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Santa Barbara Commercial Real Estate Stats – Q4 2022

  • CRE Sales: 25 (vs 43 in Q4 2021)
  • Largest Commercial Sale: $14.4 Million
  • Sales Volume: $105 Million (vs $335 Million in Q4 2021)

Santa Barbara Q4 Vacancy Rates

  • Office 9.7% (vs 8.8% in Q3 2022)
  • Industrial 0.1% (vs 0.7% in Q3 2022)
  • Retail 2.7% (vs 2.7% in Q3 2022)

Q4 Quarterly Absorption (SF)

  • Office 33,900 (vs 39,900 in Q3 2022)
  • Industrial 31,900 (vs 27,500 in Q3 2022)
  • Retail 21,800 (vs 18,000 in Q3 2022)

Average Gross Asking Rates / SF

  • Office $3.31 (vs $3.30 in Q3 2022)
  • Industrial $3.09 (vs $2.73 in Q3 2022)
  • Retail $4.38 (vs $4.42 in Q3 2022)

View the Full Santa Barbara CRE Report

Santa Barbara Economic and Demographic Info & Stats

Santa Barbara’s economy primarily comes from tourism, but there are also other industries in the area, such as: agriculture, health care, education, government, tech and manufacturing.

Primary employers in the area are UCSB, Vandenberg Space Force Base, Santa Barbara city and county governments, Santa Barbara Cottage Hospital, and Chumash Casino Resort.

  • Santa Barbara County Population: 448,900+ Residents
  • Average Annual Salary: $59,500*
  • Santa Barbara City Population: 88,700+ Residents
  • Median Home Price: $464,954*
  • Santa Barbara Unemployment Rate: 8.6%*
  • Best Places to Live in CA: #5* *According to U.S. News & World Report