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Montecito Market Update

Posted by on Mar 22, 2016 in Blog Posts, Real Estate Market | Comments Off on Montecito Market Update

Montecito housing market remains strong as average sales price increases 15% from 2014 to 2015, and jumps another 10.5% from 2015 t0 2016. As of 3.07.2016, there are 124 active listings in...

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2014 Real Estate Market Update

Posted by on Aug 4, 2014 in Blog Posts, Real Estate Market | Comments Off on 2014 Real Estate Market Update

Santa Barbara real estate has been a much sought-after market for awhile now. And reasonably so, with the coastal views and local feel. It’s the right place to start a career, start a family, or start that well-deserved retirement lifestyle. With the right help, navigating this market is not nearly as tricky. Some of the basics: Historically, summertime is the slower season for Santa Barbara real estate inventory and its surrounding areas. In the last couple years the average price for houses has gone up, but that trend is still very much in line with the recovering housing market. As usual, expect areas like Hope Ranch and Montecito to fetch higher prices, but if you’re on more of a budget Santa Barbara city and nearby Goleta bring in more area sales at much more affordable prices. To give a...

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Real Estate Report – May 2014

Posted by on May 19, 2014 in Real Estate Market | Comments Off on Real Estate Report – May 2014

  Entering the Spring Season of Santa Barbara Real Estate There are still multiple offers at all price points.   For single family residences and Planned Unit Developments (referred to as houses), the year to date median continues to rise.  The current median is in line with the medians during the height of the market six to nine years ago as noted on the graph.  Our current median is over 21% higher than last year at this time. On the graph regarding number of sales, there are far less sales than the last two years and during the last Up market.  During the down time of the market, we actually had as many as 33% of our house sales being distressed properties on a monthly basis.  Distressed properties are those that were either selling short (less than what was...

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Sold Santa Barbara Listings From Last Week

Posted by on May 5, 2014 in Real Estate Market | Comments Off on Sold Santa Barbara Listings From Last Week

We are happy to bring you the following sold properties in Santa Barbara from last week: • 202 Eucalyptus Hill Drive – Sold for $2,215,000 • 253 Santa Rosa Lane – Sold for $2,665,000 • 130 W Alamar Ave 3 – Sold for $539,000 • 3056 Foothill Road – Sold for $810,000 • 1010 Crestwood Place – Sold for $849,000 • 208 Santa Barbara Street A – Sold for $1,047,000 • 1561 Alameda Padre Serra – Sold for $1,380,000 • 1622 Loma Street – Sold for $1,550,000 • 1759 Grand Avenue – Sold for $1,650,000 • 1912 Mission Ridge Road – Sold for $2,195,000 • 1111 Mission Ridge Road – Sold for $4,850,000 • 3435 Richland Drive 18 – Sold for $325,000 • 26 W Constance Ave 2 – Sold for $425,000 • 631 W Ortega Street F –...

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Market Update – March 2014

Posted by on Mar 25, 2014 in Real Estate Market | Comments Off on Market Update – March 2014

Single Family Home Summary As far as new listings for houses (single family homes and Planned Unit Development units) , this year we have only 143 new listings compared to last year at this time with 199. The number of pended listings for the month is also low compared to last year, but our overall inventory has been hovering at all-time lows.  Additionally, our overall closed sales numbers are much less; we had almost 30% less sales of houses in February than we had last year for the same month.  The only factor on the upswing is the median price for February which went up almost 5% from the previous year and about 16% increase year to date.   Condo Summary Condo statistics are appearing a bit different.  There have been 80 new listings for condos this year compared...

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Real Estate Market Update – 2013 Wrap Up

Posted by on Feb 10, 2014 in Real Estate Market | Comments Off on Real Estate Market Update – 2013 Wrap Up

      2013 has proven to be a very active year in the real estate market.  During the first half of the year, it appeared that we were going to surpass 2012 in the number of sales and that was a blockbuster year.  But during the second half of 2013, our number of sales was less than the year before.  In the end, we had only 1.2% less sales than in 2012.  This can be attributed to the very low inventory that we are experiencing.  At the end of the year, there were only 218 houses (comprising of single family homes and Planned Unit Development (PUD) homes) for sale between Carpinteria and Goleta.  This is the lowest it has been in years.  More interesting is that only 25 of these available houses were under $1,000,000.  With so few homes,...

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