This is consistent with data from sources like Zillow, Redfin, and the local Santa Barbara Association of Realtors.However, when I go to "Pick Markets" and select Santa Barbara, the median home price listed is $620,000, which doesn’t align with what I’ve observed locally.

I have 3 properties and that seems to be what I have observed at least with mine in the Phoenix Arizona market. 

Just my observation.

A few observations:1.

@Sean MacDonaldI think you summed it up in your observation of your clients, it's very typical here in the valley that the number of transactions will decline right before an election and then those buyers just like your clients will get back in and the number of transactions will pick back up in the months following the election.

Not specific to OP but I constantly observe the pressure investors face to buy real estate.

From what I observed there's bigger income to be made with due diligence to find that property, but with big income can come big risks if you're not careful which scares me so much tbh.

They are both paid in full and completely rehabbed from the crawl space to the rooftop.

@Melanie Baldridge, I agree with your observation.  

As I've observed, after a down period, the market tends to recover and show growth for approximately three years.Timing the market is a skill every real estate investor should develop.