Santa Barbara, CA 93111 Real Estate Market Report

ZIP Code: 93111
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Santa Barbara, CA (ZIP: 93111) is characterized by a median sold price of $1,589,000, reflecting a stable market environment. The neighborhood has increased up since 2023, indicating a positive trend in property values. While the median listing price stands at $2,047,000, the notable gap between listing and sold prices suggests potential pricing friction as sellers adjust expectations to align with market realities.

Transaction activity is moderate, with median days on market reaching 323 days, indicating slower sales velocity. This extended time frame may suggest a shift towards more balanced conditions, as elevated inventory levels are observed relative to sales activity. Overall, the market appears to be transitioning towards a more buyer-friendly environment, with strong rental demand further supporting the local economy.

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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 0.29% higher than the 6.09% average seen in early 2026.

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. Median sold price is $1,589,000, reflecting a stable market with positive price trends since 2023.

2. Median listing price of $2,047,000 indicates potential pricing friction as sellers adjust to market conditions.

3. Median days on market at 323 days suggest slower sales velocity, indicating a shift towards more balanced market conditions.

4. Median market rent is $5,510, showing strong rental demand in the area.

5. Market temperature is neutral, suggesting a balanced environment with moderate transaction volume.

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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.