AUGUST MARKET UPDATE
August brought steady momentum across South Santa Barbara County, with 112 closed sales, just shy of last year’s 115. Median Price rose 7% to $1.9M, and notably, 90% of all sales were above $1M, a threshold reached only twice before.
At Riskin Partners, August included notable sales at the $3–4M level, with the closings of 715 Circle Drive ($3.75M) and 1326 Hillcrest Road ($4.195M). August also saw the start to a string of very strong activity at the ultra-high-end of the market. Check back next month to see if the trend continues into fall!
Montecito
Montecito recorded 12 sales in August, down slightly from 15 last year. Median Price mirrored the broader county, rising 7% year-over-year to $6.1M. Two notable luxury transactions closed over $11M, including 690 San Ysidro Road ($11M) and 1166 Summit Road ($11.5M).
Santa Barbara
Santa Barbara saw 57 sales, edging up from 54 a year ago. Median Price increased 6% to just under $2M. Four homes traded above $5M, highlighted by 530 Plaza Rubio, which closed at $7.2M.
Hope Ranch
Hope Ranch continues to have steady activity, with three sales. The most notable transaction in August was Riskin Partners’ off-market sale of 4280 Via Esperanza for $12M.
Summerland
There were no sales in Summerland this August.
Carpinteria
In Carp, there were 10 sales in August, on par with last year. Median Price, at $1.5M, was heavily skewed, not because of an incredibly strong month, but because of a weak August 2024 when there were only two sales over $1M.
