Real Estate January 17, 2012

Biggest month in Santa Barbara since 2007

Closed sales last month in South Santa Barbara County hit 170. This is the biggest number of sales since May of 2007, and 35% more sales than the previous month. Prices are now at or below where they were in 2002, with interest rates even lower. This makes purchasing a home in Santa Barbara less expensive that it was 10 years ago, a truly unprecedented phenomenon. If you factor in the value of today’s dollar vs. 2002, about a 25% difference, it gets even less expensive.

Buyers are starting to read the writing on the wall, along with the mass media whose numbers are typically several months behind. If you’ve been waiting to make a purchase in Santa Barbara there may be no better time than the present. I look forward to your inquiries and to keeping you up to date on the changing market.