Real Estate December 20, 2011

Looking at a new year

Now is the time when may people reflect on the past year and think about what the new year has in store. I’d like to share with you some year-end numbers that shed light on the Santa Barbara real estate market.

Today there are only 734 active house, condo and land listings in the Santa Barbara area, stretching from Carpinteria to Goleta. A year ago there were 818 listings.

Today there are 281 pending house, condo and land sales in the area. A year ago there were 201.

Today there are 1,335 year-to-date sold listings in the area. A year ago there were 1,326.

Today the average 30-year fixed mortgage interest rate is near 4%. Last week it matched an all-time low of 3.94%. A year ago it was 5%. 

Today the unemployment rate in Santa Barbara County is near 8.2%. A year ago it was 10%.

There are a lot of numbers at this year’s end that indicate a strong 2012 market for Santa Barbara. We all look forward to good things happening. I hope to hear from you this coming year.