Real Estate May 8, 2012

Santa Barbara’s popularity increases

Santa Barbara’s popularity is on the rise. City occupancy tax figures increased 14.9% for March of this year in comparison to last year, and have grown 10.1% year-to-date. Strong tourism amongst U.S. and international visitors coupled with many Californians vacationing closer to home has given Santa Barbara commerce much to be happy about. With percentage of second home purchases on the rise Santa Barbara is also seeing out-of-town buyers adding to their real estate sale numbers. There were more closed properties in March of this year than any previous March dating back to 2006. Currently a total of 375 homes and condos are under contract compared to 252 at this time last year. A large number of these contracts are from out-of-town buyers paying all cash for their second, or third, or… home.

Whatever type of property you’re interested in, whether vacation or primary residence,  I would enjoy hearing from you. Your inquiries are appreciated.