Real Estate July 8, 2014

First half numbers for Santa Barbara

It’s been an interesting year for real estate in most areas of the country and the first half numbers for Santa Barbara are now in. Following are some of the most significant figures which certainly confirm that the market is slow moving but appreciating due to demand. The lower number of sales can be attributed to the continuation of historically low inventory and increasingly difficult lender qualifying standards.

Home Sales: 670 in 2013; 535 in 2014
Condo Sales: 229 in 2013; 205 in 2014
Homes Under Contract: 722 in 2013; 587 in 2014
Condos Under Contract: 235 in 2013; 226 in 2014
Home Median Sale Price: $950K in 2013; $1.16M in 2014
Condo Median Sale Price: $495K in 2013; $550K in 2014

These numbers are representative of Santa Barbara and surrounding communities which include Carpinteria, Summerland, Montecito, Hope Ranch and Goleta.

As the year progresses I look forward to keeping you up to date on the latest market trends and available properties in and around Santa Barbara. If there’s a particular neighborhood, type of property, or price range that you’re focusing on I’m happy to provide you with detailed information that would be helpful. Your inquiries are appreciated.