Real Estate January 1, 2013

Santa Barbara year-end price sale continues

As we ring in the New Year there are still many properties in Santa Barbara that were priced in 2012 and are now available in 2013. With a large number of sellers waiting until later in the year to put their homes on the market now may be the perfect time for buyers to cash in on currently available properties that were priced last year. Most of the sellers I’ve talked with who will be listing soon plan to price roughly 10% higher than sales of similar properties in 2012.

An indication of buyers getting a jump start on this good timing can be seen by the amount of increased activity in December. Even though the number of available homes during the month was down 22% compared to the year prior, the number of homes which went under contract increased 55%.

December 2011:  Available Listings – 833;  New Pending Sales – 113

December 2012:  Available Listings – 646;  New Pending Sales – 175

For more information on homes that were priced to sell last year and are still available please send your inquiry. I appreciate the opportunity to assist you with your real estate goals in 2013.

Happy New Year!