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Market Update ~ October 2013

With such a small amount of inventory in the Santa Barbara and California Real Estate Markets, prices have continued to increase. The average sales price in California thus far in 2013 was $409,000. The California Association of Realtors believes that number will increase to $433,000 in 2014. They also believe the number of sales will increase.

The median sales price in Santa Barbara County thus far in 2013 is $937,500. This is an incredible increase from last year’s median sales price of $793,500. The state of California’s sales price rose 28% from last year. The California Association of Realtors believes this number will increase an additional 6% in 2014. The Grubb Campbell Real Estate Group is excited for 2014’s Real Estate market and is hoping inventory levels will increase to accommodate a higher number of sales.

 

CA Sales Price 2014

 

CA Housing Outlook 2014