Real Estate April 29, 2014

Condos outperforming Houses

Looking at the year-to-date sale figures for Santa Barbara real estate it’s interesting to note that condos have outperformed houses in just about every category. The changes from last year’s market to this year are as follows.

Active Listings: Condos Up 22%, Houses Down 14%
Number Under Contract: Condos Up 5%, Houses Down 20%
Number Sold: Condos Down 11%, Houses Down 25%
Sold Volume: Condos Up 4%, Houses Down 13%

The one category that houses have recently outperformed condos is in median price, which figures are up 18% and 16% respectively.

There are several new luxury condo complexes with properties available in downtown Santa Barbara, including Alma del Pueblo, Seville, and The Villas. Prices range from $855K for a ground floor studio to $2.8M for a 3 bedroom 3 bathroom penthouse. For full information regarding availability and amenities in each complex please send me an e-mail. Santa Barbara’s Public Market adjacent to Alma del Pueblo has just opened with many boutique shops and eateries to enjoy while visiting.

With beautiful sunny weather and increasing inventory it looks like Santa Barbara’s prime buying and selling season is ready to head into full gear. I look forward to keeping you posted on important market activities and appreciate your inquiries.