August was a hot month for national real estate sales with figures up 7.7% from July. Averages are nice but how is the local real estate market performing? With Santa Barbara’s continued attraction as one of the most desired places in the world to live it’s not surprising that its real estate is outperforming the national average.
August sales figures were up 11.3% from July in the Santa Barbara area, and up 35% from last August. During the same time period properties under contract increased 23% and inventory levels decreased 15%. September already shows an 8% increase in sales.
Many say the real estate market is moving sideways according to national statistics. This may be accurate in many places but it’s important not to disregard the individualized movement of your own market. For an accurate look at the current direction and opportunities in Santa Barbara’s real estate market I appreciate and look forward to your inquiries.