Summer Isn't Over Yet—And Neither is the Market

While back-to-school ads might say otherwise, summer in Santa Barbara is far from finished. In fact, it's just getting good. The water’s warming, the beaches are buzzing, and Fiesta is wrapped up—color, music, food, and energy around every corner.

This year marked our first time staying local for Fiesta in a while, and taking the kids downtown was a total delight. There’s truly something for everyone—from family-friendly fun during the day to vibrant nightlife after the sun goes down. What's your favorite Fiesta tradition?

🏡 Market Snapshot: A Tale of Two Halves

The Santa Barbara real estate market is riding a wave of contrasts. The first half of 2025 brought a 17% increase in new listings compared to 2024—yet only a 4% increase in sales. That adds up to a 24% boost in available inventory.

But then July changed the tone. New listings dropped 11.5% compared to last July, and both June and July saw fewer closed sales than last year. So far in August? It's been quiet—buyers are circling, but new listings are few and far between.

💰 Pricing and Buyer Behavior

Prices are holding steady. July 2025 home values are nearly identical to July 2024. Across the first half of the year, we’ve seen a modest 1.8% year-over-year appreciation.

Buyers remain active—but selective. In this market, presentation and pricing matter more than ever. Homes that show well and are priced right are seeing strong interest, even multiple offers. If you’re thinking of selling, timing and strategy could be on your side.

Let’s Talk Strategy

Whether you’re curious about listing, wondering what your home is worth today, or just want to swap Fiesta stories—reach out. I’m here to help you navigate whatever comes next.

Unpacking Real Estate Ownership by Generation (1991 vs. 2025)

By Jenna Ross


Key Takeaways

• In 1991, the Silent Generation held 65% of real estate; by 2025, that has dropped to just 9%.
• Baby Boomers own 41% of property in 2025.
• Millennials own less than two-thirds of the real estate Baby Boomers did at the same age.

Over the past three decades, America’s real estate ownership landscape has shifted dramatically. The distribution of property reflects not just wealth, but also demographic momentum—who’s aging, who’s buying, and who’s being left behind.

Property Power Shifts

Using data from the Federal Reserve, we can see how the breakdown of property ownership has changed over time.

Back in 1991, the Silent Generation owned the lion’s share of real estate. Baby Boomers owned nearly all the rest. 

By 2025, this distribution has shifted significantly. The Silent Generation’s share has dropped and Baby Boomers now own the largest percentage. Gen X, now in their peak earning years, has seen their share jump to 30%.

The Factors Driving Real Estate Ownership

The dramatic decline in Silent Generation ownership reflects aging and mortality, and can be one gauge of the wealth transfer.

But the rise of younger generations in real estate has been uneven. Millennials own less than two-thirds of what Baby Boomers did at the same age, highlighting affordability pressures, student debt, and delayed entry into homeownership. 

In fact, Millennials’ share of ownership falls far behind their share of the population that is of home-owning age.

Source: Federal Reserve and Census Bureau. Age 29 is used as the cutoff because the youngest Millennials—the latest generation in the data—are 29 in 2025. Numbers may not sum to 100 due to rounding.

On the other hand, Baby Boomers own an outsized proportion of property relative to their share of the population that is 29 and older. 

Baby Boomers have benefited from buying at a time when homes were more affordable. And, in one study, a third of Baby Boomers who own their home say they’ll never sell. With the older generation aging in place, it may take time for younger generations to climb the real estate ladder.

California's Housing Market Freezes Up)

By Giulia Carbonaro
Newsweek
 

Home sales have plummeted in California over the past few years and are now down 37 percent from their pandemic peak, according to data from real estate analytics platform Reventure App.

Real estate analyst Nick Gerli, Reventure's CEO and founder, said that this plunge in sales indicates "a massive homebuyer strike underway in California right now" which is likely the result of how expensive the Golden State market has gotten over the past five years.

Falling Sales and Rising Inventory

While the California housing market remains competitive—with homes for sale spending an average 31 days on the market before going under contract, less than the nationwide median of 38—and home prices are still rising, buyers in the state are clearly withdrawing.

According to the latest Redfin data, home sales in California totaled 24,895 in May, down 7.9 percent from a year earlier. An analysis of historical data by Reventure found that this number was about 25 percent lower than the state's long-term average—the typical or expected number of sales over an extended period of time...

...This drop in sales might have something to do with the fact that the median sale price of a home in California remains much higher than that of a typical home in the U.S. In May, the median sale price of a home in the state was $859,700, up 0.02 percent year-over-year; in the U.S., it was $440,910, up 0.6 percent from a year earlier.

Not only are homes expensive, but mortgage rates remain high—as of July 3, the average 30-year fixed-rate mortgage was 6.67 percent—and other costs—including home insurance, homeowners association (HOA) fees and repairs—are also going up, making buyers think twice about whether they can afford owning a home.

Read the Full Article Here!