Real Estate July 3, 2012

The most sought after in Santa Barbara

In a city known for its Spanish Mediterranean architecture and red tile roofs it’s no surprise that the most requested style of property in Santa Barbara from home buyers of late is Spanish Mediterranean. This is especially true with out-of-town buyers who currently make up a very large segment of the market. Two other highly requested home qualities from buyers are “single-level” and “ocean view”. The no stairs preference has become more prominent with 55 and over buyers dominating the $1M plus market.

With its popularity and low turn over rate the single-level ocean view Spanish Mediterranean home in Santa Barbara usually comes with a hefty price tag. Currently there’s only one available home in this category priced under $2M. It’s ten minutes from town and has adobe architectural influences. There are another five homes available which range in price from $3.95M to $8.95M. These six homes comprise only 1.3% of the total housing inventory in Santa Barbara. There are two pending sales of such homes, one at $1.295M and the other at $13.95M. There have been 15 closings in the past year with an average sale price of $3.359M. Of the homes sold under $1.2M the average days on the market before selling has been 28.

What type of architecture and home qualities do you like best? I look forward to hearing from you and assisting with your inquiries.