Thought the Market Passed you By? Think Again
If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options. In fact, now might be the ideal time to take another look. With more homes to choose from, prices leveling off in many areas, and mortgage rates easing, today’s market is offering something you haven’t had in a while: options.
Experts agree, buyers are in a better spot right now than they’ve been in quite a long time. Here’s what they have to say.
Affordability Is Finally Improving -
Lisa Sturtevant, Chief Economist at Bright MLS, says affordability is finally starting to turn the corner:
“Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”
Mortgage rates have eased from their recent highs, price growth has slowed, and that one-two combo is making homes more affordable than they’ve been in months.
There Are More Homes on The Market -
And a big reason prices are easing is because there are more homes on the market. According to the latest from Realtor.com, there are 17% more homes for sale today than there were at this time last year. That means more options, less competition with other buyers, and a chance to find the space that actually works for you.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:
“Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.”
Take a look at the numbers.
As Yun notes, inventory is up everywhere. Compared to this time last year, every region of the country has more homes on the market than at this time last year (see graph below):
That translates to more homes to choose from, whether you’re looking for a bigger backyard, a shorter commute, or finally ditching your rental.
But not all markets are the same…
When you compare current inventory growth to pre-pandemic norms (2017–2019), the picture changes a bit, depending on where you are (see graph below):
The green bars show where inventory has fully recovered (and even grown above pre-pandemic levels) in the South and the West. Supply, however, is still tighter in the Northeast and Midwest, as shown in the red bars, where inventory is still below normal.
And here’s why that’s still a win everywhere.
When you step back and look at the bigger picture, with inventory up in every region, that means more choices everywhere, even if some areas have more homes for sale than others.
And with fewer buyers in the market and more homes for sale, sellers are willing to negotiate to get a deal done. All of that adds up to a win for today’s buyers.
Your Local Look -
The Santa Barbara market reflects the national trend of increased options and moderating price growth as of October 2025.
Inventory is Increasing: The year-to-date (YTD) total active listings for Home Estate/PUDs is 1,091 as of October 2025, which is up 15.1% from 948 in 2024. For Condos, the active listings reached 351 YTD October 2025, an increase of 17.4% from 290 in 2024.
Prices are Still Rising, But More Moderately: The YTD median sales price for Home Estate/PUDs reached $2,370,000 in October 2025, an increase of 12.2% from $2,112,500 in 2024. For Condos, the YTD median sales price hit $1,025,000 in October 2025, a more modest increase of 2.8% from $996,625 in 2024.
Sold Volume is Up: The total number of sold properties is significantly higher, with Home Estate/PUD sales up 25.1% to 803 YTD October 2025 (from 642 in 2024) , and Condo sales up 12.4% to 272 YTD October 2025 (from 242 in 2024). This active pace, coupled with increased inventory, gives buyers more to choose from and greater negotiating power.
This means that while the Santa Barbara market remains strong, the environment is shifting to favor buyers more than in recent years.
Want to know what’s happening in our area? Let’s have a conversation so you can get a custom overview of what’s available right now and learn how to be ready when the timing is right for you.
Because this isn’t 2021. This isn’t even 2023 or 2024.
This is a new market – and you might be surprised by what you find.
Ready to See What's Available? Call or email today to schedule a complimentary consultation and get a personalized overview of the best homes hitting the market in your preferred Santa Barbara neighborhood.
*Sourced from the Santa Barbara Association of REALTORS® Monthly MLS Statistics, October 2025. Data is compiled from the Santa Barbara Multiple Listing Service as of 11/5/2025. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. All offerings are subject to errors, omissions, changes including price or withdrawal without notice.
*The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Brisaly Balderas and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Brisaly Balderas and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
