Santa Barbara, CA 93111 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

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.

Market Trends & Context

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

Key Findings

1. $1,389,000 median sold price is the most reliable indicator of current market value in 93111 and suggests recent transaction prices are moderating around this level; given the relatively constrained active supply in the analyzed sample, this median sold price appears to represent a representative recent sale for SFR and condo segments.
2. There is a meaningful gap between $2,095,000 median listing price and the $1,389,000 median sold price, which may indicate seller price expectations exceed recent transaction levels and could produce pricing friction during negotiations.
3. With a 275 median days on market, sales velocity is slow relative to typical hot markets and may reflect extended marketing periods or higher buyer selectivity; combined with neutral market temperature and relatively constrained active supply, this suggests opportunities for buyers to negotiate while sellers should emphasize pricing and condition to reduce time on market.
4. Price dynamics show a positive direction—price year-over-year trend is up—but interest rate pressure is moderate (current local 30-year fixed rates around 6.6%), so expect continued, moderate appreciation rather than rapid gains; investors and agents should price listings to reflect both rising rents (median market rent $4,500) and interest-rate sensitivity to maintain transaction momentum.

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.