Santa Barbara, CA 93111 Real Estate Market Report

ZIP Code: 93111
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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.

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Key Findings

1. The neighborhood’s primary market indicator, the median sold price of $1,599,000, anchors recent transaction value and suggests realized buyer willingness to pay below typical asking levels, given the median listing price of $2,195,000, which appears to indicate pricing friction between seller expectations and closed sales.

2. The median days on market of 300 signals materially slower sales velocity and lower liquidity than would be expected in a hot market, which may indicate that sellers should expect extended marketing timelines and buyers may secure negotiation leverage; the overall market temperature remains neutral.

3. With the price year-over-year trend listed as down while rent year-over-year trend is up, and interest rate pressure characterized as moderate, investors should weigh stronger rental fundamentals against softening sale prices—considering longer hold periods or rental strategies where suitable given rising rents and a balanced sales environment.

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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.

Santa Barbara, CA 93111 Real Estate Market Report

ZIP Code: 93111
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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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.

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Key Findings

1. The neighborhood's primary market indicator, the median sold price, is 1,075,000, which represents the most representative recent sale level from the analyzed sample and anchors local valuation; price momentum is down, suggesting softening at the top end of the market.

2. Liquidity appears muted: the median days on market is 334, which points to slower sales velocity and extended listing lifecycles that may give buyers greater time to negotiate; the market temperature is neutral, so conditions are balanced rather than strongly one-sided.

3. Pricing and rental context show a median price per square foot of 814 alongside a median market rent of 3,850; rents are trending up, indicating continued strength in the rental market even as sale prices show downward pressure.

4. With interest rate pressure at a moderate level and observed price softening, the market may be exhibiting elevated inventory relative to sales activity and increased pricing friction, which appears to give buyers modest negotiation leverage while sellers in the luxury segment face the most downside risk.

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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.