Real Estate Santa Barbara year-end stats As 2019 comes to a close we can clearly see the changes that have taken place in the Santa Barbara real estate market with respect to the year prior. Higher than anticipated increases in number of homes sold, total sales volume, and median sale price are evident after a somewhat slow first half, and continued […]
Real Estate Summer activity in Santa Barbara 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 […]
Real Estate Year-end Santa Barbara home stats For the first time since 2011 the median sale price of a home in Santa Barbara has decreased. The 2018 median sale price finished the year at $1,270,000, four percent lower than the 2017 median of $1,324,000. Number of homes sold and total sales volume also decreased eleven and twelve percent respectively when compared to […]
Real Estate Best-selling properties in Santa Barbara Over the past three months there have been more homes selling on the west side of Santa Barbara than any other areas between Goleta and Carpinteria. With a 13% increase in number sold and 20% increase in sale volume over the same period last year it’s the only area that has not seen a decline. […]
Real Estate Third-quarter Santa Barbara market stats The third-quarter Santa Barbara area median home price showed a drop of 5% from last year, down to $1,235,000 from $1,305,000. During the same period inventory rose 14% and number of sales dropped 14%. The Santa Barbara condo market out performed homes in the third-quarter as the median sale price rose 4%, up to $665,000 […]
Real Estate Santa Barbara market trends After a second quarter slow down the Santa Barbara area’s mid-year median home price of $1,292,000 came in slightly lower than the year prior. Number of sales also came in lower with a 12% decrease. The trend has continued through July with 14% less sales than last year, and the month’s median home price coming […]
Real Estate Santa Barbara median drop In the past two months home sales in the Santa Barbara area have seen some interesting change. The first quarter median home price came in at a record setting $1,433,250 for 2018, a 7% gain over the first quarter of last year. Now the year-to-date median home price is at $1,300,000, which is a slight […]
Real Estate Slow first quarter for Santa Barbara Inventory level and number of homes sold this year has shown a strong correlation in the Santa Barbara area real estate market. For the first quarter of 2018 the number of available listings and number of homes sold both dropped -11%. The biggest drops in number of homes sold has been in South Goleta, Carpinteria, […]
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Real Estate Property tax changes move toward ballot Tax time is upon us, as are proposed California property tax changes for later this year. The “Property Tax Fairness Initiative”, which is making ground to appear on the November 6, 2018 state general election ballot, would allow homeowners 55 years of age or older to transfer some or all of their Proposition 13 property […]
Real Estate Montecito struggles after devastation Since the devastating mudslide on January 9th of this year the Montecito real estate market has struggled as one might expect. From the time of the unfortunate event until now there have been declines in just about every category when compared to the same period last year. The number of homes listed has dropped 41%, […]
Real Estate Santa Barbara Remains Strong During Setbacks It’s been quite trying times for Montecito, Ventura and Santa Barbara since the Thomas Fire ignited on December 4, 2017, burning over 440 square miles and setting up the deadly scenario of mudslides in Montecito. Our hearts go out to the all those effected and our community is thankful to those who’ve lent helping hands […]
Real Estate Accessory dwelling units in Santa Barbara On September 27, 2016 California Governor Jerry Brown signed Assembly Bill AB 2299 and Senate Bill SB 1069 which significantly expands the right of residential property owners to develop “accessory dwelling units” or ADUs, also known as second units or granny flats with kitchens. The new state law requires “ministerial, nondiscretionary approval” of ADUs, with […]
Real Estate Summer Solstice in Santa Barbara Happy Summer Solstice! Summer Solstice happens today at 9:24pm in Santa Barbara, marking the longest day of the year and first day of summer. To celebrate the event Santa Barbara will once again have its traditional Summer Solstice Celebration this Friday through Sunday at Alameda Park downtown, with the main event parade up State Street […]
Santa Barbara Events Looking for the right price When actor Jeff Bridges listed his beautiful Tuscan ocean view estate on Hot Springs Road in Montecito for $29.5 million in the summer of 2015 he didn’t expect that it would sell for only $15.925 million almost two years later. A couple of other celebrity estates have recently come on the market in the Santa […]
Real Estate Santa Barbara predicted to lead California In mid-February the California Economic Forecast Project conducted a 2017 Economic Review at Santa Barbara’s Fess Parker Resort. During the conference predictions were laid out for years 2017 through 2021 with regard to South Santa Barbara County’s housing market. It was pointed out that relying on historical performance to predict future direction is ineffective in […]
Real Estate It’s springtime in Santa Barbara In addition to being one of the busiest times of year for the real estate market, springtime brings many other reasons to be out and about in Santa Barbara. This year’s recent rains have complimented the color and fragrance of the area’s beautiful scenery with abundant blossoming flowers, trees and plants. The following list includes […]
Real Estate Cash sales predicted to decrease Currently one-third of home sales nationally are transacted with all-cash, down 4.5 percentage points from a year ago. All-cash purchases hit their last record peak nationwide in January 2011 at 46.6 percent, and during the first three months of 2014 all-cash transactions accounted for 43 percent of national sales. Experts predict that cash sales will […]
Real Estate Santa Barbara hot spots There are some hot spots leading the way so far this year in the Santa Barbara real estate market. Year-to-date Hope Ranch home sales have seen a 350% increase in number sold and 400% increase in number under contract when compared to last year. In addition, Santa Barbara East area sales and pending sales have […]
Real Estate Santa Barbara off to a great start With many various predictions and differing expectations for the housing market this year Santa Barbara is off to a great start. Year-to-date numbers show that inventory has increased for both homes and condos, 22% and 7% respectively. The number of homes under contract is up 23%, and number of condos sold is up 33%. So […]
Real Estate Good news for the housing market Most predictors point to growth for the U.S. housing market in 2017. One of the most optimistic outlooks has just surfaced from economist and Nobel laureate Robert Shiller who indicates that an upcoming housing boom is not out of the question. To read the full article click here. With slightly rising interest rates it’s pointed […]