“Change the way you look at things, and the things you look at will change”. This is a powerful statement made popular by New York Times best-selling author Dr. Wayne W. Dyer that is enlightening numerous people around the world. It can be applied to every facet of life including real estate.
If you look at Santa Barbara real estate as a national entity that follows national trends and headlines then your perception is that it’s probably not a good time to invest. If you look at Santa Barbara real estate as a localized entity and product that attracts a worldwide buyer pool, sets its own trends, and is currently at historically affordable levels then you may consider now a good time to invest.
Here is some data to confirm the positive direction Santa Barbara real estate has headed in over the past year and change that has recently occurred. The number of year-to-date pending home sales has increased 11%, the median sale price has increased 1%, and the percentage of list to sales price has edged up close to 96% alongside a 2% drop in inventory.
I invite you to look at the positive quality of Santa Barbara real estate and share your perspective. With enough incremental changes we may see an even higher shift in the market.