Generally home to some of the priciest real estate in CA, the Central Coast is looking more affordable these days…well, at least by Golden State standards.
According to the California Association of Realtors, Santa Barbara’s median sale price fell 18.7 percent in September compared to the month prior, dropping below the $1 million marker. Last month, the median sale price in the Central Coasts shining beacon was $905,000.
Of course one or two ultra luxury sales can easily send the number north in the matter of a few weeks, but it is still way below the $1,000,000 median sale price from September 2021. It should be noted that sales themselves were also down 4.9 percent month-over-month, and 27.9 percent annually.
Further north, Santa Cruz saw sales drop by 8.5 percent on the monthly and 29.7 percent annually. The median sale price in Santa Cruz last month was $1,217,500—down 6.3 percent compared to August 2022.
Neighboring Monterey clocked in an 8 percent sales increase last month, while the median sale price was down 2.4 percent to $822,500. San Luis Obispo median sale price of $875,000 was just 0.7 percent below August, while sales were down 5.5 percent.