While inventory was extremely scares during the month of December, sellers were able to take advantage of the high demand from the current market. The median condo price was up 7% from this time last year, while the median price of a single family residence was up over a staggering 12% from December 2020. 

Interest rates are expected to climb during 2022, however they will still remain around historically low rates. Inventory is expected to increase over the first and second quarter, however demand for homes in South Santa Barbara county is still exceptionally high.