Recently CNN Money published that in the 100 largest metros of the US, 8 of the 10 fastest moving housing markets are in California, with San Francisco in the top spot. In conjunction, Trulia reported that 70% of the homes in the three top markets sold in two months or less. The full articles can be accessed here: CNN Money; Trulia.
Santa Barbara was not included in the survey because of its smaller population. If Santa Barbara’s under $1 million market segment were included, where only 40.7% of homes were still for sale after two months, it would rank #5 between San Diego and OC (Orange County). That’s impressive considering Santa Barbara’s higher median asking price of $819,000 in the low end range.
It’s important to stay in touch with how fast the real estate market is moving when buying or selling. I look forward to keeping you up to date with Santa Barbara’s local market trends throughout the year and appreciate the opportunity to assist you with your inquiries.