While there are signs of a slight slowdown in the Santa Barbara real estate market in recent months, the overall numbers for the first half of 2025 indicates a similar level of activity that we witnessed in the same period last year.  The Riviera/Eucalyptus Hill/El Cielito neighborhoods produced 40 sales which was identical to the first half of 2024, however there was a somewhat surprising 5% increase in the median price to $3,250,000. 

A more detailed analysis of the stats illustrates that the median price increase is a result of a slight shift in the sales at various price points rather than an overall property value uptick.  A closer look at the price categories shows an identical number of sales at the mid-range level of $3 to $6 million where most properties change hands.  The only difference between the two years is that there was one less sale in the $1 to $3 million category and one more sale in the luxury segment of the market, over $6 million.  Another interesting observation is that the last time the median price reached the level of $3,250,000 was in the first half of 2022.  Since that time, it has vacillated up and down, however the key takeaway is that prices have hit a level plateau in the last 3 years. 

As mentioned earlier, there are signs of a slight slowdown in the Santa Barbara market, however my take is that this is more of a perception than reality.  The inventory has increased to levels we haven’t witnessed in a few years, and there are several listings that have lingered on the market for months which is indicative of a slower market.  On the other hand, there are still a healthy number of properties that sell quickly and, in some cases, attract multiple offers.  The listings that are positioned properly and marketed aggressively are still performing well in the current market.  Feel free to contact me for a consultation regarding any of your real estate needs or questions.