Santa Barbara, CA 93101 Real Estate Market Report

ZIP Code: 93101
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Santa Barbara, CA (ZIP: 93101) is $1,351,813.5, reflecting a stable market environment. The neighborhood has shown a flat price trend, suggesting that while there is ongoing activity, significant appreciation has not occurred recently. This stability may indicate a balance between buyer and seller expectations, contributing to a neutral market temperature.

Transaction activity appears moderate, with elevated inventory levels relative to sales. The median days on market stands at 373, indicating a slower sales velocity, which may suggest that properties are taking longer to sell. Despite this, the luxury segment remains robust, supported by limited inventory and strong rental demand, as evidenced by a median market rent of $3,440.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Santa Barbara are averaging 6.38%, which is 0.3% higher than the 6.67% average seen a year ago.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $1,351,813.5 indicates a stable market, with no significant price appreciation recently.

2. With 373 days on market, properties are experiencing slower sales velocity, suggesting potential pricing friction.

3. The median listing price of $1,864,500 compared to the sold price indicates a gap that may affect buyer interest.

4. Elevated inventory levels suggest excess supply relative to sales activity, which may lead to increased negotiation power for buyers.

5. The median market rent of $3,440 is on the rise, reflecting strong rental demand in the area.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.