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SANTA BARBARA REAL ESTATE MARKET UPDATE: SEPTEMBER 2024

October 14, 2024

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As we transition into fall, the Santa Barbara housing market is buzzing with positive developments that are sure to excite potential homebuyers and sellers alike. Following the recent Federal Reserve’s welcome dip in mortgage rates, we’re witnessing a surge in new listings, reaching the highest level since 2021. With more homes on the market, buyers are finding more opportunities to discover their dream homes amidst the beautiful backdrop of Santa Barbara’s coastal charm. And this increase in options for buyers makes sellers happy, too, as a larger pool of potential buyers means more interest and better chances of selling their property at top dollar.

Realtor Cristal Clarke on the phone at her dedsk with a laptop in front of her.

Good News for Sellers and Buyers

A key trend we’re observing across the country is the positive impact of recent improvements in mortgage rates on homebuyers' purchasing power. For individuals who have been hesitant to enter the market, this change might be the catalyst they need. Additionally, with home equity at an all-time high, current homeowners are in a significantly stronger equity position than those in the early 2000s.

More to Choose From

Nationally, we’re seeing the highest number of homes available for sale since January 2020, before the pandemic began. And we’re seeing that locally, too. Want proof? Explore my portfolio of listings in Santa Barbara to see the exciting wave of new properties on the market in our coastal hamlet. With the surge in housing inventory, buyers now have diverse options. Meanwhile, the pricing for luxury homes in our seaside paradise remains strong. Whether you’re on the hunt for your dream home or contemplating listing your property, the Santa Barbara real estate landscape is ripe with opportunity.

Neighborhood Market Update

A luxury one-story Mediterranean-style home glowing at dusk, framed by lush landscaping, a pool, and mountains with a colorful sky.

Montecito
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NEW LISTINGS: 29
PENDING: 10
PRICE CHANGES: 25
SOLD: 17

A large, storybook looking luxury home with a high peaked roof, surrounded by beautiful grounds, a kidney shaped pool, mature trees and blue sky.

Hope Ranch
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NEW LISTINGS: 3
PENDING: 3
PRICE CHANGE: 5
SOLD: 0

A  modest one-story upscale Spanish Colonial home in Santa Barbara with a red tiled roof, a large terrace and lawn.

Santa Barbara
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NEW LISTINGS: 123
PENDING: 110
PRICE CHANGES: 75
SOLD: 91

A Spanish Colonial Revival style home with red tiled roof, red-paved terrace, lush landscaping, and hills in the background.

Carp/Summerland
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NEW LISTINGS: 29
PENDING: 18
PRICE CHANGES: 11
SOLD: 12

A sleek, sprawling, single story luxury home at night with the lights on, and trees in the background

Featured Property

Indoor-Outdoor Living at its Finest on East Valley Road
Listing Price: $ 7,395,000

This beautifully remodeled single-story 4 bedroom, 4.5 bath home effortlessly merges the comforts of its luxury interior with the stunning surroundings that those of us who live here cherish. The home has been thoughtfully designed to create a tranquil retreat where nature seamlessly integrates into everyday living.

The furnished living room of a luxury home with a wall of open french doors to lush gardens.

Imagine large sliding glass doors that open to a spacious patio, inviting fresh air and natural light into your living area. The boundaries between indoor and outdoor spaces blur, creating an expansive environment perfect for relaxation and entertaining. Thoughtfully designed spaces, such as cozy nooks or the elegant dining area, extend onto lush gardens or tranquil decks, allowing you to enjoy meals al fresco or unwind with a good book amidst the sounds of nature.

A serene outdoor patio with upscale furniture, embraced by lush green plants in the background.

This property incorporates space to embrace the outdoor lifestyle, offering opportunities for gatherings and intimate evenings under the stars. Whether it’s a delicious morning coffee on the terrace or a sunset gathering with friends, indoor-outdoor living cultivates a deep connection with the environment, promoting a lifestyle that celebrates both comfort and the beauty of our natural surroundings.

A large, sleek gourmet kitchen featuring a center island, stainless appliances, and a large skylight

At the heart of the home lies a gourmet kitchen, a true culinary epicenter that embodies both elegance and functionality. The centerpiece is a stunning walnut kitchen island topped with pristine white Caesarstone, creating a noticeable contrast that invites family gatherings and gourmet meal preparations. Plus, this kitchen is fully equipped with top-of-the-line Miele appliances.

A luxuriously furnished bedroom. with sliding doors open to an outside patio.

The home features spacious bedrooms, each thoughtfully designed to provide an exquisite sanctuary for relaxation and rejuvenation. Every bedroom is a private retreat, connected to Mother Nature.

A curving walking path flanked by verdant flora and large trees.

Landscaping plays a crucial role, with winding paths through strategically placed plants, trees, and flowers that create privacy and a sense of serenity while also drawing the eye to breathtaking views. Ultimately, this harmonious integration fosters a sense of well-being, encouraging a more relaxed and fulfilling way of life where every day feels like a getaway.


For a personalized, complimentary consultation regarding your real estate needs, contact me at (805) 886-9378 or via email at Cristal@montecito-estate.com. In the meantime, keep yourself updated on the real estate market by exploring my blog posts, where I cover both local and national trends.


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Client Reviews

“It was an emotional experience selling our mother’s home in Montecito that we all loved so much but Cristal made the process easier on our whole family by guiding us through the transaction every step of the way. She knows the market so well and everything she recommended was on point including the asking price, painting, and staging the home, which looked beautiful and helped the buyer envision her new home. We sold it the first day it hit the market with an offer above asking! Cristal did an incredible job communicating with us and the buyer to ensure that the transaction would run smoothly. We highly recommend using Cristal, she was a pleasure to work with! ”

- J & A

“Cristal is a pleasure to work with! Her knowledge of the local real estate market coupled with her amazing listening skills resulted in her showing us an array of homes that were all excellent choices. Her low-pressure patient attitude made us feel extremely comfortable with the whole process. I cannot recommend her highly enough.”

- M.F.

“Cristal Clarke is #1 in her field - and you don't become #1 by luck. Cristal works harder, and longer, and with more charm and patience than any real estate agent I have ever worked with in the past; her calendar has no weekend, her days have no clocks, her only concern is selling your property as soon as possible and for the best price on the market. Am I a fan? You bet!”

- P.B.

“We have used Cristal now several times and cannot express how grateful we are for her expertise, dedication, and unwavering support throughout the entire home-buying process. Cristal is knowledgeable, patient and attentive. Her attention to detail is remarkable, and she consistently went above and beyond to provide us with all the information and resources we needed to make informed decisions. Cristal is a skillful negotiator and advocate. She can navigate complex negotiations with professionalism and grace and felt like a true partner to us in the home-buying process. Cristal has a genuine passion for real estate and a deep commitment to her clients' satisfaction. I cannot speak highly enough of Cristal and her exceptional service. She is a true expert in her field and her dedication to excellence, combined with unwavering support is the reason we choose to work with her for all our real estate buying needs.”

- T.C.

“Cristal is a top-notch realtor who sold my home before it ever went on the market. I had two competing offers that enabled me to get top dollar for my home. Not only is Cristal superb but her team is extraordinary. I cannot say enough about Cristal and her team. They are simply phenomenal, the consummate professionals, who took care of every possible detail, making the sale and transition period, smooth from our end. They are also lovely, caring people, who knew all the right professionals, to get the job done. Thank you, everyone!”

- D.R.

“I could list lots of cool adjectives to describe Cristal. All good by the way. But, that is not why I or anyone should hire Cristal. My reason for hiring her, which proved to be correct, is very simple. She got the job done. And, she does it time and time again and with zero issues. And, that is why she is one of the top agents in the country. End of subject. ”

- M.A.

“Working with Cristal was a complete pleasure. Cristal was extremely patient with us as we evaluated nearly 2 dozen homes over a span of 2 years. Her knowledge of the market is unmatched. Cristal provided us with exceptional counsel as we evaluated opportunities and negotiated pricing. The closing process was handled thoroughly and efficiently. We could not be happier with our purchase and even more happy to now call Cristal our friend.”

- D.K.

“Cristal Clarke has conducted numerous real estate transactions for me beginning 13 years ago with the purchase of a Lemon Ranch. She has handled both large and small purchases and sales with equal dedication. As a negotiator, you can’t find anyone better. Her transactions are always conducted in the most appropriate and professional manner. Cristal has considerable knowledge of the Santa Barbara market.”

- S.N. Decker Ph.D.

“Living in Europe, we were to say the least, unaccustomed to the nuances of Real Estate acquisition in California and Cristal steered us through the process with absolute professionalism and personal attention to detail at every turn. Her in-depth knowledge of the market place combined with enthusiasm and drive was the only reason we secured the property of our dreams and will be forever grateful. If you are looking for personal discrete and private representation of the highest quality we suggest you look no further than Cristal Clarke.”

- Johan and Paula van den Berg

“Cristal is very straightforward, cheerful, helpful, professional and trustworthy….we felt very lucky to work with her.”

- John and Lacey Williams

“After considering our many choices, we are grateful it was Cristal Clarke of Sotheby’s International who represented the sale of our Montecito cottage. We are familiar with Cristal’s reputation of hard work and dedication to clients, but it was her attention to detail that made our experience so positive. She offered suggestions for staging the property, worked in harmony with potential buyers and was even able to secure back up offers. The sale of our cottage was completed much sooner than we expected, due in great part to Cristal’s professional skills and support. We highly recommend Cristal as a first choice for anyone needing representation with real estate.”

- Michael & Nancy Lee

“Our experience in working with Cristal Clarke resulted in the successful and discrete acquisition of a property which was not yet on the open market. Her knowledge of the Montecito/Santa Barbara area and vast expertise blended with her passion for real estate and architecture, provided us with the very highest level of professionalism and personalized services. Cristal exhibited a rare combination of excellent communications, attention to detail, creativity and patience.”

- Richard and Catherine Frinier

“Cristal really breaks the mold. She knows every nook and cranny of this real estate market, understands value, and follows up on everything, all the time. She was incredibly patient with our two year quest to find the perfect house. Every house hunting trip from across the country was well planned, and our time was never wasted. On top of her professionalism and expertise, she is delightful to spend time with. We are thrilled with the home we purchased, and grateful to Cristal for so wisely advising us through this process, right through to the close and beyond.”

- Laurie Siegel

“We met Cristal first in the course of renting a winter home (for three years), then buying a house using her as our agent. She was amazingly good at listening to our wants and showing us homes that fit our needs. Her mastery of the paperwork was perfect. Most importantly, there was never a situation where we doubted her straightforwardness or integrity. If we do another real estate transaction in Montecito (which I doubt, we’re happy with what we purchased), without question we’d use Cristal again.”

- Ken Saffir

“Susan and I just want to thank you for your efforts in the sale of our home. You are really quite amazing. Your competence, persistence, optimism and humor made the entire process effortless. Every problem that arose, you somehow fixed; any obstacle, you overcame. We have bought and sold many homes. It has never been such a painless and enjoyable process!”

- Michael & Susan Marquart

“A little something about “our” realtor, Cristal Clarke. My wife and I came to Santa Barbara about fifteen years ago looking for a seasonal home from which to enjoy the weather and amenities of the central coast. Being in the real estate business myself I was familiar with agents and brokers so entered the market with open eyes. We “flipped” a few houses in the early years, dealing with various agents and finally ended up in Montecito. That’s when good fortune put us together with Cristal. To say we were impressed is to put it mildly. Cristal really knows the market. She is familiar with the area, its history and trends. When we have questions about a particular property she either has the answers immediately or gets back to us by phone or email. There is no waiting or wondering with Cristal. She is an agent who is “on top of it.” Her recommendations as to price points, contractors, inspectors and title agents have proven to be exceptional, showing great insight and the highest professional standards. We consider ourselves exceedingly fortunate to say that Cristal Clarke is our realtor and would recommend her services to any serious buyer or seller.”

- Rob & Judi Kelch