Santa Barbara’s real estate market has seen some small changes during the first half of 2019. The number of homes sold has decreased by 1% compared to last year, and the median sale price has increase by 1%. The largest gains in both categories have been in Montecito and Carpinteria, with buyers feeling more confident now buying in those areas since the 2018 mudslide has become a more distant memory.
Lower interest rates have certainly assisted in keeping buyer expenses down and sales up, even with lower inventory levels. The current outlook is for more of the same, with home supply continuing to play a large factor in future sales. Santa Barbara has started this June with a 9% decrease in newly listed homes, and a 44% decrease in newly listed condos, in comparison to last June.
We appreciate your inquiries, and look forward to seeing you around and enjoying Santa Barbara this summer season!