According to the California Association of Realtors, at the regional level, sales continued to decline sharply with three of the five major regions dropping more than 30 percent from last year. The Central Coast region experienced the biggest drop of all, with sales plummeting 37.3 percent from a year ago.
Santa Barbara, in particular, experienced the biggest sales drop from last July down 50.3 percent. For the first seven months of 2022, neighboring San Luis Obispo had the sharpest sales drop of all counties down 28.9 percent.
All Central Costal counties also saw median price declines—except for Monterey, where prices were up 8.2 percent in July to a median of $924,000. In Santa Crus, prices were down 5.7 percent month-over-month to $1,250,000.
Santa Barbara’s median sale price fell below the $1 million mark, dropping 27.8 percent between June and July to reach $902,500.