market Knowledge

Access to Comprehensive Property Listings

Personalized Guidance Based on Client Needs and Goals

Transparent Pricing and Fees, Including Commission Structure

Thorough Assistance Throughout the Buying or Selling Process

Responsive Communication and Support for Client Inquiries

Frequently Asked Questions

How do you market properties to attract potential buyers?

Our marketing strategy is multifaceted, leveraging both traditional and digital channels to reach a wide audience. We utilize professional photography, virtual tours, and compelling property descriptions to showcase the unique features of each listing. Additionally, we employ targeted advertising campaigns on social media platforms and real estate websites to maximize exposure. By implementing strategic marketing tactics tailored to each property, we aim to attract qualified buyers or renters efficiently and effectively.

What should I consider when choosing a neighborhood for buying or renting a property?

Our valuation process involves a comprehensive analysis of various factors, including the property's location, size, condition, recent comparable sales in the area, current market trends, and any unique features it may possess. By carefully considering these factors, we provide accurate and competitive pricing recommendations to our clients.

Can you provide insights into current market trends and forecasts in the areas you serve?

The home buying or selling process typically involves several key steps. For buyers, these steps include pre-approval for a mortgage, property search, making an offer, negotiating terms, conducting inspections, securing financing, and closing the deal. Sellers should prepare by decluttering and staging their home, completing any necessary repairs or renovations, setting a competitive asking price, and working closely with their agent to market the property effectively. We guide our clients through each stage of the process, offering personalized support and expertise along the way.

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