“How’s the market?”
It depends on who's asking.
The market isn’t one monolith, it’s a mix of micro-markets defined by location, price point, inventory, and timing. From a $2M buyer in Santa Barbara to a $7M seller in Montecito or a land investor in Hope Ranch, every corner of the market tells a different story. Let’s break down what the latest numbers really mean.
Big Picture
Across South Santa Barbara County, prices have shown steady upward momentum. The average sale price in 2025 is over $3M, with the median sitting just under $2M, both up year-over-year. This isn’t an anomaly, it’s part of a 35-year trend of long-term appreciation, with some expected dips along the way (2008, 2012, 2020).
Montecito
Buyers continue to pay a premium for turnkey, well-located homes. Sellers who price well are still seeing movement, sometimes with multiple offers. That said, buyers are cautious and value and presentation matter.
- YTD 2025 average price: $6.6M
- YTD 2025 median price: $5.65M
- Price Growth: Median price is up 5% compared to last year
Hope Ranch
Hope Ranch is one of the most dynamic segments in the luxury market right now. A handful of strong sales pushed prices higher at the top of the market, reflecting renewed confidence in the area’s long-term appeal.
- YTD 2025 average price: $7.94M
- YTD 2025 median price: $7.25M
- Both figures are up nearly 20% from last year.
Sales Volume
Looking at resale activity county-wide, 2025 is tracking close to 2024, with May showing 125 total transactions, which is only slightly off from previous years.
What does this Mean for You?
SELLING? Today’s buyers are selective. Pricing with precision and presenting your home at its absolute best isn’t optional, it’s what gets results.
BUYING? The right opportunity is out there, but it takes timing, neighborhood insight, and the ability to move when it counts.
ON THE FENCE? This market rewards clarity. Real estate isn’t one-size-fits-all. Your next move should be based on your goals, your timing, and your property.
weekly spotlight
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