Nancy's Santa Barbara Real Estate Blog

Santa Barbara Real Estate through the end of 2016

Santa Barbara Real Estate through the end of 2016
With the Holiday Fan Faire Safely Tucked Away for another year…it’s Time to Open the Books, Turn over a Few Rocks and Get to the Bottom of our Local Real Estate Market. Here’s a Close Look at Homes & Condo’s from Carpinteria to Goleta.

December 2016 had a total of 86 Houses Sold, Total Sold Volume was $132,925,000. Median List Price was $1,142,000. Median Sold Price was $1,112,000. DOM (days on the market) 72. The SP/LP (selling price to list price) was 92%.
 
Looking back to December 2015 we had 80 Houses Sold. The Total Sold Volume $120,997,000, the Median List Price $1,099,000, the Median Sold Price was $1,060,000, DOM 68 and SP/LP was 97%.

There were 37 Sales up to $1Million and 49 in the $1 to $7Million Range. The Highest Price House was $7,505,000 at 3246 Beach Club Rd, a Tony Neighborhood off Padaro Lane. The Lowest Price House was $650,000 at 819 N Alisos St in the Eastside of Santa Barbara.

              
              
              

 

Looking at these Three Charts one sees a Steady Climb in the Asking Price and the Sold Price, While the Actual Numbers of Houses Sold is in a Tight Range of 100-200 Homes Down from the Highs in 2012. This is a Clear Indicator of Tight Inventory in Our Seaside Communities.

              
              
 

These Charts Show Us once again that while Overall Sales Are Down a Bit, at the end of the Day House Prices Continue to Rise but in a Realistic Range. Depending on the Neighborhood, the Street and How a House Shows; the Buyers are in Control of this Market.

Moving over to the Condo Market December 2016 had a Total of 43 Sales, with the Median List Price of $575,000, a Sold Price of $555,000 and Total Volume of $27,396,000. The DOM was 43, the SP/LP was 96%. Compared to December 2015 there were 7 Less Sales and the Median Sales Price was off Considerably as the ‘Hideaway’ in North Goleta Finished Selling off their Remaining Higher End Units.

The Highest Price Condo was $1,700,000 at 618-4 Anacapa St. in Downtown Santa Barbara. The Lowest Price Condo was $228,000 at 601-58 E. Micheltorena St. on the Lower Eastside of Santa Barbara.

 
              
              
              
Once Again these 3 Charts Clearly Show us a Pattern of Number of Sales Trading in a Tight Range While the Prices Creep up around the Tight Inventory and a Give and Take on Both Sides of the Table. The Next Couple of Charts Will See this Picture Repeating itself.

              
              

So My Friends After All is Said and Done…If one Looks Back to 2008 the Real Estate Market was in turmoil, without going into the Why’s & Wherefores…we in the Industry Can Only Smile at the Many Miles Traveled Together. Real Estate is Once Again a Sound Investment; One that can be Counted on to Deliver a Solid Return if the Right Steps Are Taken Along the Way.

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